July 12, 2019 / 6:26 AM / 4 days ago

Hiscox says insurance market continues to deteriorate

July 12 (Reuters) - British insurer Hiscox Ltd said the market had continued to deteriorate from last year’s catastrophes such as typhoon Jebi in Japan and hurricane Michael in Florida, and expected first-half earnings to be between $150 million and $170 million.

The range compared to last year’s pretax profit of $163.6 million, and the Lloyd’s of London insurer said on Friday that the impact of reserve strengthening needed for the catastrophes was roughly $40 million. (Reporting by Muvija M in Bengaluru; Editing by Rashmi Aich)

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