Hiscox sees first-half profit higher than estimates as rates remain steady

(Reuters) - British insurer Hiscox forecast better-than-expected earnings for the first half as rates for most lines improved in its London market, even as the overall market continued to deteriorate from last year's catastrophe events.The Lloyd's of London insurer, part of the oldest insurance market in the world, on Friday forecast first-half pretax profit to be between $150 million (£120 million) and $170 million, higher than the average analysts' estimate of $152.6 million as per Refinitiv..