Cirencester sees premium income and membership increase

clock • 1 min read

Cirencester friendly has increased both premium income and membership in the last year.

The friendly society grew net earned premiums by 6.6% to £12.1m in 2010 with membership growing by 5%.

It also reported significant increases in bonuses paid to members which it said was down to prudent investment management and the growth of premiums and clients.

Paul Hudson, chief executive of Cirencester friendly, was pleased with the results but said the holloway income protection provider would continue to take a careful approach over the next year.

"It is gratifying to report a successful 2010 for both the Society and its members," he said.

"Last year saw continued growth in premium income and a strong performance in our investment portfolio, as well as an increase in membership. In what has been, and continues to be, a tough global economic situation it is very encouraging to see such positive performance.

"During a difficult time for all in the financial services industry, our prudent management and continued policy of avoiding unnecessary risk has again been justified.

"Looking forward we will remain cautious in 2011 and endeavour to maintain the competitiveness of our product," he added.

More on Income Protection

Why we still need to talk IP

Why we still need to talk IP

"Increasing sales starts with education"

Matthew Chapman
clock 14 March 2024 • 3 min read
Cirencester Friendly pays out £9.3 million in 2023

Cirencester Friendly pays out £9.3 million in 2023

Nearly half of claims were from Millennials

Jaskeet Briah
clock 14 March 2024 • 2 min read
British Friendly pays out £5m in IP claims

British Friendly pays out £5m in IP claims

Provider pays out 89% of new IP claims in 2023

Cameron Roberts
clock 11 March 2024 • 1 min read

Highlights

COVER Survey: Advisers damning of protection insurer service levels

COVER Survey: Advisers damning of protection insurer service levels

"It takes longer than ever to get underwriting terms"

John Brazier
clock 12 October 2023 • 5 min read
Online reviews trump price for young people selecting life and health cover

Online reviews trump price for young people selecting life and health cover

According to latest ReMark report

John Brazier
clock 11 October 2023 • 2 min read
ABI members with staff neurodiversity policy nearly doubles

ABI members with staff neurodiversity policy nearly doubles

Women within executive teams have grown to 32%

Jaskeet Briah
clock 10 October 2023 • 3 min read