Stonebridge Group reports 79% increase in life business

clock • 2 min read

Mortgage and insurance network Stonebridge Group has reported that Life business volumes rose by 79% during 2015 compared to the previous year.

The network reported £7.59 million of life sales completed during the 12-month period; this was 79% up on 2014's £4.23 million.

Some £9.04 million of life applications were placed through Stonebridge, again up considerably (59%) on 2014's £5.68 million.

Mortgage completions were £2.76 billion for the year, up 66% on the £1.66 billion placed in 2014.

During Quarter 4 last year, £1.05 billion worth of applications were placed through Stonebridge - the second quarter in a row that applications reached or exceeded £1 billion.

Stonebridge also increased its overall adviser numbers within the network from 203 in 2014 to 404 by the end of 2015.

The network has said that it is in the process of developing a protection/General Insurance call centre plus a retirement plan for advisers and firms considering their exit from the industry.

Richard Adams, managing director of Stonebridge Group, "Part of the reason why the Group has seen considerable increases in life business is because of the growth in our AR numbers and this was always going to feed through into an upward trajectory for our volumes.

"However, we are also seeing growth in the life area across the board, and this is down to both a considerable focus on this part of the market from ourselves and a greater level of engagement from our advisers. I think we all understand that today's adviser needs to cover off as many client needs as possible, not just concentrating on the mortgage and nothing else.

"Our mortgage numbers for instance are up 64%, compared to our protection at 72% year-on-year; this highlights our market-leading mortgage to life ratios. We continue to preach the benefits, for both adviser and client, in making sure that product needs, whether they be mortgage, life, protection or other, can be catered for at the one source.

"Why take the risk of allowing your client to go elsewhere for advice which you can easily offer? That message is hitting home and certainly amongst Stonebridge ARs we have witnessed much more appetite to deliver an all-encompassing advice package, rather than just be confined to one product."

More on Whole of Life

Royal London extends online trusts to WOL

Royal London extends online trusts to WOL

New discretionary trust form includes cohabitees

Cameron Roberts
clock 11 March 2024 • 1 min read
Vitality: Unemployment biggest driver for cancelled life insurance

Vitality: Unemployment biggest driver for cancelled life insurance

Financial pressures still front of mind

Laura Miller
clock 28 November 2023 • 2 min read
Timpson warns of dangers associated with joint life policies

Timpson warns of dangers associated with joint life policies

Can contribute to economic and domestic abuse

Hemma Visavadia
clock 02 December 2022 • 2 min read

Highlights

COVER Survey: Advisers damning of protection insurer service levels

COVER Survey: Advisers damning of protection insurer service levels

"It takes longer than ever to get underwriting terms"

John Brazier
clock 12 October 2023 • 5 min read
Online reviews trump price for young people selecting life and health cover

Online reviews trump price for young people selecting life and health cover

According to latest ReMark report

John Brazier
clock 11 October 2023 • 2 min read
ABI members with staff neurodiversity policy nearly doubles

ABI members with staff neurodiversity policy nearly doubles

Women within executive teams have grown to 32%

Jaskeet Briah
clock 10 October 2023 • 3 min read