Homeserve stays positive despite rising cash settlements

by David Masters

Story link: Homeserve stays positive despite rising cash settlements

Homeserve have announced that their emergency service business has been severely hit by an increase in cash settlements due to last summer’s floods.

The company said in a statement that although they are focusing on restoration work, their “additional workload continues to be offset by reduced volumes in other trades partly impacted by higher cash settlement volumes”.

In spite of the current difficulties, the company’s outlook is positive. “Our policy membership business is currently in its key period for marketing activity,” read the statement.

“Recently launched new utility products are performing well and, as previously indicated, we expect gross new policy sales at least to match the level achieved last year.

“The integration of our warranties and Homeserve GB businesses is progressing smoothly.”