Hastings Group reports strong third quarter results

3 November, 2021
Hastings Group (“Hastings”), the technology driven UK insurance provider, today announces its interim results for the nine months ended 30 September 2021, delivering another period of profitable growth.
Toby van der Meer, Group CEO commented:
“I’m really pleased with the continued strong progress against our strategy, with our operational initiatives driving profitable growth in the first nine months of the year and customer numbers increasing to just over 3.1 million in a competitive market environment. We remain well positioned to take advantage of upcoming market changes and continue to invest in building our capabilities to become the UK’s best and biggest digital insurance provider. As always, my thanks go to the entire Hastings team for their hard work and commitment in supporting each other, our customers and the communities in which we work.”
*Hastings Group Holdings Limited basis
Hastings continues to make good progress on its strategic initiatives:
Hastings remains firmly committed to supporting its colleagues and the communities in which it operates. Highlights include:
Ends
For more information, please contact pr@hastingsdirect.com
Founded in 1996 in Bexhill-on-Sea on the Sussex coast, the Hastings Group is one of the leading general insurance providers to the UK market, with over 3.1 million live customer policies and employing approximately 3,300 colleagues.
Hastings provides simple and straightforward products and services to UK car, bike, van, and home insurance customers with around 90% of policies directly underwritten by Group's Gibraltar based Underwriting business, Advantage Insurance Company Limited.
Hastings Direct is a trading name of Hastings Insurance Services Limited, the Group's UK broker, which also trades via 'Hastings Premier', 'Hastings Essential', 'Hastings Direct YouDrive', 'People's Choice' and 'insurePink'.
The Group operates as an insurance provider with two separate businesses. The Group's Retail business, Hastings Insurance Services Limited, is responsible for the end customer pricing, fraud management, product design, distribution, and management of the underlying customer relationships. The Group's Underwriting business, Advantage Insurance Company Limited, engages in risk selection, underlying technical pricing, reserving and claims handling.
Retail is supported by, and benefits from, Underwriting's prudent approach to risk and reserving and benefits from a panel of insurance partners which provide additional underwriting capacity. The Group's business model deliberately separates underlying product manufacturing from its distribution.
3 November, 2021