Cirencester Friendly records increased membership, premium incomes in 2020

Cirencester Friendly recorded growth in memberships and premium incomes throughout 2020 despite "difficult trading conditions." The insurer saw memberships rise to over 43,000 and premium income grow from £19.9m in 2019 to £21.4m in 2020, an increase of 7.5%, during 2020. Over 45% of premium income was returned to Members through claims, bonuses, interest, and other benefits, while total funds reached £159.9m, a 4% increase on 2019. In March, the friendly society detailed that it had paid 94% of claims in 2020, totalling £7.8 million in pay outs to its members. Throughout the ye...