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UK insurer Hastings first-half core profit up 22.1 percent

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UK insurer Hastings first-half core profit up 22.1 percent

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(Reuters) – British insurer Hastings Group Holdings Plc <HSTG.L> reported a 22.1 percent jump in first-half adjusted operating profit, as legal changes drove up the cost of motor insurance premiums in the country. The company, which mainly operates in the UK motor market, said adjusted operating profit rose to 86.5 million pounds ($112.42 million) for the six months ended June 30 from 70.8 million pounds a year earlier. Gross written premiums rose 28 percent to 462 million pounds during the period.

(Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Sunil Nair)
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