NFU Mutual
From Wikipedia, the free encyclopedia
| The National Farmers Union Mutual Insurance Society Limited | |
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| Type | Mutual |
| Founded | 1910 |
| Headquarters | Tiddington, Stratford-upon-Avon, UK |
| Key people | Ian Geden (Chief Executive) |
| Industry | Financial Services |
| Products | Life, General, Pensions and Investments |
| Employees | 3000 |
| Website | http://www.nfumutual.co.uk |
The National Farmers Union Mutual Insurance Society Limited, better known as NFU Mutual, is an insurance company in the UK. It is a mutual company, owned by its policyholders rather than by shareholders, and deals in both life and general insurance. It is based in Stratford-upon-Avon, Warwickshire and is closely associated with the National Farmers Union (NFU).
Within the UK, the company's business includes the sale of pensions, annuities, savings and investments along with property, liability and motor insurance. They are particularly well-known in rural and agricultural areas and have won several insurance awards for their products. It has a Standard & Poor's credit rating of AA (February 2005).
While making use of a telephone sales call centre, unlike most other UK insurers, NFU Mutual still relies on a direct sales force based in 300 offices around the UK. This local sales force plays a large part in publicity campaigns and great focus is given to the fact that they provide a face to face local service.
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[edit] Management
There are currently 13 people on the board of directors. Key individuals are:
| Chief Executive | Ian Geden |
| Chairman of Board of Directors | Sir Don Curry |
| Finance Director | Kim Arif |
| Corporate Services Director | William Schouten |
[edit] History
NFU Mutual was formed in 1910 by 7 local farmers, with working capital of just £190, in order to provide a benefit to farmers in joining the NFU, which had been formed 2 years earlier. The availability of cheap insurance cover for NFU members was an important factor in the early growth of both the NFU and NFU Mutual.
Although originally providing insurance for members of the National Farmers Union only over time it has opened up to a wider market and moved away from its agricultural base.
Since its creation NFU Mutual has written insurance policies for a number of famous names, including David Lloyd George, Aneurin Bevan and Anthony Eden.
While NFU Mutual today operates only in the UK, Channel Islands and Isle of Man however from 1948 until 1966 the company operated in Rhodesia (now Zambia and Zimbabwe), Kenya and Tanganyika. It was responsible in 1954 for building the Farmer's Mutual House, then the tallest skyscraper in Harare.
[edit] Awards
Some of the awards and recognitions won by NFU Mutual include:
British Insurance Awards
July 2004 - Finalist - General insurer of the year
July 2004 - Finalist - Life insurer of the year
July 2003 - Winner - General insurer of the year
July 2002 - Winner - Customer care award
July 2000 - Finalist - Claims initiative of the year
July 1998 - Winner - Training initiative of the year
July 1997 - Winner - Risk management and technology initiative of the year
July 1997 - Winner - Life insurer of the year
Standard and Poor's Fund Awards
2005 - 1st - UK Individual Pension Funds over 5 years (Smaller groups category)
2005 - 2nd - UK Individual Pension Funds over 10 years (Smaller groups category)
2004 - 1st - UK Insurance Funds over 5 years (Smaller groups category)
2004 - 1st - UK Insurance Funds over 10 years (Smaller groups category)
2004 - 1st - NFU Mutual Property Fund over 1 year (Pension Property Fund)
2004 - 1st - UK Individual Pension Funds over 5 years (Smaller groups category)
2004 - 2nd - UK Individual Pension Funds over 1 year (Smaller groups category)
2004 - 2nd - UK Individual Pension Funds over 10 years (Smaller groups category)
[edit] External links
- www.nfumutual.co.uk
- www.nfumutual-agencies.co.uk
- The Stratford Guide NFU Mutual's Head office is on Tiddington Road in Stratford Upon Avon. For more information on Stratford-Upon-Avon visit The Stratford Guide.
[edit] References
- Victor Head; A Triumph of Hope, The Story of the National Farmers Union Mutual Insurance Society Limited; The National Farmers Union; 1985;
