The UK boss of Homeserve, which provides home emergency insurance cover and repairs, is to step down, as the business reports growing success in its overseas markets.

Martin Bennett will leave his role later this year having worked for the company for 15 years, nine of which were as a member of the board.

Reporting its results for the year to March 31 on Tuesday, Homeserve said foreign markets were driving its growth. While customer numbers had remained stable in the UK, at around 2.2 million, in North America they soared by 20pc to 3.6 million.

The good performance in the US helped bump the company’s pre-tax profits by 25pc to £123.3m, while revenues grew 15pc to just below £900m. It declared a full-year dividend of 19.1p, up 25pc.

Meanwhile, Homeserve had double digit growth in both its French and Spanish operations.

Richard Harpin, founder and chief executive, said: “This has been another great year for HomeServe, with record profit growth and another step change in our growth in North America.”

Shares in the company were up 0.83pc at 849p on Tuesday on the back of the results.

HomeServe share price

Homeserve has sought to boost its capabilities in the last few years by acquiring other companies. In November, it bought the AA’s home emergency business and the right to run the AA’s emergency service that is sold via other home insurance policies, covering around 400,000 people.

It also recently completed a deal to take complete ownership of builder and plumber reviews website Checkatrade.

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