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Openwork triples number of protected individuals

Openwork triples number of protected individuals

Openwork has tripled the number of protection policies recommended to clients last year, after significantly adding to its protection adviser ranks in 2014.

The network's members wrote 134,000 policies in 2015, covering a total of 160,000 individuals.

This represents an uplift of more than 200 per cent on 2014, when Openwork wrote 44,000 policies.

At the end of 2014 Openwork announced it was enhancing its protection advice capacity by taking on MetLife UK’s protection advisers, who now collectively number more than 750.

At the start of last year Openwork confirmed it managed to keep the vast majority of about 900 advisers who were linked to MetLife at the time the deal was struck in September 2014.

By January 2015, a total of 861 had decided to stay with Openwork following the acquisition.

Mark Duckworth, chief executive of Openwork, said: “Protection is the cornerstone of both our business and approach to advice and it is extremely pleasing that we have managed to triple the number of individuals covered in such a short space of time.”

Openwork’s protection statistics came following the appointment of John Cupis as mortgage director.

The appointment was first announced in September, with Mr Cupis assuming responsibility for running and developing the network’s mortgage, protection and general insurance proposition this month.

He joined from being Sesame Bankhall Group’s managing director of mortgages for eight years.