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
The Insurance Age team unpick the most recent and most popular stories.Subscribe to our daily newsletter for all the latest news
- FSCS set to compensate Alpha Insurance latent defect insurance policyholders
- Zurich cuts scheme contract with Fleet UK
- THB pledges support for Fleet UK
- Brightside hires new MD of broking as Russell Bence exits
- Ardonagh shutters Swinton's advised commercial business
- Latest Ogden rate change will cost the industry over £160m
- Allianz appoints branch leaders