Hiscox has reported a 30% increase in gross written premium to over £500m in the period to the end of May 2006 against the same period in 2005.
The company said that overall exposure remained static and added that there have been no material new claims during the period.
In a statement at the company AGM, Hiscox said it had achieved rate increases over the whole account of 9%, with the reinsurance account achieving a 17% increase overall (including both new business and renewals) to the end of May.
It said it also expected rates in some areas of the
business, especially reinsurance, to rise further in the coming months.
The company said the UK business continues to grow "satisfactorily" and said the TV advertisements run in May had a "measurable impact" over all retail areas and also helped broker sales.
The Bermudan business wrote $150m new reinsurance business out of a target of $165m for the year and Hiscox said it continued to have a strong commitment to this market.
The company also said in the statement that "work has progressed" on moving the domicile of Hiscox to Bermuda. It said a more detailed statement would be given at the half-year results.
Robert Hiscox, chairman, noted the good start to the year but added that Hiscox was waiting for the effects of the wind season.
