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27 Feb 2017 09:19
FOR IMMEDIATE RELEASE
27 February 2017
Hastings Group Holdings plc (the "Company")
Ogden Rate Change
The Company notes the announcement made today by the Lord Chancellor regarding the change to the discount rate applicable for personal injury damages awards from 2.5% to -0.75% ("Ogden rate change").
As a result of the Ogden rate change, the annual results for the financial year ended 31 December 2016 ("Annual Results") will include a one-off pre-tax charge of £20m. This charge will not have any impact on the Board's deliberations regarding the proposed 2016 final dividend recommendation. The Company does not expect the Ogden rate change to have a material impact on the Group's financial outlook for 2017.
The Company is scheduled to release its Annual Results on 2 March 2017.
Hastings Group+44 (0) 142 473 8366Richard Hoskins, Chief Financial OfficerLouise Underwood, Director of Investor Relations
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