Hiscox cuts Lloyd’s premiums by 14% in first nine months
Bermuda-headquartered Hiscox cut back the premiums it wrote through its Lloyd's platform by 14 percent to £496mn in the first nine months of 2010, as it sought to defend margins amid softening rates.
According to the international (re)insurer's interim management statement (IMS), group-wide premium volumes were roughly comparable with the prior-year period at around £1.2bn, as it continued to write more business out of Bermuda and the US.
Meanwhile, Hiscox released improved earnings forecasts for Lloyd's Syndicate 33, for which...
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