Price comparison website firm Moneysupermarket has posted record group revenue of £432.1m for the financial year to 31 December 2023, up 11% on the previous year and based on what the company describes as ‘exceptional’ trading in the insurance segment.

Insurance-specific revenue saw a 28% increase to £220m, largely down to high levels of switching in motor and home cover. Figures for travel cover also rose by 9% but with Q4 growth slowing in what it described as a competitive market.

Commenting on the preliminary results, Peter Duffy, CEO of Moneysupermarket Group, said: “We helped customers save a record £2.7bn in 2023. The more we can help households save, the more the group grows. We’re proud that in tough times for consumers, MoneySuperMarket, MoneySavingExpert and Quidco have been able to make a real difference for so many.”