Profits shoot up at Hastings in the first half of 2018
CFO Richard Hoskins says focus is on "disciplined growth" and investing in digital initiatives.
Hastings Group has revealed a 22% rise in operating profit to £105.1m for the six months ended 30 June 2018 (H1 2017: £86.5m).
In addition its gross written premium (GWP) increased by 5% to £485.6m, compared to £462.0m in the first half of 2017.
The business also posted a 9% increase in net revenue to £376.3m for the six month period (H1 2017: £345.2m). Combined operating ratio remained relatively flat at 89.3% (H1 2017: 88.9%).
Hastings chief financial officer Richard Hoskins described the
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