Comparison website iSelect says general insurance products on its platform performed strongly last financial year, despite COVID-19 affecting travel volumes, while life earnings declined.

Life and general insurance revenue, reported together in the results, fell 26% to $18.5 million, while underlying earnings before interest, tax, depreciation and amortisation (EBITDA) fell 53% to $3 million.

The comparison site made an overall loss of $43.5 million compared to a $4.4 million loss a year earlier, including an impairment charge on its Energy Watch business and with leads and revenue at its key health insurance division heavily impacted by the pandemic.

iSelect says revenues for the general and life division were affected by changes in sales mix and life market reforms, with general insurance contributions this year representing a higher percentage of the total.

General insurance conversion rates improved, but its EBITDA was affected by less cross-selling from the high-volume energy business, which was weakened by regulatory changes.

In terms of partnerships, iSelect says its home and contents, pet (Choosi) and business (Bizcover) year-on-year growth was 57% in the second half.

CEO Brodie Arnhold says iSelect’s service is “more relevant than ever” as households look to reduce financial pressures.

“While the market is beginning to show resilience, bouncing back from the lows of COVID-19 in March and April, the extent of this recovery is still dependent on efforts to contain the virus and the outlook for the underlying economy,” he said.