Hiscox FY profits shrink as CR climbs to 105.7%

London-listed Hiscox has reported a 2019 profit before tax of $53.1mn, a marked deterioration on the $135.6mn it reported in 2018, with the carrier pointing to its profits being dented by large catastrophe events during the year, reserve strengthening in its prior years US healthcare book and “large loss activity in D&O”.