Mutual providers of Child Trust Funds confirm commitment to support young people with a learning difficulty
20 October, 2021
The government has announced it will shortly be issuing a consultation designed to streamline the process by which children with learning difficulties can access their Child Trust Fund (CTF) when it matures. Read more
One year on: more than £600 million of Child Trust Funds remain unclaimed
1 September, 2021
It’s been a year (1 September 2020) since the first Child Trust Funds matured, but Britain’s youngsters are sitting on a goldmine of unclaimed cash. Read more
AFM confirmed as a Supporting Institution of the UN Environment Programme’s Principles for Sustainable Insurance
8 July, 2021
Later this year, COP26 in Glasgow will be a vital opportunity to re-focus attention on climate change. It feels in the UK like we no longer need the prompt, though the Government needs to command astonishing changes to the economy to achieve our goals. Insurance is- and will continue to- play a vital part in that change. Read more
Analysis of the strategic landscape for mutual insurers and friendly societies
AFM is delighted to be working in partnership with Whitecap Consulting and key industry partners to conduct an analysis of the strategic landscape for financial mutual organisations in the UK, which will culminate in a report later this year, with the findings to be presented at the AFM annual conference in October. Read more
AFM Comments on the report of the APPG for Mutuals’ on its Inquiry into the proposed sale of LV=
8 April, 2021
As a trade body supporting the mutual sector, the Association of Financial Mutuals is very grateful for the attention paid by the All-Party Parliamentary Group for Mutuals to the planned demutualisation of LV=. The decision to demutualise is a one-time, irreversible one, and cannot be taken lightly. The management of LV= has decided the business will be in a better position competitively under the protection of a private equity owner, Bain Capital. However, it has yet to put the case to its members, who will ultimately decide on whether the deal goes ahead. Read more
AFM announces new partnership project with Whitecap Consulting
8 April, 2021
The Association of Financial Mutuals is undertaking a strategic review of the future of the sector, in association with Whitecap Consulting. We are inviting potential sponsors to contribute to this important new project. Read more
AFM’s CEO comments on the demise of a stalwart of member-ownership
25 March, 2021 – Read more
Mutuals paid out £36m in IP claims in 2020
17 March, 2021
Research from Association of Financial Mutuals (AFM) shows paid claims volume increased 38% compared to last year. Read more
What is financial mutual and why should you consider joining one?
In an article published in the i on 11 January 2021, AFM CEO provides expert advice on businesses owned by customers: Read more
Child Trust Funds: five tips on what to do with the money
1 September, 2020
Most of the around 55,000 young people turning 18 in September will enjoy an unexpected and worthwhile birthday present: the Child Trust Fund (CTF). This scheme was launched by the government in 2005 and the first funds will be available to spend or re-invest this year.
The average CTF will be worth over £1,000, but many accounts will hold significantly more than that. And while the temptation might be to spend the money on a car, a holiday or to pay off bills, recent research from OneFamily, the largest provider of CTFs, shows that most young adults are inclined to invest the money to build up a future nest egg.
Young people are also likely to look for help on what to do with the money from their parents, grandparents or guardian, so here are five tips on guiding them to make the right decision.
What are healthcare mutuals doing to create new value?
17 August, 2020
Insurers and cash plan providers are innovating in response to the pandemic, says AFM’s Martin Shaw in an article published in COVER Magazine
The latest newsletter from Association of Financial Mutuals: Mutually Yours, August 2020