Hastings reports improved profit
Hastings Insurance Group has reported a 63% jump in profit, from £19m in 2010 to £31m in 2011.
The insurer’s EBITDA increased by 59%, to £35m (2010: £22m), and gross written premiums also went up, by 35%, from £219m in 2010 to £296m last year.
The combined ratio remained stable at 96%.
The group said a focus on risk selection, data validation and counter-fraud actions had resulted in reduced bodily injury frequency and claims inflation below the overall market, and that underlying underwriting performance had continued to improve during 2011.
Edward Fitzmaurice, chief executive at
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 info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk 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 info@insuranceage.co.uk
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 info@insuranceage.co.uk
Most read
- In Depth: Managing cyber risk in an ever-changing security landscape
- Covéa cuts losses but underwriting deficit grows
- JMG strikes its biggest deal of 2024 with BQI swoop