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Hiscox Expects H1 Profit Before Tax Of $150 Mln-$170 Mln

Hiscox Ltd (HSX.L), a specialist insurer, Friday said it expects to deliver a profit before tax for the first half in the range of $150 million to $170 million. This includes an estimated investment return of $150 million to the end of June.

In its trading update, the company said it expects Hiscox Retail's combined ratio to be within the normal range of 90-95% at the half year.

The company, as said earlier, expects growth for Hiscox Retail to trend towards the mid-point of the normal 5-15% target range in the second half. Further, the company expects reserve releases in the first half to be materially lower than last year.

Looking ahead, Hiscox said it remains strongly capitalised and committed to its progressive dividend policy and does not anticipate any impact on the interim or final dividend.

Hiscox will publish its Interim Results on July 29.

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