StockMarketWire.com - Insurer Hiscox pulled its dividend and said it would not conduct any share buybacks in the wake of the ongoing Covid-19 crisis.

The insurer also withdrew all financial guidance for 2020, but said it was confident in its ability to return to its normal 90% to 95% combined ratio target range for the retail business in 2022.

'Trading across the group for the first two months of the year was ahead of expectations, however in view of the uncertain impact of Covid-19 on the global economy, the group is unable to accurately forecast the outlook for 2020,' the company said.




Story provided by StockMarketWire.com