October 25, 2019 / 6:26 AM / 19 days ago

Hastings reports 2% rise in nine-month written premiums

Oct 25 (Reuters) - Insurer Hastings Group Holdings Plc on Friday reported a 2% rise in gross written premiums for the first nine months of 2019, as it signed more policies.

The company, which vies for market share with Direct Line Insurance Group Plc and Admiral Group Plc, said gross written premiums rose to 753.1 million pounds ($967.66 million) in the nine months ended Sept. 30. (reut.rs/31NCutU)

However, the company warned that its annual loss ratio may move above a target range if claims continue to get more expensive.

A loss ratio is the amount an insurer spends on claims compared to how much it earns on premiums. ($1 = 0.7783 pounds) (Reporting by Muvija M in Bengaluru; Editing by Shounak Dasgupta)

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