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Hiscox Posts HY Loss

Hiscox Ltd (HSX.L) reported that its loss attributable to owners of the company for the six month period ended 30 June 2020 was $150.5 million or 49.7 cents per share, compared to net income of $145.1 million or 50.2 cents per share in the prior year.

Loss before tax was $138.9 million compared to profit of $168.0 million in the prior year.

Gross premiums written reduced by 4% in constant currency to $2.24 billion from last year.

The company said it is accelerating a range of operational initiatives which are on track to deliver over $60 million of expense efficiencies ahead of its business plan in 2020.

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