Hiscox UK and Europe division posts half year growth

A hand extended holding a bag of pounds - illustration

Hiscox has reported an increase in gross written premiums (GWP) for the UK and Europe to £309.4m for the first six months of 2014 (H1 2013: £295.1m).

However profit before tax fell to £26.3m from £44.4m for the same period of 2013 which the provider put down to being a result of the impact of the flooding in the UK throughout January and February.

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The combined ratio for the division worsened to 92.9% (2013: 87.9%) and the insurer said the six months delivered a "good results" despite the

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