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Hiscox records loss before tax of $268.5m in 2020 due to Covid impact

By 2021-03-03T09:59:00

Hiscox

The insurer has reserved a total $475m to cover the costs of the pandemic as profits plummet – chief executive labels last year’s performance as ‘not satisfactory’

Insurer Hiscox’s full year results for 2020 show that profits across the business have taken a nosedive due to the effects of the ongoing Covid-19 pandemic. In the 12 months to 31 December 2020, the insurer recorded a loss before tax of $268.5m, compared to a $53.1m profit before tax in 2019.

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