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Hiscox 1st-qtr premiums rise on growth in London-based business
May 7, 2013 / 6:46 AM / in 4 years

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.

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