Hiscox shares fall on $150mn Harvey estimate

Hiscox shares fell on Monday morning in London after the carrier
said it is expecting net claims of around $150mn from Hurricane
Harvey, based on an industry loss estimate of $25bn.
Its shares were down 2.9 percent at 1,215 pence as of 10:11 UK
time after the forecast, which Hiscox said stems mainly from
reinsurance and primary insurance exposure, including flood cover
for homeowners and businesses.
It assumes an industry loss estimate that does not include
losses from the state-backed...