Moneysupermarket reports 5% rise in insurance revenues

by Gill Montia

Story link: Moneysupermarket reports 5% rise in insurance revenues

Moneysupermarket.com has reported that insurance revenues increased 5% in the third quarter of 2009, compared to a year earlier.

The result was also more than 15% ahead of the quarterly rate in the first six months of the year.

Motor insurance revenues returned to growth, having declined over the first half of 2009, and home and travel business grew strongly.

However, revenues generated by the price comparison website’s money section were down 40% year-on-year, although showing a 10% uplift compared with the quarterly rate over the first half.

Commenting on the results, the group’s chief executive, Peter Plum, said: “Overall, we are pleased with the performance in the year to date which is in line with the board’s expectations and remain confident that our sharp focus on delivery and the customer means that moneysupermarket.com is better placed than ever to capitalise on its strengths when growth returns to our markets.”