Company results

No IPO on the table at Hastings

Gary Hoffman, chief executive of Hastings Insurance Group, has reiterated that an IPO is not in the pipeline for the company as it posted soaring profits, although it could still be an option in the future.

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.

Ecclesiastical’s UK COR reaches 105.5%

Steve Wood, managing director for the UK and Ireland at Ecclesiastical, has vowed the provider will focus “sharply” on underwriting as its UK combined operating ratio (COR) hit 105.5% in 2012, up from 96.3% the year before.

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