Cirencester Friendly saw an increase in premium income, membership and funds under management, according to the society’s 2021 annual report and accounts.
The report reveals that over the year the mutual’s membership increased from 43,482 in 2020 to 44,451 in 2021, with premium income up from £21.36m to £21.7m.
Meanwhile, total funds rose from £159.9m to £165.4m over the same period.
The society added it was pleased to return 51% of premium income back to members through claims, bonuses, interest, and other benefits.
In March, the mutual revealed it paid more than £8m in benefit in 2021 and approved 92% of new claims – 1,221 out of 1,324 submitted.
Paul Hudson, chief executive at Cirencester Friendly, (pictured) said: “I continue to be immensely proud of the achievements of everyone at the society given the extraordinary challenges of 2021.
“Despite the disruption of the pandemic and volatile investment markets, we have continued to deliver on our strategic roadmap, increased the membership and maintained our strong customer service focus, while delivering a surplus to sustain our robust financial position.
“This solid foundation gives me considerable confidence that the society is well placed for further long-term success.”
