The home insurance group Homeserve is celebrating. Recording a 13% rise in the full year profit and raising its dividends by nearly a quarter, the Company is extremely happy.

Further, it is being forecasted that trend would continue in its core home market.

The Company Homeserve provides cover for emergencies such as broken boilers and overflowing washing machines. Official reports claimed that since the policies increased 7% to 7.5 million in Britain and expectations for customer growth also raised in 2011 to 3-4%.

The growth in profits is further attributed to the high retention levels of customers and strong international growth.

Mark Fleetwood said that, "Good growth in our view remains achievable in the UK and we are confident that replication of the UK model internationally will prove a success, particularly following recent developments in the U. S”.

Commenting on the growth, Chief Executive Richard Harpin said that the group would continue to engage in both organic and inorganic growth, with a war chest of 100 million pounds that would be spent on the possible acquisitions of in-house utility home cover services.

Reports claim that Homeserve has reported an underlying pretax profit for the year to end-March of 100.6 million pounds. The estimates for the profits ranged at 88.7 million, but due to the international profits the rise was manifold.