At the awards, held at the Cafe Royal in London, Pru Health chief executive Shaun Matisonn won personality of the year.
The Protection Review innovation award was given to Direct Life and Pensions for its quote system Intelligent Protection.
On receiving the award, Wheatcroft said: “I feel very flattered indeed. I’m very grateful.”
Protection Review co-editor Andy Couchman says: “These are all outstanding recipients of the Awards whose work is very well recognised throughout the protection industry. We are delighted to celebrate them in this way.”