Hiscox reports a healthy profit for H1 2021, hails best market conditions in years

Hiscox reported a strong first half profit for 2021, offering some closure after the significant loss it reported at the same point last year.

Hiscox reported a profit of $133.4 million before tax in H1 2021, having made a loss of $138.9 million before tax in the same period of 2020.

Gross written premiums increased to $2.43 billion in H1 2021, up from $2.24 billion in H1 2020. Its group combined ratio declined dramatically to 93.1 percent for the half year, having been 114.6 percent for the same period in 2020.

Bronek Masojada, Hiscox’s chief executive officer, hailed it as “a good result driven by strong performances across all our businesses.”

He added: “Our investments in digital trading continue to bear fruit and market conditions are the best we have experienced for many years. Hiscox has the fire-power, new leadership and talent to capture the many opportunities ahead.”