Comparator iSelect will wipe up to $14 million from its after-tax profit for last financial year, after trail commissions from health insurers were written down by $16-$20 million in an independent audit.

The revaluation accounts for increased lapses in the two health insurance funds that provide most of the trail book.

An iSelect spokesman declined to name the two insurers when questioned by insuranceNEWS.com.au.

The comparator recently gave “partner awards” to Health.com.au and AHM as two health insurers that “are working the hardest to better meet your needs; whether it be in the area of product features, value for money, innovation or customer experience”.

In 2012/13 total trail commissions were $106.9 million, according to iSelect’s report for that year.

Despite the writedown for 2013/14, the comparator expects operating revenue to be up 14%, with commissions accounting for less than 28% of total revenue.

The full-year results will be announced on Thursday next week.