Sales boost for Hastings

Hastings has reported a 17% surge in sales in the first quarter of the year, driven largely by new motor policies.

Its share of the car insurance market increased from 5.3% this time last year to six per cent, with total customer policies now up to 2.1 million.

As a result, net revenues rose by more than a fifth (22%) to £132.7m in the three-month period. This was reflected on the stock market, where its shares increased by two per cent to 180p.

Hasting floated on the stock market in October.