7th Jun 2016 06:19
LONDON (Alliance News) - Insurer esure Group PLC on Tuesday said it has kicked off a strategic review of its GoCompare.com Holdings Ltd price comparison service and has appointed a new CEO for the unit.
The FTSE 250-listed firm said it has re-invigorated the marketing strategy at GoCompare.com in the first year after it acquired the remaining 50% of the business it had not previously owned. It also has restructured the cost base and widened the product focus of the service.
This has underpinned esure's guidance for GoCompare.com to deliver a 20% to 30% improvement in profit in 2016, the company said.
Given these positive developments, esure said it has kicked off a review of the strategic opportunities for the business, which will include a possible de-merger, and will update further when appropriate.
In addition, the company has appointed Matthew Crummack as the new chief executive of GoCompare.com. He is the former chief executive of LastMinute.com, the online leisure and travel booking service.
By Sam Unsted; [email protected]; @SamUAtAlliance
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