Fast-growing internet bank Egg has revealed plans to add insurance broking to its list of financial services.

The web-based bank's launch into the personal lines market is scheduled for the second half of August this year.

It is aiming to offer motor and household lines from a panel of ten insurers with household name risk carriers among them.

An Egg spokeswoman said: "Egg is planning a virtual supermarket on the internet providing general insurance products."

She declined to provide exact details, such as the names of the participating insurers before the official launch in late August.

However, reports suggest that customers will be offered standardised products and add-ons to facilitate easy price comparison and a personal manager to help with claims.

Egg, owned by Prudential, unveiled a net-loss of £80.7m for the first half of this year, up from £69m for the same period last year. Administrative costs increased by £25.3m to £92m, mainly due to a rise of £14m in brand and marketing costs. Customers grew by more than 300,000 to 1.1 million.