UPDATE 2-Light premiums weigh on UK insurer Hastings despite profit rise [Reuters (UK)]
Barclays PLC (BCS)
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Source: Reuters
UPDATE 2-Light premiums weigh on UK insurer Hastings despite profit rise | Reuters Reuters Staff 3 Min Read * FY adjusted operating profit rises 39 pct to 184.1 mln stg * FY Gross written premiums rise 21 pct, below estimates * Says competitive environment continues to be intense * Shares fall over 10 pct (Adds analyst, CFO comments, share movement, details) By Noor Zainab Hussain and Carolyn Cohn March 1 (Reuters) - British insurer Hastings Group Holdings Plc reported a 39 percent jump in full-year adjusted operating profit as it provided insurance to more customers and increased its market share, although a slowdown in premiums written took some of the shine off results. The company, which mainly sells motor insurance in the UK, said adjusted operating profit rose to 184.1 million pounds ($253.36 million) for 2017 from 132.1 million pounds a year earlier. Gross written premiums rose 21 percent to 930.8 million pounds, about 2.5 percent below consensus estimates, missing both Barclay
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