Student insurance specialist Endsleigh Insurance Services reported a pre-tax profit rise of 48% in 2003, as it continued to expand its business to cover a broader market.
Its pre-tax profit rose from £5.7m in 2002 to £8.4m in 2003, while turnover also increased by 7%, from £49m in 2002 to £52m in 2003.
Endsleigh spokesman Stuart Wartalski said: "These are record profits for us and it is due to the strong performance from the internet and our core products."
Endsleigh was formed by the National Union of Students (NUS) in 1965, with the initial remit of negotiating suitable cover for students.
It has since expanded its business to provide cover for the broader market across its main lines of motor, household, travel and pet insurance, as well as commercial insurance.
Endsleigh also runs a number of specialist schemes, including schemes for professional and amateur sports people as well as charities and not-for-profit organisations.
In 2003, it signed a deal with the financial services arm of Premiership football club Manchester United to launch an online insurance service for Manchester United season-ticket holders.
Endsleigh results
2003: £52.3m 2002: £48.8m
2003: £8.4m 2002: £5.7m
