Monday, November 16, 2009

Hiscox Optimistic on Back of Revived Profits, Says No Extra Pay-outs to Investors

hiscox insurance

Hiscox seems to be one of the fastest recovering insurance firms as of now, posting profits which have been much better than last year. On the back of this fact, the company has announced that it is completely ready to deal with the 2010 fiscal year, which it expects will be more difficult. Also the company has promised that it would not be handing any extra pay-out to investors.

As confirmed by figures revealed by Hiscox, the company's earnings for the current year's first nine months has seen a whopping 31.7% rise as compared to last year. The insurer now has "good reasons to be optimistic" about the coming times.

So far this year, Hiscox, which mainly deals with internationally traded businesses, has written premiums of as much as 1.2 Billion Pounds, a significant rise from the figure of 920.1 Million Pounds for the same periodlast year.

Chairman Robert Hiscox has asserted that the company is in "good health", while sharing that it has "continued to benefit from solid investment decisions and have maintained growth in (our) most profitable underwriting lines".