MetLife and Openwork have agreed to the transfer of up to 930 of MetLife's self-employed advisers and a new agreement enabling the network to distribute its protection proposition more widely.
The agreement provides Openwork with an expanded nationwide network from which it can distribute its broader protection product range, which will now include MetLife's Accident Protection product.
Transferring advisers will have access to a protection proposition including income protection, life insurance, critical illness and accident protection cover, as well as benefitting from Openwork's automated business submission.
The agreement accelerates MetLife UK's delivery of growth plans for its individual protection business and strengthens the long-term strategic focus on its fast-growing wealth management and employee benefits businesses.
MetLife UK has achieved sustained growth for its individual protection business, which now has over 100,000 customers since it assumed control of the business as part of the Alico acquisition in 2010.
Mark Duckworth, managing director at Openwork, said: "We are thrilled to be taking on MetLife UK's protection advisers. The agreement reinforces our commitment to support closing the protection gap and takes our total number of advisers across the group to 3,000. Our new colleagues will be able to recommend a broader proposition to their clients and enjoy enhanced technological capability, accelerated career progression and the support to build on the success they have already achieved with MetLife."
