Shares in online retailer Kogan.com have jumped following news it will soon sell pet insurance as it continually expands its business.
Kogan.com says it has struck a partnership with PetSure, a subsidiary of The Holland Insurance Company, and will launch its pet insurance offering in the second half of the current financial year.
The deal follows last week's announcement that Kogan had signed an agreement with private health insurer Medibank Group to sell budget health insurance.
Shares in Kogan were up 45 cents, or nine per cent, at $5.40 at 1200 AEDT on Monday, significantly higher than its issue price of $1.80 a share last year.
Kogan's agreement with PetSure will allow it to sell pet insurance policies under a new brand dubbed Kogan Pet Insurance.
The company says it will focus on selling a range of affordable pet insurance products and will earn commission on each policy sold.
Executive director David Shafer said pet insurance was a growing category and Kogan had teamed up with one of the market's leaders.
Kogan, which listed on the share market in July 2016, has been expanding beyond selling electronics, apparel and other goods to take advantage of its extensive database of customers.
Alongside its retail business, it sells travel deals, mobile prepaid plans, home, car and travel insurance policies, and, more recently, fixed-line national broadband network home internet plans.