Hiscox 1st-qtr premiums rise on growth in London-based business
May 7 (Reuters) - Bermuda-based specialist insurer Hiscox Ltd reported a 12 percent rise in first-quarter premiums, mainly driven by its London-based unit's property and speciality businesses.
Gross written premiums rose to 506.1 million pounds ($786.05 million) in the first quarter to March 31, from 450.7 million pounds a year earlier.
Hiscox, which insures fine art, property, vintage cars and other assets of wealthy individuals and families, said gross written premiums in its London-based business rose 16 percent to 209.5 million pounds.
"We are in a good position to benefit from rate rises in the U.S. casualty market and it is pleasing to see substantial growth here," Chief Executive Bronek Masojada said.