Hastings Group Holdings PLC (HSTG.L)
13 Sep 2019
Tue, Jul 16 2019
British motor insurer Hastings warned on Tuesday of a $10 million (£8.03 million) hit to its profits from a change in the discount rate used to calculate compensation for personal injuries, with rivals expected to follow.
* Admiral, Direct Line say reserves based on 0% rate (Adds Direct Line comment)
Insurer Hastings Group said on Friday its loss ratio for the year would inch towards the higher end of its target range as third-party property damage costs rose, even as it reported higher quarterly gross written premiums.
April 26 British insurer Hastings Group Holdings Plc said on Friday first-quarter gross written premiums rose 4 percent as more customers bought policies, even as it battled intense competition.
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