StockMarketWire.com - Insurer Hiscox said half-yearly profits grew 3% as a higher volume of claims weighed on performance.

For the six months ended 30 June, pre-tax profit before was up 3% to $168m, driven by a good investment return of 4.8% annualised, the company said.

Gross premiums written up 7% in constant currency, with all business segments growing.

The uptick in premiums was partly offset by a higher volume of claims in the first half of 2019 than the same period last year.

The interim dividend was up 4% to 13.75ยข.

'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,' the company said.






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