Cirencester Friendly has released its 127th Annual Report and Accounts, which reveals 'accelerated' growth during 2016, with income, assets and Membership all increasing.
Premium income rose from £15.6m in 2015 to £16.3m in 2016, an increase of 4.4%, whilst investment income was up 11% from £1.8m to £2.0m. Total income for the year was £21.7m, representing an impressive 23.3% increase on 2015's figure of £17.6m. Being a mutual organisation, £4.7m in bonuses were awarded to the Members from trading surpluses, which is an increase from the £4.3m paid in 2015. In excess of 94% of claims were paid in 2016, the mutual said. During the year, the Society placed on risk a total of 3,880 new contracts - an increase of 5.5% in comparison with 2015, with M...
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