Cirencester Friendly pays out 94% of claims

Cirencester Friendly pays out 94% of claims

Annual premium income at Cirencester Friendly was up close to 5 per cent to £14.9m in 2014, according to results published today (5 May) which also revealed the mutual paid out on 94 per cent of protection claims last year.

The society today (5 May) reported that investment income is up more than 10 per cent from £1.6m in 2013 to £1.7m in 2014. A total of £2m in bonuses was awarded to members and 94 per cent of claims were paid in 2014.

Last yearo marked the successful launch of the society’s first ever pure income protection contract, My Earnings Insurance.

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The total value of the society’s assets has increased by 8.8 per cent from £68.5m in 2013 to £74.5m in 2014.

Paul Hudson, chief executive of Cirencester Friendly, said: “It is satisfying to be able to report that Cirencester Friendly has once again seen strong annual growth.

“2015 marks the 125th anniversary of the founding of the Society and we look forward to continuing to deliver on our promise to help members financially when they need us most, and to providing the highest standards of service to our members and the advisers who recommend the society to their clients.”