Premium growth boosts Hiscox shares

FTSE 250 insurer Hiscox (LON:HSX) saw its share price climb by 2.38% to 844p (as of 15:45 GMT) after reporting that gross written premiums increased by 2% across the first nine months of the year. Premiums for the third quarter were up by 15% in constant currency terms.

CEO Bronek Masojada commented: “Our year-to-date performance demonstrates the resilience of the Group, as we delivered good growth in every target area, including in all of our Retail businesses.

“We are benefiting from the inexorable shift towards digital in our Retail businesses thanks to our on-going investment in technology, as well as the strongest pricing we have seen in the London Market and in reinsurance for more than five years. We have the financial strength, operational resilience and underwriting expertise to take advantage of these favourable market trends“.