November 5, 2018 / 7:17 AM / 16 days ago

Underwriter Hiscox reports higher gross written premiums

Nov 5 (Reuters) - Lloyd’s of London underwriter Hiscox Ltd on Monday reported a 14.3 percent rise in gross written premiums for the first nine months of the year, but warned that growth could moderate over the balance of the year.

The insurer, which underwrites a range of risks from oil refineries to hijacks, said it had been hit by catastrophes in the United States and the Far East and reserved net $125 million to cover claims and reduced profit commissions because of Hurricanes Florence and Michael and Typhoons Jebi and Trammi. (Reporting by Noor Zainab Hussain and Samantha Machado in Bengaluru Editing by Saumyadeb Chakrabarty)

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