Online aggregator Compare Insurance has announced income of more than £3m for 2023 and said more than £1m of this total was new business. The firm said it had grown by 60% during the year and forecast growth of a further 50% in 2024.

Mark Thomas, founder and director of Compare Insurance, said: “Over the last 15 years, the Compare Insurance team and I have worked incredibly hard… By investing in new and advancing technologies, we have been able to not only improve our service offering but also increase the number of enquiries we receive, which has really accelerated growth over the last year.”

The company is headquartered in South Wales and supports more than 14,000 SMEs each year.