November 5, 2018 / 7:15 AM / 11 days ago

Underwriter Hiscox reports higher gross written premiums

(Reuters) - Lloyd’s of London underwriter Hiscox Ltd (HSX.L) on Monday reported a 14.3 percent rise in gross written premiums for the first nine months of the year, but warned that growth could moderate over the balance of the year.

The insurer, which underwrites a range of risks from oil refineries to hijacks, said it had been hit by catastrophes in the United States and the Far East and reserved net $125 million to cover claims and reduced profit commissions because of Hurricanes Florence and Michael and Typhoons Jebi and Trammi.

Reporting by Noor Zainab Hussain and Samantha Machado in Bengaluru; Editing by Saumyadeb Chakrabarty

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