Plus   Neg

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Bank of America Corp. (BAC) reported net income of $5.8 billion, or $0.56 per share, for the third quarter of fiscal 2019. The company's third-quarter results included Merchant Services Joint Venture impairment Charge of $2.1 billion or $0.19 per share. Excluding the impairment charge, net income was... The Libra Association, formed by major financial partners of Facebook's Libra cryptocurrency project, formalized the association at the inaugural Libra Council meeting of the members at its headquarters in Geneva, Switzerland. The current 21 member organizations formally signed onto the Libra Association charter, elected the Board of Directors, and appointed the executive team. Department store chain Kohl's Corp. has unveiled its Kohl's Cares holiday collection that includes the Disney Frozen 2 and Holiday Character bundles. The company's philanthropic program, Kohl's Cares, sells children's books as well as toys and donates the entire profit to charitable initiatives nationwide.
Follow RTT