LifeSearch achieved £5.7m profit in the year to August 2015 – a 13% increase year-on-year.
LifeSearch achieved £5.7m profit in the year to August 2015 – a 13% increase year-on-year.
The life insurance agency made the announcement at its own LifeSearch Protection Awards yesterday.
LifeSearch's founder and chief executive Tom Baigrie celebrated a 13% increase in turnover to £22.3m and an 8% increase in pre-tax profit to £1.1m.
He said: “We have ambitious growth plans and expect 2016 to be another good year as our business continues to go from strength to strength.
“We recently announced our enhanced online and offline partnership with Comparethemarket.com, which in the last week contributed to us protecting an overall total of 1284 people, families and businesses, through around 1727 protection policies.
“We believe the key to delivering good advice is the wisdom that comes from longevity in a role, which is why we are also proud to have again shared around 30% of our profit this year between the 135 people who have been in the business for more than three years. This promotes loyalty and continuity for the benefit of both LifeSearch and all our customers.”
Baigrie added: “While we strive to do all we can to grow the market, in reality, our efforts cannot yet be of a scale able to buck the flat trend, so we today challenge insurers to put at the heart of every strategic discussion they have with us from now on, just what they are doing to grow the protection market. Collectively, we must work out how protection becomes genuinely relevant to the man in the street once more.”
Yesterday was LifeSearch’s 13th annual awards show.
The winners, as voted for by protection providers, were the following:
Best Service for New Customers
Winner: LV=
Best Provider for Existing Customers
Winner: Legal & General
Best Critical Illness Provider
Winner: Friends Life
Best Income Protection Provider
Winner: LV=
Most Improved Provider
Winner: Royal London
Best E-Commerce
Winner: AIG
Best New Initiative
Winner: AIG
Best Sales Material
Winner: LV=
Best Underwriting Team
Winner: Royal London
Best Individual Impact (joint winners)
Winner: Jonathan Watts (Aviva/Friends Life)
Nick Crossman Award for Best PR & Marketing:
Winner: VitalityLife
Best Protection Story in the Media:
Winner: Laura Shannon, Mail on Sunday
Best Protection Leader
Winner: Debbie Kennedy, Royal London
Best Overall Provider
Winner: AIG
