We're mutual, we only work for you
Mutual organisations are not owned by external shareholders (like PLCs are) but work for, and only answer to, customers like you.
UK financial organisations are all authorised by the Financial Services Authority and are either 'mutuals' or public limited companies (PLCs).
The Association of Mutual Insurers (AMI) represents all mutual insurance companies. It's aim is to promote mutuals and why they can be a better choice for many people. LV= is a founding member of AMI.
Read more below about how we only work for you (links open in a new window).
Experience and scale
Mutuals typically have over 100 years of experience and heritage in financial services (and some have been around a lot longer). Collectively they manage over £77bn in assets and have more than 19 million customers.
Trust
The managers of mutuals are only responsible to their members and customers, and not to shareholders. Research also shows that on average mutual customers are more likely to recommend a mutual organisation than a PLC.
Greater potential value
Research by AMI shows that in 2007 PLC insurers paid out on average 3.1p to shareholders for every £1 invested by their customers. With no shareholders to pay, mutual insurers can ensure that their profits are only distributed to their members and customers, or are reinvested to give better returns, better value and higher levels of service.
Better service
With higher levels of customer satisfaction according to independent surveys, the employees of mutual insurers seem to want to try that bit harder when the members or customers are actually the owners of the organisation they work for.
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