Latest Press Releases and Comments

Here we cover all the very latest news. If you have a specific enquiry or something you’d like to find out about, please get in touch. Contact Martin Shaw at AFM via email or call 0788 754 7195.

Mutuals pay 94% of income protection claims in 2017

New research from AFM reveals that its income protection providers paid out 93.7% of claims in 2017.

See the full release here.

13 April 2018

Mutually Yours, April 2018

Our latest newsletter, with lots of topical news from the sector, can be accessed by clicking on this link.

13 April 2018

AFM letter to the Economic Secretary

In March we wrote to the Economic Secretary, putting forward a case for the government to consider exempting holders of mutual health cash plans from paying Insurance Premium Tax.  

In the UK, we benefit from one of the best healthcare systems in the world. But trips to hospital, or paying for routine healthcare, such as GP prescriptions, dental check-ups or eye tests, means costs can mount up. And individuals may also need to pay for therapeutic treatments, such as a chiropractor or physiotherapist. The low premiums and accessible nature of the health cash plan makes them attractive to people for whom these costs may be difficult to budget.

You can read the letter here.

AFM submission to the Work and Pensions Committee's rolling inquiry into Universal Credit

With the support of Sami Consulting, we have provided a submission to the Work and Pensions Committee, highlighting the inequity for income protection providers, of the way payments from Universal Credit are deducted £ for £ in light of any income protection claim.

You can read the submission here.

09 February 2018

Mutually Yours, February 2018

The February 2018 edition of our newsletter contains articles on:

  • Leading mutuals
  • EU rules!
  • Supporting the needs of elderly and vulnerable customers
  • Member news
  • Events and Training

To read in full, click here

08 February 2018

AFM launches the first three is a series of new infographics on the needs of elderly and vulnerable customers

To support a series of workshops provided for AFM members in recent months, and in conjunction with the branding agency and AFM Associate member Let's Talk Ageing, AFM has sponsored the development of a series of new infographics.  These can be downloaded and pinned up in the office to help members identify the particular needs of more vulnerable and elderly customers, and how they can best support them.

The first three infographics cover:

In addition, at the request of members we have produced a draft Vulnerability Policy, that members can adapt to summarise the way they work with vulnerable customers.

06 December 2017

Mutually Yours, December 2017

This edition features:

  • 2017 in perspective 
  • Changing Corporate Governance Expectations 
  • Member Updates 
  • Newest AFM Associate Member 
  • Taking Control of Your Data 
  • Events and Training

Click here to read Mutually Yours

06 November 2017

AFM members contribute over £400 million a year to savings in the NHS and welfare state, as well as employers and individuals

New research commissioned by AFM, and delivered by OAC, assesses AFM members save society over £400 million a year.  Insurance Premium Tax threatens the savings cash plans provide to the NHS, and the report explores how an exemption could increase savings to NHS by more than the reduction in tax collected.

For more details, click here

25 October 2017

New report by ICMIF and AFM charts recent success of mutual insurers

During the recent AFM Conference, we launched a new report, produced in association with sister trade body ICMIF, which shows that mutuals have grown premium income by 66% since 2007, whilst the UK insurance sector as a whole has seen premiums shrink.

For the full report, click here


25 October 2017

Mutually Yours, October 2017

The latest newsletter of the Association of Financial Mutuals includes:

  • a full summary of AFM's 2017 conference; 
  • AFM Board directors 2017-18; member news; 
  • news of three new Associates; and 
  • details of forthcoming events.

Click here to read Mutually Yours