iSelect general, life earnings drop
Comparator iSelect says its general and life insurance business recorded weaker earnings in the December half, with operating revenue down 11% to $6.6 million from a year earlier.
iSelect does not provide a breakdown for general and life results but says the former has been impacted by regulatory changes that commenced last October.
The changes led to reduced ability to cross-serve into general insurance, with increased consent requirements from potential customers needed before they can be cross-served, iSelect says in its half-year report for the six months to December.
The comparator reported $0.5 million in net profit during the period. In the year-earlier period, it was a $3.6 million loss.