6th May 2016 06:45
LONDON (Alliance News) - Motor insurer Hastings Group Holdings PLC said its grew its market share in the first quarter as it saw a 17% year-on-year rise in live customer policies.
Hastings, which floated in London in October 2015, said live customer policies grew to 2.1 million at the end of March, up 17% year-on-year and from 2.0 million at the end of December.
The group's gross written premiums grew 29% year-on-year in the quarter to GBP171.0 million, while net revenue in the quarter rose to GBP132.7 million, a 22% year-on-year rise.
Hastings said its share of the UK private-care insurance market at the end of the quarter was 6.0%, up from 5.3% a year earlier.
"Our trading performance for the first quarter of 2016 demonstrates that we continue to deliver on our promises. Our differentiated and agile, data driven business model continues to drive profitable growth in customer policies and market share, and strong cash generation," said Hastings Chief Executive Gary Hoffman.
By Sam Unsted; [email protected]; @SamUAtAlliance
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