AFM appoints new Chairman and Vice-Chair

Association of Financial Mutuals appoints new Chairman and vice-Chairman

April 2016

The Association of Financial Mutuals (AFM) – the trade body that represents mutual insurers, friendly societies and other financial mutuals in the UK – have appointed a new Chairman and Vice-Chairman.

At its March 2016 meeting the Board approved the appointment of Andy Chapman, Chief Executive of The Exeter as Chairman, and of Jane Nelson, Chief Executive of The Oddfellows as Vice-Chairman.

Both have served on the AFM Board for a number of years, and were appointed following approval by members of a new strategy in January, that will see AFM’s activities focus on the interests of smaller mutuals and friendly societies.

Andy Chapman has been Chief Executive of The Exeter since March 2008, when the organisation as it is today was created, merging together two friendly societies with a rich heritage in income protection and private medical insurance.  The insurer has been a Cover Excellence awards winner in each of the last five years.

Andy Chapman, Chairman of the Association of Financial Mutuals commented: “I’m delighted to become the latest Chairman of AFM.  The mutual insurance sector has grown 40% since 2007, in contrast to the UK insurance sector as a whole which has shrunk by 20% since the start of the financial crisis.  With 30 million policyholders, the sector is highly trusted by its customers and offers a real alternative to PLC insurers.  Small mutuals in particular have demonstrated a real flair for developing new products and innovative ways of working, and it will be a great pleasure for me to spread the word about the importance of a thriving mutual sector.”

Jane Nelson joined The Oddfellows in 1995 as Financial Controller, and then Finance Director, and became its Chief Executive in 2012.  The Society is over 200 years old, and through that time has combined the provision of savings and insurance plans with a wide range of social activities and the provision of care support across the UK.

Commenting on her appointment, Jane said: "I am very pleased to have been appointed Vice-chair of AFM.  The trade body combines its role of championing mutuality with a commitment to helping its members work in the best interests of their customers.  This is crucial to the success of the mutual sector in the future.”

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