Scottish Friendly: Best Mutual Insurer UK 2020

Glasgow-based mutual Scottish Friendly has a 150-year legacy of helping families hedge against the unexpected and invest for a financially secure future. The firm offers financial products including life insurance, bonds and investment or Junior ISAs (individual savings accounts). Scottish Friendly has grown into one of the UK’s largest mutuals, with a recent landmark acquisition that doubled its assets under management — now at over £5bn — and pushed membership to some 700,000 policyholders. The deal, which was two years in the making, supports the firm’s three-pronged strategy of organic growth, outsourcing partnerships, and consolidation. As a mutual, Scottish Friendly is beholden not to shareholders but to its policyholders, and company profits are reinvested for members’ benefit. The firm advocates for financial inclusivity and offers to help clients “navigate the monetary maze” of saving and investing. It conducts focus groups and applies feedback to align products and services to customer demand. Scottish Friendly has incorporated client suggestions and rolled out a new app with improved functionality, flexibility and speed. The firm’s continuous improvement has garnered a fresh following of younger, more tech-savvy membership — as well as recognition. In 2019, the small firm was named Best Mutual Insurer and Best UK Junior ISA Provider in the CFI.co and Investment Life and Pensions Moneyfacts awards programmes. Despite a risk-averse environment, Scottish Friendly anticipates profits and growth in line with previous years. The CFI.co judges declare Scottish Friendly the repeat winner of the Best Mutual Insurer UK award — this time for 2020.

marten

Recent Posts

Nordea Asset Management: Best ESG Team Europe 2024

Nordea Asset Management (NAM) has championed responsible investment for over three decades, beginning in 1988…

4 days ago

SegurCaixa Adeslas: Best Insurer Spain 2024

SegurCaixa Adeslas, a pre-eminent Spanish health insurance company, has demonstrated a formidable and truly impressive…

1 month ago

Banco BPI: Excellence in Sustainable Banking Initiative Portugal 2024

Banco BPI's dedication to sustainability is a beacon of proactive environmental and social responsibility. Beyond…

1 month ago

BSE Ltd: Champions of Capital Market Innovation and Efficiency Asia 2024

BSE Ltd, formerly known as the Bombay Stock Exchange, is a crucial player in India’s…

2 months ago

TMT Investments Plc: Visionary Leaders in Global Tech Venture Capital Europe 2024

TMT Investments Plc, publicly quoted on the AIM market of the London Stock Exchange since…

2 months ago

BNP Paribas Fortis: Outstanding Contribution to SME Financing Benelux 2024

BNP Paribas Fortis is a key player in the Belgian banking sector with a rich…

2 months ago