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Zurich eyes national and network deals to boost platform assets
by Jun Merrett on Feb 15, 2013 at 07:32
Zurich is eyeing further deals with nationals and networks to boost assets on its Zurich Intermediary Platform, which launched on 1 January.
Gary Shaughnessy (pictured), chief executive of Zurich's UK Life business, said the provider wanted to build on existing deals with Openwork and SimplyBiz.
Members of Zurich-owned Openwork are given a choice of using the Zurich platform or the network's Investment Funds Direct white-labelled offering. The platform has also linked with support service provider SimplyBiz's Verbatim investment proposition.
Shaughnessy (pictured) said: '[In 2013] our focus is on the retail platform and we'd like to grow that with strong partnerships.
'We've been open for business since 1 January and had good feedback from advisers. We're starting to get business on the platform and we've certainly got a warm reception. I'm very pleased with the number of advisers who have signed business, in terms of turning that into assets we need to work with advisers to make sure they're comfortable using the platform.'
Shaughnessy added that the positive results the life company's UK life arm posted earlier this week were also due to partnerships on both the retail and corporate side.
Operating profits rose 9% to £186 million and while the value of new business rose 28% to £123 million for 2012.
'[One] key thing for us when talking about the growth of new business value is the partnerships we've got, with Mercer in the corporate [space] and Openwork in the retail market, we're increasing our breadth of relationships right across the market which is very important for growing our business,' he said.
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