H1 2019 | H1 2018 | |
---|---|---|
Gross premiums written | $2,337.5m | $2,228.8m |
Net premiums earned | $1,313.8m | $1,277.9m |
Profit before tax | $168.0m | $162.7m |
Earnings per share ($) | 51.2¢ | 52.2¢ |
Earnings per share (£) | 39.6p | 38.0p |
Interim dividend per share | 13.75¢ | 13.25¢ |
Net asset value per share ($) | 817.0¢ | 833.7¢ |
Net asset value per share (£) | 641.9p | 633.6p |
Group combined ratio | 98.8% | 87.9% |
Return on equity (annualised) | 13.3% | 13.3% |
Investment return (annualised) | 4.8% | 0.7% |
Foreign exchange gains / (losses) | $15.6m | $(8.5)m |
Reserve releases | $26m | $154m |
Highlights
Bronek Masojada, Chief Executive Officer, Hiscox Ltd, commented:
"Hiscox delivered a profit of $168 million for the first half despite a more challenging claims experience. Looking ahead, with six consecutive quarters of rate growth in some Lloyd's business, the market is in a better position than it has been for some time. In Retail, we will continue to invest in our infrastructure and marketing to drive sustainable growth. Our strategy of diversification gives us options."
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