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Insurance Group Hastings Surges In Harsh Climate

insurance businessHastings Group Holdings Plc, an insurance firm based in the UK, have reported an increase of approximately 19 percent in their operating profits in the first nine months of 2015. This growth spurt has been spearheaded by a rise in gross written premiums.

Hastings Insurance decided to list themselves on the London Stock Exchange last month. A spokesman said: "Operating profit has risen to £93.8 million for the nine months ending September 30th from £79 million last year. Gross written premiums also rose by 26 percent to £454.3 million."

Hastings chief executive Gary Hoffman said: "Our strong results for the period demonstrate that Hastings' refreshingly straightforward approach to insurance continues to resonate with our customers and puts us on target for another record year."

According to official figures, Hastings' market share of private car insurance policies has risen by 0.8 percent to reach 5.7 percent. Mr Hoffman added: "Since our half year, we have achieved a number of key milestones that support the profitable, sustained growth of our business. I am delighted to announce that we now provide cover for over 2 million customers, nearly double the number we had when I joined the group in November 2012."

James Savery, 18 November 2015

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