Yellow Brick Road’s life insurance sales soared 84% to $6.9 million in the six months to December 31.

The company attributes the growth to its diversified distribution model comprising branches, brokers and advisers.

It says the acquisition of Vow Financial Holdings and Resi Mortgage Corporation has expanded the distribution network and given YBR additional scale.

The company had 696 branches at the end of December, compared with 197 a year earlier.

Branches’ revenue was $52.8 million in the half, compared with $11.4 million in the corresponding period of 2013. Their gross profit was up 180% to $8.7 million.

Executive Chairman Mark Bouris says YBR wants more sales of wealth products – including life insurance – to its mortgage customer base in the next six months.

However, he says intermediaries in the mortgage market are more focused on the booming property market, and encouraging them to recommend wealth products “requires constant reinforcement”.