Profits and GWP up at Hastings in 2016

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Hastings Group has posted a 25% increase in gross written premiums (GWP) to £769.0m (2015: £614.9m) for the year ended 31 December 2016.

Operating profit rose by 5% to £132.1m (2015: £126.1m), after allowing for a £20.0m impact of the Ogden rate change.

The company noted that it did not expect the discount rate cut from 2.5% to minus 0.75% to have material impact on the group.

In addition, its net revenue was up by 23% to £590.3m in 2016 from £481.0m in the preceding year. Its combined operating

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