A bit about us and what we do
We’re a mutual protection, savings and retirement provider.
Our 1,700 people help our customers protect their income while they are working and maximise it when they stop. By doing this we enable people to live confident lives.
We believe that everyone should have access to independent, regulated financial advice. It should not be seen as a luxury for the few who can afford it or who are experienced in using it. Why? Because it provides financial and emotional benefits. Good advice ensures better financial outcomes and frees people from the worry of making complex decisions that could have long-term implications.
We work with a wide range of financial advisers and it is through them that the majority of customers will buy our products and services.
Our 1.28 million customers, 1.25 million of which are members, hold a variety of products with us including life insurance, income protection, investments and retirement income solutions such as equity release, fixed term annuities and drawdown products.
Being a mutual
Mutuals are owned by members rather than shareholders and the concept of mutuality goes back to the early days of insurance.
Out of the appalling squalor and degradation of 19th century Britain rose the first Burial and Friendly Societies. Their purpose was to give even the poorest members of society the means of providing for themselves, and their children a decent burial through the payment of a half-penny, a penny or three pence a week.
While many companies, with similar backgrounds, have fallen by the wayside our strength and determination to do the right thing has stood the test of time. Today we are one of the best known and most trusted insurers in the UK and are proud to remain a mutual.
Much of our success can be attributed to our mutual status. We do things differently from other financial services companies, and in many ways better. Our member ownership model means we don’t have to focus on generating profits for shareholders, instead we can take a longer-term view and focus on doing what is right for our customers and members.
The values of a mutual, of shared ownership and community over and above pure profit are just as relevant now as they have ever been.