UPDATE 1-Hiscox, Beazley post 9-month premium jump

* Hiscox gross written premiums up 32 percent

* Beazley premiums up 45 percent

* Hiscox shares up 3 percent, Beazley up 1.5 percent

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LONDON, Nov 9 (Reuters) - London-listed insurers Hiscox (HSX.L) and Beazley (BEZG.L) both posted strong rises in premium income for the first nine months of the year and said on Monday they had seen stable or increased rates over the period.

Bermuda-based Hiscox said premium income in the first nine months of the year rose 31.7 percent to 1.2 billion pounds ($2 billion), as its London market business, helped by a benign third quarter, was complemented by strong growth in its international arm and Europe returned to profit. On constant exchange rates, that year-on-year rise was 10.5 percent.

The news boosted its shares, trading up 3.1 percent by 0804 GMT at 338p, against a 1.8 percent rise in the European index of insurance stocks .SXIP. Beazley was also trading higher, changing hands at 109.3p, up 1.5 percent.

"Rates are stable and still very healthy in most areas, particularly reinsurance which accounts for over a third of our business," Chairman Robert Hiscox said in a statement.

Hiscox said it was taking advantage of a hardening of reinsurance rates in Bermuda, where it saw 53.4 percent growth in sterling terms, while growth in its Guernsey business was being driven by kidnap and ransom lines and piracy insurance.

Hiscox said its investment yield to the end of September was 6.5 percent, after it increased its exposure to investment grade corporate bonds and sold some equities after the market rally.

Lloyd's of London's Beazley, meanwhile, said gross written premiums climbed 45 percent to 861.9 million pounds -- an 18 percent rise excluding currency fluctuations -- and added it was on track to achieve a combined ratio of 90 percent.

It said underwriting conditions had been "favourable", with rate increases averaging 4 percent across the portfolio.

The group said it had seen the most significant rate increases in catastrophe exposed lines, though competition was still "intense" in some casualty lines.

"We have also seen favourable claims developments in our specialty lines, marine and reinsurance businesses where we have been able to continue to make substantial reserve releases," the insurer said in a statement. "These have been offset by an increased number of claims on the political risk and contingency portfolio resulting from the economic downturn." (Reporting by Clara Ferreira-Marques; Editing by Jon Loades-Carter)