PruProtect has announced a significant rise in new business premiums and the number of lives it now covers.
The figures came with the release of its annual results for 2011 that show the four-year-old provider completed the year with an 8.75% share of the IFA protection market.
It also reported a post-tax profit of £7.3m.
New business premiums were up 31% compared to 2010, with annualised new business sales of £31.4m in 2011.
Average new business premiums have increased by 60%, which the provider put down to a new product launch last March and new distribution agreements.
It has recently signed deals with St James Place, Pink, Mortgage Advice Bureau and Simply Biz.
In force annual premium income increased 89% to £55.3m by the end of 2011.
Herschel Mayers, CEO of PruProtect, told COVER he was very satisfied with the insurer's performance.
"It's a very pleasing set of results and we've made significant progress," he said.
"The market share of almost 9% is one of the highlights along with the growth of our footprint.
"Although it's at an early stage the revamped Vitality programme is also gaining significant traction.
"Our growing presence in the intermediary market and continued development of relationships with advisers has culminated in a year of strong financial performance that positions the company well for future growth," he added.
