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The bank pointed to the creation of value for shareholders across more pronounced economic and interest-rate cycles

The company says its net income was about half of its 2023 total of $27.2 million

Result was an improvement on the loss of $152.8m recorded by the Bermudian-based company in the prior-year quarter

The operating return on average equity was 19.4 per cent and the adjusted combined ratio was 86.8 per cent

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

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

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