LONDON, March 2 British insurer Hastings Group
Holdings Plc reported a 5 percent jump in full-year
operating profit on Thursday, driven by as it increased
customers and market share.
Hastings reiterated, however, that its results included a
one-off pre-tax charge of 20 million pounds ($24.55 million)
after Britain's justice ministry this week changed the rate for
calculating lump sum payments for personal injury claims. The
move is expected to lead to sharp increases in the payouts.
The company, which mainly operates in the UK motor market,
said in a statement that operating profit rose to 132.1 million
pounds ($162.18 million) for the year ended Dec 31.
Gross written premiums rose by 25 percent to 769 million
pounds, with live customer policies rising by 15 percent to 2.35
Hastings said it would pay a final dividend of 6.6 pence per
share and total dividend of 9.9 pence.
($1 = 0.8145 pounds)
(Reporting by Carolyn Cohn and Noor Zainab Hussain, editing by