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BUZZ-Hastings slumps 6.5% on estimate of discount rate hit

Reuters - UK Focus

** Shares in motor insurer Hastings fall 6.5% after it predicts 8.4 mln stg pretax charge in 2019 related to the proposed change in Britain's discount rate

** Britain is set to change discount rate used to calculate compensation for personal injuries to minus 0.25% from minus 0.75%

** Insurers were hoping for a higher rate to limit the money they must set aside to cover initial lump sum payments to victims

** Shares in peers Admiral, Direct Line and Sabre all fell on Monday following the proposed change

** Hastings the second biggest faller on the FTSE 250 midcap index by 0724 GMT on Tuesday (Reporting by Muvija M in Bengaluru)