General insurance stars for iSelect
iSelect’s general and life insurance business achieved a 12% rise in operating revenue to $13.2 million in the December half.
The comparator benefitted from a 30% rise in revenue per sale lead from home and contents, pet and travel insurance.
Earnings before interest, depreciation, taxation and amortisation (EBIDTA) reached $3.2 million, up from $943,000 in the corresponding half of 2017.
“The significant year-on-year EBITDA improvement can be attributed to growth in the general insurance businesses, some of which launched throughout [2017/18],” the company says.
iSelect does not provide individual figures for its general and life insurance businesses, preferring to combine their results.
At the company level, operating revenue declined 8% to $74.3 million and the statutory net loss worsened to $6.9 million from $1.5 million.