Profits Increase For Specialist Insurer
Profits for the first half of the year are up by 3.4 percent for Hiscox thanks to their move towards more specialised areas of insurance.
Hiscox has moved away from the general insurance market so it can concentrate on areas such as small business and high value individuals with insurance needs that are outside the norm. By doing this it has positioned itself as the expert in a small number of areas, leading to increased levels of business.
The results were better than anticipated by industry commentators and led to Robert Hiscox, the company chairman, to express his delight that their decision to concentrate on a small number of niche areas had proved to be so successful.