Lloyd's insurer GoshawK has also been looking distinctly ropey of late
Embroiled in the collapse of The Accident Group (TAG), it reported dismal first half results under the weight of losses from contingent cost insurance and TAG.
With the announcement of a second profits warning in less than three months, the company's stock took another nose dive losing half its value.
In stark contrast to GoshawK, Hiscox produced a storming 700% increase in first half profits. The group reported pre-tax profits of £31.5m in the six months to 30 June, up from £3.9m in the same period last year.
Its combined ratio improved to 95.9% from 101.5%.
The sharp talons of the PI crisis sunk deep into the heart of broker Bradstock snuffing out what remaining life it had left.
The group went into liquidation at the end of September, blaming a 400% increase in PI premiums for triggering its demise. A £14m deficit in its pension fund and a £6.2m deficit in shareholders' funds didn't help.
