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Cirencester Friendly recorded continued growth in 2021

Cirencester Friendly have published their 2021 Annual Report and Accounts. Whilst last year continued to be a challenging year for many providers, due to the ongoing impact of the Covid-19 pandemic, the Society recorded continued growth with premium income, membership and funds under management all increasing.

  • Membership increased to over 44,400 Members
  • Total Society funds rose from £159.9m in 2020 to £165.4m in 2021, a 3% increase
  • Premium income rose from £21.4m in 2021 to £21.7m

Being a Member owned Mutual business, where Members are at the HEART of everything the Society does, Cirencester were pleased to return 51% of premium income back to Members through claims, bonuses, interest, and other benefits.

Cirencester revealed in their transparent figures that in 2021, 93.6% of clams were paid, amounting to £8m in benefit payments.

2021 also saw the launch of YourHalo, a health and wellbeing service, adding to the range of Member Services and Benefits available, providing further reassurance and support.

Paul Hudson, Chief Executive at Cirencester Friendly 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.”

Read the full Annual Report & Accounts here