Profits soar at Hastings
Hastings Insurance Group has announced a 100% increase in Ebitda to £70m along with a near doubling of profit before tax from £31m in 2011 to £61m for the year ended 31 December 2012.
Hastings' results came on the back of a 19% rise in group premiums to £423m (2011: £355m) with customer numbers up by almost the same percentage to 1.15m (2011: 972,000).
In a string of positive numbers in its annual results the company also detailed that it had created over 300 jobs last year and saw its combined ratio improve to 92% from 96% the year before.
Gary Hoffman, chief executive at Hastings, commented: "I joined in the final quarter and have been hugely impressed by what the
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