FINANCIAL services group Scottish Friendly will today reveal that its funds under management grew by eight per cent last year to £1.08 billion, writes Ian McConnell
The Glasgow-based institution, which describes itself as Scotland's largest mutual, will also tell its annual meeting in Glasgow today that it achieved a five per cent rise in sales, to £21.6 million, in 2014. These sales figures are based on the standard industry measure of regular premiums plus one-tenth of single premiums.
Scottish Friendly said that strong growth from partnerships, including an alliance with Sun Life Direct announced last year, had helped to increase sales and membership numbers.
Scottish Friendly, citing a focus on stocks and shares ISAs and Junior ISAs aimed at "mid-income families", signalled its belief that it was in a strong position to make further progress this year.
In February, the Glasgow-based institution announced its proposed takeover of Marine and General Mutual in a move it noted would double assets to more than £2bn. Subject to final approval, the transfer is due to complete on May 31.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereComments are closed on this article