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August 2010

Wesleyan wins “life insurer of the year” award

Wesleyan Assurance Society was named Life Insurer of the Year for the second time in three years, at the prestigious British Insurance Awards 2010 on Wednesday 7th July.

Craig Errington, Chief Executive of Wesleyan, who accepted the award in front of industry peers at the Royal Albert Hall said: “It’s a fantastic achievement to win this award for a second time; I have to pay tribute to all my staff who work so hard to contribute to the success of the business and the delivery of a first-class service to our customers.”

The Society beat off competition from NFU Mutual and Zurich, continuing its track record of outperforming bigger rivals. It recently announced a strong set of results for the full year 2009, including a market-leading 20.1% gross investment return on its main with profits fund and an 11% increase in new business sales.

Mr Errington added: “As a mutual organisation with no shareholders to consider, we can put our customers at the heart of everything we do and focus on their specific needs. In this way we aim to earn their trust and create a life-long relationship.

“2009 was a difficult year for the industry and we made a brave decision to continue to grow the business in line with our long-term strategy. However we did this in a measured way with a close eye on operational costs which was key to our success.”

Martin Shaw, Chief Executive of the Association of Financial Mutuals and a member of the judging panel said: “Wesleyan is a worthy winner of this award, having proved its strength through the recent financial crisis while continuing to innovate and provide value to its customers.”

Fresh from celebrating their success at the British Insurance Awards, Wesleyan are hoping to add two more trophies to their collection this Autumn. Chief Executive Craig Errington has been named as a finalist in the Institute of Directors (IoD) Director of the Year Awards. Craig, who was awarded Chartered Director status by the IoD last year, is shortlisted in the category for Director of the Year, Large Company.

In addition Wesleyan has been nominated as a finalist for Mid Cap Business of the Year at the prestigious National Business Awards, having taken the regional title in 2009. Results of both awards will be announced over the next few months and we wish all at Wesleyan the best of luck.

Wesleyan offers specialist financial advice to hospital doctors, GPs, dentists, lawyers and teachers through its principal distribution brands Wesleyan Medical Sickness, Wesleyan for Lawyers and Wesleyan for Teachers.

Background notes:

  • The Wesleyan Group has in excess of £4 billion of funds under management as at 31 December 2009.
  • Wesleyan has received a ten-out-of ten rating for overall financial strength for five consecutive years in the respected Cazalet Consulting with profits rating report - the only life office to have achieved this.
  • In its 2009/10 customer impact survey, the Association of British Insurers (ABI) reported that Wesleyan’s customer service standards are significantly above the industry benchmark including for overall quality of product and service and overall customer service.
  • Wesleyan was named Business of the Year at the National Business Awards 2009 Regional Finals and won Best Use of IT in Insurance at the Financial Sector Technology Awards 2009.
  • Wesleyan Assurance Society Head Office: PO Box 3420, Colmore Circus Birmingham B4 6AR. Website: www.wesleyan.co.uk


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