Hiscox says insurance market continues to deteriorate
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(Reuters) - British insurer Hiscox Ltd said the market had continued to deteriorate from last year's catastrophes such as typhoon Jebi in Japan and hurricane Michael in Florida, and expected first-half earnings to be between $150 million (£120 million) and $170 million.The range compared to last year's pretax profit of $163.6 million, and the Lloyd's of London insurer said on Friday that the impact of reserve strengthening needed for the catastrophes was roughly $40 million.