The Hiscox share price rose by 5.4% to 944.2p on Wednesday after the company released strong financial results.
The insurance provider reported gross premiums of $4.27 billion against a 2021 figure of $4 billion.
Hiscox further noted net premiums of $2.9 billion compared to a 2020 result of $2.7 billion.
The company also reported a five-year high underwriting profit of $215.6 million against its 2020 loss of $370.6 million.
The Group announced a total ordinary dividend per share of 34.5¢ alongside a final dividend of 23c.
Hiscox reported that gross premiums were driven by positive rate momentum across its three divisions, alongside a significant level of customer growth in Retail.
The company added that net premiums climbed as a result of “big-ticket businesses” as an increased level of risk was retained as conditions improved.
“I am pleased with the strong results the Group has delivered despite elevated natural catastrophe losses, reflecting successful execution of our strategy, and the management actions we have undertaken to improve the performance and quality of our portfolios,” said Hiscox CEO Aki Hussain.
“Hiscox has a significant technical underwriting capability, which combined with investment in digital, positions us well to capitalise on the many opportunities ahead as we continue to serve our customers and build a sustainable insurance business.”