Hastings profits slip in H1 this year
Results for the first half of 2019 show decreased profit and an £8.4m Ogden hit as company reports growing GWP.
Hastings Group posted declining profit and a deteriorating COR according to its figures for the first half of 2019.
The provider revealed that adjusted operating profit dropped to £59.7m (30 June 2018: £105.1m). Adjusted operating profit on a like for like basis, before the impact of the Ogden rate change in 2019 as well as additional input VAT recoverable in 2018, would have been £68.1m.
On the underwriting side of the business COR also deteriorated to 96.9% from 87.7% in the same period in
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