Hastings posts profit drop after "challenging" 2019

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Profit after tax fell to £69.7m at Hastings Group in 2019, down from £130.6m in 2018.

The business also reported a drop in operating profit to £109.7m for the year, compared to £190.6m in 2018.

Gross written premiums (GWP) remained relatively flat at £961.6m (2018: £958.3m).

Hastings chief financial officer, John Worth, told Insurance Age that the falling numbers were due to a challenging market environment.

Claims inflation
The motor provider warned in a trading update on 17 January 2020

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