- Insurance company Hiscox said it expected to pay claims of up to $150m should the current lockdown measures continue until September.

In the event that restrictions on travel and mass gatherings were extended beyond the six months from March, Hiscox expected that these claims could increase by an additional $25m.

The company said its business interruption exposure to Covid-19 was limited in Hiscox Europe and it had negligible exposure in Hiscox USA.

'Hiscox's capital, liquidity and funding positions remain robust and the Group remains operationally strong in the face of unprecedented global uncertainty presented by the COVID-19 pandemic. Hiscox expects this uncertainty and consequent capital contraction to influence rates across wholesale and reinsurance markets,' the company said.

At 10:18am: [LON:HSX] Hiscox LTD share price was +18.4p at 815.8p

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