Hastings Group
Hastings redeems £310m secured notes
Hastings Insurance Group has paid back £310m of fixed and floating rate senior secured notes, according to a London Stock Exchange notice.
Profit up 19% at Hastings in opening nine months
Operating profit for Hastings Group continues to track upwards, with a 19% increase to £93.8m for the nine months to 30 September (9M 2014: £79m).
Conditional dealings commence as Hastings IPO is priced at 170p per share
Hastings has confirmed the pricing of its initial public offering of 123,529,412 shares at 170 pence per share at a market capitalisation of £1.12bn.
Hastings to float with negative tangible equity, research house claims
Research firm Macquarie has predicted that the upcoming Hastings initial public offering will raise £180m for the company, but it will begin its life on the stock market with negative tangible equity.
Goldman Sachs could pocket 400% return on Hastings investment
Goldman Sachs could bank a return of 400% on its stake in Hastings following the UK motor player’s stock market floatation next month, if investors respond as expected, according to reports.
Hastings IPO tipped to benefit from recent M&A activity
The timing of Hastings Insurance Group’s initial public offering could attract investors with surplus cash following the recent spate of insurance mergers and acquisitions, according to industry analysts.
Hastings Insurance Group announces £180m IPO
Hastings Insurance Group has announced its intention to proceed with an initial public offering and float on the London Stock Exchange.
Hastings uninterested in 'international forays', says Hoffman
Hastings has no plans to emulate its rivals and expand into overseas markets, according to CEO Gary Hoffman.
Hastings sees GWP jump 24% in H1
Hastings Insurance Group saw gross written premium increase by 24% to £282.7m in the first six months of 2015 (H1 2014: £227.2m) aided by continued growth in customer numbers.
Hastings Direct
Rank: 10
Hastings adds Peter Blanc to its board of directors
Aston Scott executive chairman Peter Blanc has been appointed to the board of directors at Hastings Insurance Group along with legal private practice stalwart Selina Sagayam.
Young driver IPT exemption unlikely despite positive government talks
Hopes of securing an exemption from the insurance premium tax hike for young drivers are dwindling, despite “constructive” talks between industry figures and the Department for Transport last week.
Hastings adds non-executive directors
Hastings Insurance Group has further strengthened its board with the addition of four new non-executive directors, including former Axa chairman Pierre Lefèvre.
Roundtable: Telematics: a move into the mainstream
Will the falling cost of telematics devices see the technology move away from exclusively targeting young drivers and into other sections of the motor market?
Market Moves - 11 June 2015
Keep abreast of the insurance market's movers.
Hastings sees increases in first quarter GWP and revenue
Hastings has posted a 23% increase in gross written premiums for the first quarter of 2015, as well as a rise in the number of customers on its books.
Career file: Mike Fairey - Fairey named non-executive chairman at Hastings
Hastings Insurance Group has appointed Mike Fairey as its non-executive chairman, effective 1 June 2015.
Mike Fairey joins Hastings as non-exec chair
Hastings Insurance Group has appointed Mike Fairey as its non-executive chairman, effective as on 1 June 2015.
BGL founder Steyn ahead of Engelhardt and Wood in rich list
BGL founder Douw Steyn is the richest individual in the world of insurance after accumulating a fortune of £700m, according to the 2015 Sunday Times rich list.
MIB to take action as decline in uninsured drivers slows
Insurers have conceded they are largely powerless to prevent an uptick in uninsured drivers after the Motor Insurers' Bureau reported the number of motorists without insurance had “plateaued out” after a decade of steep decline.
Motor to be overtaken by home insurance growth at Hastings
Hastings CEO Gary Hoffman has targeted growth in the company's home insurance book after reporting "more than satisfactory" results for 2014.
Pre-tax profit and GWP up in ‘strong' year for Hastings
Hastings has reported increases in net revenue, profit before tax and gross written premiums for 2014.
AA refuses to rule out Gibraltar for "well advanced" new insurer launch plan
The AA is “well advanced” in its plans to launch a new insurance company vehicle to quote on its broker panel for motor insurance, with a launch expected within months.
Hastings looking to sell minority stake - report
Hastings Insurance Group is planning to sell a minority stake in its business, according to a Sky News report.