Sales rise: Moneysupermarket ads feature actress Judi Dench (pictured)
Moneysupermarket made record revenues last year as households looked for better deals on their insurance.
The comparison website, whose ads feature actress Dame Judi Dench, said revenue rose 11 per cent to £432.1 million in 2023, while profits rose 8 per cent to £92.1 million pounds.
While there was little incentive for customers to switch energy suppliers due to the price cap, business was boosted as households tried to find cheaper car and home insurance in the face of “exceptionally” large price increases.
But it said rising auto premium costs began to stabilize towards the end of the year and the group expects it will be more difficult to match the same levels of insurance revenue during 2024, particularly in the second half.
The group said auto insurance premiums rose 35 percent in late November, while home coverage rose 34 percent.
Chief executive Peter Duffy said: “We helped customers save a record £2.7bn in 2023.”