Car insurer Hastings' profits plummet 42% in tough market

(Reuters) - UK-listed motor insurer Hastings reported a 42.4% plunge in 2019 adjusted profit on Thursday, as it struggled with intense competition and steep car repair costs as well as a change in British market rules."It's not been an easy market environment, with lower prices and rising claims costs impacting our financial results for 2019," Chief Executive Toby van der Meer said. While the average cost of a motor insurance policy in Britain rose in 2019, competition and a change in the..