Cirencester Friendly reports strong growth in 2017
- Total income up 5% from £21.7m in 2016 to £22.8m in 2017
- £6m in bonuses awarded to Members
- Total funds hit £138.7m
- Membership surpassed 37,350
Cirencester Friendly has released its 128th Annual Report and Accounts, which reveals robust growth during 2017, with income, assets and Membership all increasing.
Premium income rose from £16.3m in 2016 to £17.3m in 2017, an increase of 6.1%, whilst investment income was up 14% from £2.1m to £2.4m. Total income for the year was £22.8m, representing a 5% increase on 2016’s figure of £21.7m.
Being a mutual organisation, which is owned by and run for the benefit of its Members, £6m in bonuses were awarded to the Members from trading surpluses, which is an increase from £4.7m in 2016.
2017 saw 94.7% of claims accepted and a total of £4.7m paid in benefit, during a year which also saw improvements to Society’s income protection contract, Income Assured Plus which was relaunched as Income Assured Enhanced.
For further information on the Annual Report & Accounts speak to our Sales Team on 0800 587 5098 option 2 or email sales@cirencester-friendly.co.uk
