Forex movements boost Hiscox H1

First-half pre-tax profit at Hiscox grew by 52 percent to
£206mn ($270mn), as favourable forex moves helped the carrier
beat analyst consensus of £153mn.
Foreign exchange gains totalled £87.3mn in the six months
to 30 June, compared to a loss of £15.7mn the year before.
Net earned premiums rose 8 percent to £767.5mn, while the
group combined ratio for the period fell 1.8 percentage points to
80.7 percent.
Excluding forex gains, the combined ratio was 88.4 percent, a