Hastings reports increased profit in Q3 2021
The provider's profit before tax hit £103m, highlighting an increase in customer policies despite premium reductions across the sector.
Hastings Group has reported further profits for the nine months ended 30 September 2021, with the company’s profit before tax reaching £103m, up from £76m in Q2 2021.
The provider revealed that its customer retention rates continue to be strong and “above market average”.
Despite observing premium reductions across the motor sector due to Covid, whiplash reforms and high competition, Hastings has grown its customer policies by 3% year on year, reaching over 3.1m.
Growth
The provider
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