Hastings Direct
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Hastings Direct - overview
Established
1997
Location
Bexhill, -, UK
Primary Industry
Insurance
About
Hastings Direct is a UK-based insurance provider specializing in car, home, motorbike, and van insurance, delivering flexible coverage options tailored to individual customer needs. Founded in 1997 in Bexhill, UK, Hastings Direct is an insurance company that provides various insurance products. The company underwent an IPO in October 2015, raising GBP 210 million, which gave it a market capitalization of GBP 1. 117 billion.
The current CEO is Adam Malcolm. Hastings Direct primarily offers a range of insurance products, focusing on car insurance, home insurance, motorbike insurance, and van insurance. Their core offerings include Comprehensive Hastings Direct Insurance, Hastings Premier, and YouDrive, a telematics-based insurance policy designed to reward safe driving habits, particularly appealing to young and new drivers aged 17-25. These services aim to provide flexible coverage options tailored with various extras to meet individual customer needs, serving a diverse clientele across the UK, including families and young drivers seeking affordable insurance solutions.
In 2023, Hastings Direct generated revenue of GBP 636,272,821. 20 with an EBITDA of GBP 107,227,208. 60. The company primarily earns revenue through direct-to-consumer insurance policies purchased online, with clients often opting for flexible coverage options and additional services such as roadside assistance or claims support.
Following its IPO on October 12, 2015, Hastings Direct plans to invest in developing new insurance products and expanding its market reach. The recent funding from the IPO will be utilized to support new product launches and geographic expansion initiatives in the UK insurance market.
Current Investors
Goldman Sachs Asset Management
Primary Industry
Insurance
Sub Industries
Personal Insurance
Website
www.hastingsdirect.com
Company Stage
Mature
Total Amount Raised
Subscriber access only
Hastings Direct - timeline of key events
Hastings Direct - financials
| Fiscal Year Ended | Jun 30, 2010 | Dec 31, 2010 | Dec 31, 2011 | Dec 31, 2012 | Dec 31, 2013 | Dec 31, 2014 | Dec 31, 2015 | Dec 31, 2016 | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 58,017,892 | 43,331,216 | 105,091,000 | 142,439,000 | 171,541,000 | 204,469,000 | 243,372,000 | 288,499,000 | 335,340,000 | 331,600,000 | 330,300,000 | 337,200,000 | 375,400,000 | - | - | - |
| % Revenue Growth (YoY) | - | - | - | 35.5% | 20.4% | 19.2% | 19.0% | 18.5% | 16.2% | (1.1%) | (0.4%) | 2.1% | 11.3% | - | - | - |
| EBITDA (USD) | 7,807,622 | 5,845,320 | 21,087,000 | 41,748,000 | 40,297,000 | 69,187,000 | 94,405,000 | 100,975,000 | 114,927,000 | 123,400,000 | 93,000,000 | 48,300,000 | 50,800,000 | - | - | - |
| Operating Income (USD) | 5,322,071 | 4,276,108 | 18,153,000 | 39,392,000 | 37,245,000 | 65,536,000 | 89,894,000 | 95,439,000 | 109,494,000 | 116,300,000 | 77,700,000 | 30,600,000 | 29,500,000 | - | - | - |
| Operating Margin | 9.2% | 9.9% | 17.3% | 27.7% | 21.7% | 32.1% | 36.9% | 33.1% | 32.7% | 35.1% | 23.5% | 9.1% | 7.9% | - | - | - |
| % EBITDA Margin | 13.5% | 13.5% | 20.1% | 29.3% | 23.5% | 33.8% | 38.8% | 35.0% | 34.3% | 37.2% | 28.2% | 14.3% | 13.5% | - | - | - |
| NET Income (USD) | 5,876,483 | 3,056,697 | 14,583,000 | 27,775,000 | 27,220,000 | 51,388,000 | 67,692,000 | 76,139,000 | 88,361,000 | 94,900,000 | 63,200,000 | 24,410,000 | 23,900,000 | - | - | - |
| % Net Margin | 10.1% | 7.1% | 13.9% | 19.5% | 15.9% | 25.1% | 27.8% | 26.4% | 26.3% | 28.6% | 19.1% | 7.2% | 6.4% | - | - | - |
Hastings Direct - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| IPO | Completed | Hastings Direct | - | ||||||||
| Buyout | Completed | Hastings Direct | - |
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Hastings Direct - employee data
Hastings Direct - key contacts
| Name | Position | Start Date | End Date | Vcard | Bio | ||
|---|---|---|---|---|---|---|---|
| Chairman Of The Board Of Directors | BM |
BM Board Member
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