Hiscox bows out on a high note

Robert Hiscox, the chairman of the Lloyd's insurer which bears his name, bowed out on a high yesterday, telling investors that £200m would be returned to them after Hurricane Sandy failed to blow a hole in its 2012's profits, which soared to £217.1m.

Mr Hiscox, who steps down today, said: "As we grow bigger and more balanced, we can absorb Mother Nature's punches."