Hiscox reported record results for 2007, with pretax profits up 18 percent, to ?237.2 million ($360 million) compared to ?201.1million ($305.7 million) in 2006.

Gross written premium income increased 6.5 percent, to ?1.19 billion ($1.81 billion) compared to ?1.126 billion ($1.71 billion) in 2006. Net earned premium increased 8.6 percent, to ?965.2 million ($1.46 billion) compared to ?888.8 million ($1.35 billion) in 2006, the company said.

Hiscox said results were high, despite a weak dollar exchange rate persisting throughout 2007. The combined ratio was 84.4, versus 89.1 in 2006. Earnings per share on profit after tax increased 16.1 percent. Net assets per share rose 21 percent and return on equity was 28.8 percent compared with 28.9 percent in 2006.

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