Hiscox share sale raises £375m

Bronek Masojada

Hiscox has raised funds via a share sale and published a trading update for Q1 2020.

A total of 57,601,123 new ordinary shares were placed raising £375m for the insurer which is currently embroiled in a public argument with a number of SME businesses over its stance on business interruption pay outs amid the coronavirus pandemic.

The trading update showed its retail division increased GWP to $635.1m compared to the same period in 2019 (2019 Q1: $593.3m).

Its London Market GWP was $254.5m, an

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