Hiscox posts 'record' 2016 profits

Hiscox reported record pre-tax profits of £354.5mn
($441.4mn) for the full year following a significant boost from
foreign exchange movements and an improved investment return.
The carrier's 2016 pre-tax profits were a 64 percent increase
on the previous year's result and the highest Hiscox has
reported since 2009, when it posted pre-tax profits of
£320.6mn.
Net foreign exchange gains for the year surged to £152.4mn
from just £15.2mn a year ago, while the 2016 investment