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Hiscox might set up EU-based insurance firm after Brexit

HiscoxLtd. might establish a new EU-based insurance company, depending onthe nature of future trading deals between the bloc and the U.K., whichrecently voted to leave the EU.

Hiscox' board also declared an interim dividend for 2016 of 8.5pence per share, up from 8.0 pence per share a year earlier. The dividend willbe recorded Aug. 5 and paid to shareholders Sept. 9.

The board also proposes to offer a scrip dividend alternativesubject to the terms and conditions of the company's 2016 scrip dividend scheme.

Hiscox reported profit attributable to owners of the company of£197.6 million for the six months to June 30, compared to £129.4 million in thefirst six months of 2015.