Low prices drive trade to Hastings

Insurer Hastings has said drivers who shop around to reduce their motor premiums have accelerated its profits.

The group said almost threequarters of UK drivers who switch their motor insurance policy do so through comparison websites and it scoops up about 12% of that business.

It now has a 7% share of the UK private car insurance market, up from 6.2% at this time last year.

“Our significant presence and strategic focus on price comparison websites, together with our straightforward insurance offering, appeals to customers,” said chief executive Gary Hoffman.

It helped first-half profits climb 22% to £86.5million.