Travel insurer Cover-More says first-half profit has soared on premium growth, e-commerce ventures and strong distribution partnerships with agencies such as Flight Centre.

The company, which listed on the Australian Securities Exchange in December, now commands about 40% market share.

Net profit after tax and amortisation grew 53.9% to $12.1 million in the December half, while gross written premium was up 24% to $168.8 million on a pro-forma basis.

This was driven by “organic growth in the Flight Centre distribution relationship and India”.

CEO Peter Edwards says a commitment to innovation and geographic expansion underpins the performance and the group’s future growth strategies.

The company, which also offers medical assistance, says partnerships with roadside breakdown specialist Australian Automobile Club, Australia Post and Medibank Private also drove growth.

Mr Edwards says the Impulse e-commerce platform’s performance was a highlight of the half-year, following its launch in India and New Zealand with Malaysia Airlines and integration into Air New Zealand’s booking platform.

Net revenue grew 13% to $94.7 million in Australia, New Zealand and the UK and by 42% to $7.1 million in Asia.

The group expects to deliver on its full-year prospectus forecast.