Hastings boss eyeing a float as premiums up in first quarter

 
Caitlin Morrison
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HASTINGS Insurance Group increased gross written premium by 23 per cent in the first three months of 2015, up to £132.3m from £107.4m.

Combined operating ratio was also improved to 89.6 per cent from 93.7 per cent in the first quarter of last year.

Meanwhile, the firm’s customer numbers increased by 19 per cent to 1.8m.

Hastings boss Gary Hoffman, who in April confirmed that the group is still considering a public listing, said the firm is “well positioned to take advantage of significant market opportunities”.

This could include an expansion of its home insurance business, which Hoffman said “remains an attractive market for our digital based business model”.

He commented: “Following a strong performance in 2014, we are delighted that the same story continues for 2015; one of sustained profitable growth.”

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