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Gross written premiums were $440 million and the present value of new business production was $402 million

The result came as Bermudian-headquartered Hiscox Group announced a record profit before tax of $685.4 million

The result is an increase of 55 per cent compared with the prior year

The result is a 14.4 per cent improvement on 2023

An increase of $60 million, or 271 per cent, compared with the prior year

Result is achieved despite a fourth-quarter net loss of $21.3m

The four-year-old company produces $1.16 billion of gross premiums written

That result compares with net income of $113.4 million for the 2023 fiscal year

Net investment income for the year was $222.1 million, up 19 per cent from 2023

The company is the parent of Palomar Specialty Reinsurance Company Bermuda Ltd

During the quarter, shareholders approved the issuance of shares to Parker Wellbore stockholders in connection with the merger between Parker and Nabors

Strong returns were delivered through diversified fee income, low credit risk, treasury/agency investment portfolio and effective capital management