Financial advisers becoming more aware of general insurance, says sales boss

Ardonagh-group owned Paymentshield achieved record sales last month as financial advisers wise up to general insurance benefits.

That is the message from Paymentshield sales director James Watson, who said sales were up 22% in September compared to the same month last year.

The September sales surge surpasses the previous record in June, according to Mortgage Introducer

Watson said: “Our September sales results are hugely encouraging and demonstrate a heightened awareness among advisers when it comes to the financial benefits of quoting for GI on a mortgage application.

“Our goal now is to increase this further and get to a point where a clear majority of mortgages have a GI quote applied.

“To achieve this, we’ll be continuing to work closely with advisers and optimising our proposition to make the process of protecting what matters most to their clients as simple as possible.”

Back in 2013, speculation had been rife that under previous Towergate boss Mark Hodges Paymentshield would be sold, with advisors Morgan Stanley reportedly hired in.

Since then, talk has quietened as Towergate has been taken over by  private equity-backed consolidation vehicle Ardonagh Group, led by David Ross.