Insurer Hiscox posts record first-half profit

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Bermuda-based Hiscox, a Lloyd's underwriter and leading fine art and kidnap insurer, said pretax profit in the six months to the end of June rose to 109.2 million pounds, from 105.6 million in the same period a year ago.

Profit was well ahead of market expectations, with analysts expecting it to make 88.4 million pounds, according to an average forecast of six analysts published by the company. Forecasts ranged from 58 million to 103.3 million pounds.

The company set an interim dividend of 4.25 pence per share, up from 4p a year ago.

(Reporting by Simon Challis; Editing by Erica Billingham)