The Mutual enjoyed a growing customer base for the first six months of 2009, recording 18,000 new policies representing more than 16,500 new customers.
A range of positive results for the first six months of the year, included:
1. strong sales of over 50s life insurance (just short of sales achieved in the first half of 2008) despite an increasingly competitive marketplace and significant economic downturn
2. positive investment returns on unit-linked and child trust fund products
3.more than £24million paid out to customers in claims and maturities
4.tight control on costs has seen campaign expenditure reduce by 55% for the first six months
5.despite this, over £17m in life fund premiums have been received since the start of the year
Existing successful partnerships with Yorkshire Bank and Clydesdale Bank for marketing over 50s life insurance, have recently been extended with the launch of Vision, a tax exempt savings plan.
In partnership with Co-operative Funeralcare, engage Mutual now offers a Funeral Funding Option as a free addition on its over 50s life insurance. This allows payment directly from the policy’s proceeds towards funeral expenses, and makes it simpler for family members to carry out the policyholder’s personal wishes.
Following entry last year into the health market, engage Mutual has successfully established marketing partnerships with engage Super League clubs to introduce health cash plans to loyal fans. The plans are marketed as part of a healthy lifestyle campaign which is supported by top player ambassadors.
engage Mutual is committed to delivering tangible benefits of membership; to consistently delivering above and beyond the expectations of our customers and partners; and to doing more to support its local community.
Maintaining a 15 year relationship with Saint Michael’s Hospice, engage Mutual recently sponsored the Hospice’s annual flagship event, the engage Midnight Walk.
Chief Executive, Andrew Haigh, commented:
“We are pleased that the measures taken to respond to such difficult trading conditions experienced over the past year have delivered such a robust performance. As a mutual we exist for the benefit of our customers, so good news for us is good news for them.”
PLEASE NOTE, FIGURES QUOTED ARE NOT AUDITED
The information in this press release is intended solely for journalists and should not be relied upon by private investors or any other persons to make financial decisions.
For more information contact: