Cirencester Friendly achieved 98% of its target for introducing new members and an increase in annual premium income resulting in maintained or increased bonuses paid to its members, according to its 124th Annual Report and Accounts for 2013.
The total value of the Society's assets have increased by just over 9% to £68.5m, as the Society announced it will introduce a new individual income protection contract called 'My Earnings Insurance' to support continued growth during 2014.
Annual Premium Income went from £13.79M (in 2012) to £14.24M.
Cirencester Friendly said 94% of claims were paid out with a total value of sick pay benefit distributed of £3.3M in 2013.
John Bridge, director of sales & marketing for Cirencester Friendly, said: "Thanks to the hard work of our Management Team and staff, the Society gained the support of an additional 1049 Financial Advisers during the year allowing us to deliver a healthy surplus as well as an increase in bonuses to our Members."
13 September 2021
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2 min read
