Internet bank Egg announced it would be concentrating on the general insurance market as it announced a drop in operating profits.
UK operating profits at the Prudential-owned internet bank for the three months to 30 September fell to £18.6m from £20m a year ago.
Egg chief executive Paul Gratton said the results were not all doom and gloom, citing increasing sales of motor insurance policies to 25,000, up from 2,000 in the same period last year.
He said the market of insurance policies featured heavily in the future of Egg. He declined to give details of the new initiatives.
