Non-life insurers shorten bond duration as investment returns fall

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When UK non-life insurers reported their interim results earlier in the year, their investment returns over the first six months of 2013 had taken a battering.

Lloyd’s of London, the specialist insurance market that combines the results of more than 80 insurance and reinsurance syndicates operating under its banner, reported investment returns were down 60%, falling to £247 million from £619 million in the first half of 2012.

Meanwhile, Bermuda-based specialist insurer Hiscox, which has a signif