Investing.com — Here is a roundup of regulatory news releases from the London Stock Exchange on Monday, 4th November. Please refresh for updates
Insurer Hiscox (LON:) announced a provision of $165 million to cover claims arising from Hurricane Dorian and Typhoons Faxai and Hagibis earlier this year and warned that there is still “significant” uncertainty over the final losses for the industry.
It also warned that fees and commissions will be around $25 million lower at year-end.
Additionally, Hiscox said it is exposed to the recent wildfires in California, but the scale of any potential loss is still unclear. The company still expects to post “a small positive reserve development” in aggregate for the year.
Gross written premiums grew 7.3% in the first nine months of the year, a slight uptick from a rate of 7% through the first half, and Hiscox said it expects 2020 to the third straight year of improving rates in the key London market.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.