Trading under retail brand HomeProtect, digital home insurer Avantia has recorded a £14.1m gross profit for 2019, up by 21% on the previous year.

Year on year, turnover grew by 23% to hit £18.2m while the group said retention rates were up by 1.4% and stood at 75.4%.

Mark Eastham, CEO at Avantia, said: “The strength of our performance this year is testament to the quality of our market leading Cortex decisioning platform and the hard work of our talented people. After achieving record results in 2019 I am delighted that we have maintained our positive trajectory through 2020, despite the challenges of COVID-19.”

The group highlighted the transition of its premium finance operation in-house and the migration of its claims handling operation to a large claims management group as key features in its strong results.

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