Hiscox grows group GWP but profit slips

Bronek Masojada

Hiscox has revealed a 10.7% increase in gross written premiums to £1.94bn for the year ended 31 December 2015.

The rise came as the profit after tax dropped 3% to £209.9m (2014: £216.2m).

The provider achieved a combined operating ratio of 85% a slight deterioration on the 83.9% posted the year before.

Bronek Masojada, chief executive of Hiscox, commented: "Our strategy continues to deliver good growth with our retail businesses contributing 50% of income.

"We have established profitable