Hastings Group
Hastings Group began in Bexhill-on-Sea and targets the home and motor markets. In 2020 it was valued at £1.66bn when it de-listed and was jointly bought by Sampo and Merchant Rand Investment holdings.
Hastings Group features in the Insurance Age Top 50 Insurance Brokers in Personal Lines listing. Find out what other companies made the cut.
Hastings names ex-Abacai leader Jamie Hay as CFO
Hastings Group has appointed Abacai founder Jamie Hay to take over as group chief financial officer during the second quarter of this year.
Insurers and brokers detail employee help amid cost-of-living crisis
Numerous insurers and brokers have revealed one-off payments and wage increases for staff as the cost of living crisis hits worker's pockets. Insurance Age details some of the financial and other help being provided below.
Blanc exits Hastings board as Mark Cliff steps in
The former Brightside boss has joined Hastings as non-executive director following Peter Blanc's resignation prompted by the Aston Lark-Howden deal.
Sampo buys out Rand for Hastings
The £685m deal sees Sampo pay £1.85bn for 100% of the share capital.
HMRC flags potential code of conduct for brokers in IPT consultation update
Government outlines the next steps and details responses from industry stakeholders, including brokers, insurers and trade bodies.
Hastings reports increased profit in Q3 2021
The provider's profit before tax hit £103m, highlighting an increase in customer policies despite premium reductions across the sector.
Hastings profit hits £76m
Provider says it has seen premium reductions in motor due to Covid restrictions as GWP slips slightly to £481m.
Hastings sale to Finnish/South African consortium completed
Takeover, which valued the business at £1.66bn, sees Hastings delist from the London Stock Exchange.
Brokers welcome FCA's crackdown on dual pricing
Experts predict the regulator's proposals to ban dual pricing will have "unintended consequences" and lead to reduced competition for new business, but agree the measures are a positive outcome for consumers.
Hastings bought by Finnish/South African consortium
The deal values Hastings at around £1.66bn as the provider also publishes half year results.
Finnish provider in cash offer talks with Hastings
Sampo Oyj has approached the business along with Rand Merchant Investment Holdings.
Ex-Markerstudy/Brightside boss Bence among senior hires at Complete Cover
Personal lines broking group Complete Cover has bolstered its management team with a quartet new hires including former Markerstudy and Brightside boss Russell Bence.
Gary Hoffman resigns from Hastings
Hoffman, currently non-executive chairman, was CEO of the business between 2012 and 2018 and led it through an IPO in 2015.
Hastings posts profit drop after "challenging" 2019
CFO John Worth said results were driven by elevated claims as the business reports rising GWP in every division except van.
Claims inflation continues to bite at Hastings
Trading update reveals provider has restated its operating profit from £125m to £110m – a drop of 12%.
Revenue falls at Hastings amid rising claims inflation
Firm said it would apply price increases to keep its full-year loss ratio within target.
Most complained about insurer revealed
Data from the Financial Conduct Authority highlighted the most complained about providers and brokers.
Latest Ogden rate change will cost the industry over £160m
Insurers have revealed the impact from the change in the discount rate to -0.25%.
Quizzical Questions: 9 August 2019
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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.
Ghost broker sentenced for 18 counts of fraud
The “prolific” scammer was caught after Hastings identified a number of incepted policies in 2016.