Hiscox sees Dual deal drive growth in the UK
Hiscox has reported an overall 8% drop in GWP to £453.5m (2010: £504.1 m) in its 2011 Q1 results but more positive news came out of its UK operation.
The group attributed the loss to a maintained underwriting discipline and said it had walked away from poorly rated risks.
However the retail business in the UK grew premium income by 8.% to £86.2m (2010: £79.8m). The specialty insurer said this continued good growth came from the direct business and the new underwriting partnership with Dual.
Bronek Masojada, chief executive, commented: "We continue to underwrite for profit over volume in these tough market conditions. This discipline has
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