London Stock Exchange welcomes Hastings Group to the Main Market
Hastings Group Holdings Plc ("Hastings") heads a Group which is a fast growing, agile, digital general insurance provider operating principally in the UK motor market. It provides private car and other forms of personal insurance cover in the United Kingdom.
As at 30 June 2015, the Group had a 5.5 per cent share of the UK private car insurance market and 1.88 million live customer policies, having grown the number of live customer policies at a compound rate of 22.5 per cent over the last three financial years. Since the business was founded in 1997 with 50 employees, Hastings now employs over 2,000 working at its offices in Bexhill-on-Sea, Newmarket, Leicester and Gibraltar.
Gary Hoffman, CEO for Hastings, commented: "Today marks a special day for us as we embark on the next exciting chapter for our business and join the London Stock Exchange. The strong support we have seen from investors is a ringing endorsement of the profitable and sustainable business, made for the way customers buy insurance, that our 2,000-plus colleagues have helped to build. "
Credit Suisse is acting as Joint Global Co-ordinator, Joint Bookrunner and Sole Sponsor, Goldman Sachs is acting as Joint Global Co-ordinator and Joint Bookrunner, and Barclays and HSBC are acting as Joint Bookrunners. Additionally, Keefe, Bruyette & Woods, a Stifel Company, is acting as Senior Lead Manager, and Peel Hunt is acting as Lead Manager. Freshfields Bruckhaus Deringer is acting as Legal Counsel to Hastings and Instinctif Partners as Financial PR advisor.