Mutual insurer, National Friendly, has secured €15 million (£13m) in tier 2 capital financing, sourced from a syndicate of European insurers and pension schemes.
The capital, according to National Friendly, will go towards product innovation, expanding distribution and expanding access to protection. The structure of the financing has a 10-year maturity date and helps to strengthen National Friendly's balance sheet, according to the provider. Graham Singleton, CEO, National Friendly, said: "This is a transformational moment for National Friendly. Securing €15 million in tier 2 capital gives us the financial flexibility to invest boldly in our strategic priorities - building innovative, affordable insurance solutions and extending our reach to ...
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