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Openwork protection panel grows

Openwork has expanded its protection panel from two to five providers.

Until last December, the firm was tied with Zurich for protection, which holds a 25 per cent stake in the network.

Openwork expanded its protection panel to two providers with the inclusion of LV= in December 2009. The new panel, which will go live in September, will also include Aegon Scottish Equitable, Axa and Legal & General.

Openwork advisers will still be able to choose between operating the new panel or continuing with the existing panel.

More details on the panel’s implementation will be revealed later in the summer.

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