Mutual insurer trade bodies to merge into new group
Share
The Association of Friendly Societies has voted in favour of a resolution to merge with the Association of Mutual Insurers to create a new trade body, representing the UK’s mutual insurance sector.
Speaking at the annual AFS conference in Peebles, Paul Hudson, the newly appointed AFS president said a single trade body would be more effective.
He said: “This is an important move which will lead to the formation of a single trade association for mutual insurers.
“A single association will lead to more effective engagement with Government, the regulators and other policymakers.
“It will also mean that, as a sector, we are better able to communicate the benefits of the mutual model to existing and potential policyholders.”
Hudson said a significant number of AFS members are already members of AMI.
The resolution to merge with AFS will now be put to a meeting of the Association of Mutual Insurers.
Subject to approval by AMI, it is expected that the new combined mutual trade association, which is yet to be named, will be fully operational from early 2010.
If you enjoyed this article, sign up here to receive daily email updates from Money Marketing and Follow @_moneymarketing
