Type Public limited company Industry Insurance CEO Gary Hoffman (Nov 2012–) Founded 1997 Net income 2.3 million GBP (2015) | Traded as LSE: HSTG Website www.hastingsplc.com Revenue 481 million GBP (2015) Headquarters Bexhill-on-Sea | |
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Key people Mike Fairey, (Chairman)
Gary Hoffman, (CEO) Subsidiaries Hastings Insurance Group (Investment) Plc | ||
Hastings Insurance is a UK personal lines insurance broker servicing customers online, by phone and by branch. The company provides car, bike, van and home insurance, as well as a range of ancillary products and services such as breakdown cover, personal accident, substitute vehicle and key and legal cover. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
Contents
History
The company was established, based on business plan prepared by David Gundlach and Andrew Bowen, as "Hastings Direct" in 1997. It was acquired by Insurance Australia Group in 2006 and then by its management in 2009. In 2011 the company announced that 150 new posts would be created, with the first 60 to be recruited in January in the Bexhill, Hastings, Eastbourne, Brighton and Hove areas. Goldman Sachs acquired a 50% interest in the company in 2013. The company was the subject of an initial public offering in October 2015.
Operations
The company trades under the Hastings Direct, Hastings Premier, Hastings Essential, SmartMiles, People's Choice and insurePink brands.
In 2012, the company launched a usage-based insurance product under the Hastings Direct SmartMiles brand. The SmartMiles product requires a telematics device to be fitted to the insured vehicle.
The company is known for its mascot, Harry Hastings, an animated figure dressed in armour from the Battle of Hastings in 1066.
Based in Bexhill-on-Sea, the company is one of the largest employers on the South Coast. The company also has a second call centre in Newmarket, Suffolk and has recently opened a third call centre in Leicester.
Sponsorship
The company sponsored the Eastbourne International tennis tournament between 2003 and 2007 in a deal worth £350,000 per year.