Sesame Bankhall Group has reported a loss for the financial year ended 31 December 2015 of £11.6m.
The loss came despite Sesame's owner Aviva providing £25m of “support” in 2015 to the intermediary group (SBG) so that it could pay “any liability”.
The loss for 2015 came after the group reported a loss of £7.9m in 2014.
Despite the loss figure standing at over £11.6m, the highest paid director at the intermediary was paid £508,000 last year.
The total remuneration for directors stood at £2m for 2015 against 2014's figure of £1.4m.
In March this year, Andy Briggs, chief executive of Sesame's owner Aviva UK and Ireland Life, backed a revamped Sesame.
The provider forced an overhaul at the advice group following its takeover of Sesame parent Friends Life last year.
At that time, Mr Briggs made assurances that “Sesame has had a great year,” after the strategic review into the advice firm concluded last year and saw the plug pulled on Sesame's investment network.
His comments suggested a turnaround in Aviva’s attitude towards Sesame.
At the start of last year and ahead of the Friends Life acquisition, Aviva stated in a note to shareholders that it would not provide “open-ended” financial support to the lost-making advice network, and without a return to profit it would cease to trade.
