Hiscox UK sees growth while group experiences slight dip

Hiscox offices

Overall, Hiscox's gross written premiums year on year dropped slightly to £1,205.3m (2009: £1,212.2m).

The group said it reduced its London Market premium income as planned by 13.9% to £495.8m (2009: £575.7m).

It stated that it had continued to cut back in areas where rates that were weak, mainly US property insurance lines and big-ticket professional indemnity, and that it was ready to expand in offshore energy where market conditions were anticipated to improve after the Deepwater Horizon loss

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