British motor insurer Hastings has been bought for $2.2B by Sampo and Rand Merchant Investment (RMI). Sampo believes that Hastings can use its existing foothold in the U.K market to expand into other forms of insurance
“The digital distribution part of the UK market is still growing and Hastings has not yet to any significant degree grown in home insurance.”
Sampo CEO Torbjorn Magnusson