Yellow Brick Road says personal life insurance sales grew 135% to $1.72 million in the year to June 30.

The company’s new personal life product – which is underwritten by Zurich – attracted more than $200,000 of new business in the five months after its launch.

Yellow Brick Road uses its branch network to sell life insurance, offering basic cover with its mortgage broking business.

Only 49 of its 168 outlets nationwide sold life in the year to June 30, but all are expected to be active in the current financial year.

Yellow Brick Road’s total revenue was $24.88 million, with professional services – including life and general insurance – accounting for 24%. This compares with $14.78 million in 2011/12, with professional services contributing 41%.

The company recorded a $6.6 million loss for the year. CEO Matt Lawler says this is in line with expectations, because marketing expenditure doubled.

He says the current year is critical in building brand awareness, to win customers and expand the distribution base.