9 March 2020
Foresters Friendly Society sees positive 2019 with award wins and record premium income levels
Foresters Friendly Society saw a strong year in 2019 for their individual business.
Premium income increased by 35% and policy volumes increased by 18% (both from 2018), with the mutual society’s Stocks and Shares ISA and Investment Bond leading the way. Both plans invest in Foresters’ top performing With-Profits fund, which has delivered consistently competitive returns for clients.
Foresters’ With-Profits Fund was listed the top performing fund in the small and medium categories, with a 5 year return of 5.39% according to a survey from Barnett Waddingham. The survey found the average annualised fund performance over a 5 year period was only 4.48%.
The results cap of a year which saw a number of positive achievements for Foresters Friendly Society. In April 2019 the Society partnered with AXA Investment Managers, which manages €730 billion (£650 billion) globally. The partnership gave the Society a unique competitive advantage over similar providers by granting access to a variety of funds and asset classes improving the marketability of products to new and existing members.
Foresters Friendly Society was also named Best Small Insurer at the Insurance Investment Exchange Awards 2019. Foresters were recognised for their work in delivering real value through their investment portfolios and minimising volatility in an increasingly complex environment.
Rachel Hardy, Chief Executive of Foresters Friendly Society commented “It’s safe to say we had a successful year in 2019 at Foresters Friendly Society. We exist to not only provide the benefits of being a member of our Society, such as access to discretionary grants and a sense of community, but to provide highly performing protection and savings products. The individual business results and award win speak to how hard we work to do this”.