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Sustainability
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Sustainable Business Management and Practices
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Sustainability
Financial Targets
Financial targets for 2021-2023
Group P&C insurance operations
- Ambition to grow underwriting profits by mid-single digit percentage per annum on average from the 2020 level excluding COVID-19 effects
- Group combined ratio below 86 per cent
If
- Combined ratio below 85 per cent
Hastings
- Operating ratio* below 88 per cent
- Calendar year loss ratio** below 76 per cent
*) Calculation formula: (claims + operating expenses + operational D&A)/net revenue excluding investment income
**) Consistent with historical Hastings disclosures, equivalent to If risk ratio.
Group capital management
- Solvency II ratio 170 – 190 per cent
- Financial leverage* below 30 per cent
- Dividend payout ratio at least 70 per cent of net profit excluding extraordinary items
- Progressive insurance dividend
- Return excess capital to shareholders
*) Calculation formula: financial debt/(financial debt + IFRS equity)
Updated 19 May 2022