Hiscox confirms the impact of COVID-19 on its annual results

Hiscox confirms the impact of COVID-19 on its annual results

“Resilient performance in a tough year,” is how Hiscox Ltd described its full year results for 2020. The global insurer recorded a pre-tax loss of $ 268.5 million, driven by COVID compared to its profit of 53 , $ 1 million in 2019. Its COVID-19 reserves of $ 475 million remain unchanged. Better yet, the company’s gross written premiums (GWP) of $ 4.03 billion are up slightly from the previous year.

Meanwhile, Hiscox London Market made a profit of $ 97.2 million, up substantially from $ 23.3 million last year and Hiscox Retail rose 3% to $ 2.3 billion. dollars. The insurer’s direct activity and partnerships increased by 15% and is now …

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