Hiscox posts £192m loss in 2020
Provider says results were impacted by the pandemic, as COR worsened to 114.5% while GWP remained flat.
Hiscox has reported a loss before tax of $268.5m (£192.4m) for the full year 2020, down from a pre-tax profit of $53.1m in 2019.
Combined operating ratio also worsened to 114.5% in 2020, compared to 106.8% in the preceding year.
Meanwhile, total gross written premium (GWP) remained flat at $4.03bn, with Hiscox’s retail division contributing GWP of $2.3bn (2019: $2.2bn).
The retail business further posted a loss of $237.6m (2019: profit of $169.2m) and a COR of 120.0% (2019: 99.3%).
Pandemic
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