
Hastings expects £8.4m hit from Ogden rate change

Hastings Group has stated that it expects the change in the discount rate to -0.25% to result in an £8.4m one-off pre-tax charge for the company in 2019.
In a statement on the stock exchange, Hastings said: “As previously indicated, the group’s insurance subsidiary has held best estimate reserves consistent with an Ogden rate in the range of 0% to 1%, in line with the range indicated by the government previously and the rate at which large bodily injury claims have been settling.
“The company
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected].
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Broker
Podcast
The Insurance Age Podcast: 6 December 2019
Siân Barton and Laurence Eastham discuss the week's most popular news stories, including the return of Amanda Blanc and the launch of Cuvva's new motor product.
Subscribe to our daily newsletter for all the latest news
Most read
- Elite Insurance goes into administration
- Gefion set end of year liquidity deadline by Danish regulator
- GRP silent as potential buyers named
- CBL Insurance Europe ordered to cease paying claims
- Ethos adds Hugh J Boswell as its tenth regional powerhouse
- Pukka steps away from Gefion
- Lloyd’s launches trans and non-binary inclusion guide