Sickly sterling gives Hiscox a £150m lift

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

Sterling's weakness against the dollar has increased the value of the capital held by its international arm, though the group made a £42 million loss from various currency hedging strategies.

Rivals have already reported that insurance rates are rising fast, and Hiscox followed suit.

Best-known for insurance against kidnap and hurricanes, the Bermuda-based company says premiums are rising by up to 25% in the US and by between 5% and 30% in other regions.

It reckons it made a loss on its investments in 2008 of 1.3%, largely due to bad bets on American mortgage securities.

Hiscox made profits of £109 million in the first six months of 2008. The shares fell 5p to 3051/4p despite the upbeat trading statement.