It pays to be known as an expert insurance company which focuses on covering a range of personal and commercial risks often thought to be ‘too complex or too much trouble’ for other companies. Like classic cars, pricey homes, high art, world renowned events and also kidnapping and ransom demands.

Europe’s top insurer of fine art and valuable possessions, Hiscox, has ducked the blanket gloom and doom of the financial markets to announce record results for the first half of the year.

The Bermuda-based company, which also specialises in insurance against kidnapping and ransom, declared that pre-tax profits reached the £109.2m mark in the first six months this year. This compares to £105.6m a year ago. Dividends are up 6.3 percent and share prices up 2.5 percent, reports The Guardian.

Robert Hiscox, chairman, said, “It is very pleasing, and slightly surreal to be able to announce record half-year results when the financial markets are in turmoil.”

The company, an underwriter of Lloyds, has also announced that it will launch what it calls a ‘one stop shop’ commercial insurance policy which will help reduce anxiety for proprietors of grand venues, such as exhibition halls, auditoriums, convention centres, and spas, in the UK.

Indeed the firm already insures against cancellation of large-scale events such as the Olympics, Wimbledon or high profile rock concerts.

Hiscox’s clientele reads like a Who’s Who list. The company’s website says its services, especially those pertaining to kidnap and ransom demands are geared towards multinational companies operating in high risk regions of the world, key executives working in commercially sensitive positions and individuals whose wealth or fame may attract the attention of criminals.

The company has launched a new luxury motor insurance in the UK.
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