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Hastings cuts dividend as claims costs rise

Hastings cuts dividend as claims costs rise

Hastings (HSTG) has warned that adjusted operating profits for 2019 will come in at around 13 per cent below consensus due to higher-than-expected claims costs. The insurer guided to profits in the region of £110m, below the £191m earned in 2018, after expectations for the claims loss ratio rose to between 81 and 82 per cent, from the 79 per cent anticipated in October. 

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