Sales up: Moneysupermarket’s adverts function actress Judi Dench (pictured)
Moneysupermarket raked in document revenues final yr as households looked for higher offers on their insurance coverage.
The comparability web site, whose adverts function actress Dame Judi Dench, stated revenues rose 11 per cent to £432.1million in 2023 whereas income have been up 8 per centto £92.1million.
While there was little incentive for patrons to modify power suppliers because of the value cap, enterprise was boosted as households tried to seek out cheaper automotive and residential insurance coverage within the face of ‘exceptionally’ large value hikes.
But it stated the ramp-up in automotive premium prices began to stabilise in the direction of the top of the yr and the group is anticipating it to develop into tougher to match the identical ranges of insurance coverage revenues over 2024, notably within the second half.
The group stated automotive insurance coverage premiums jumped by 35 per cent to the top of November, whereas house cowl rose by 34 per cent.
Chief government Peter Duffy stated: ‘We helped customers save a record £2.7billion in 2023.’