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Family Assurance announces restructuring

Brighton-based friendly society Family Assurance is restructuring into three divisions, which will together form the Family Assurance Group.

The reorganisation will include the launch of a new company called Family Enterprise, dedicated to exploring opportunities arising from the greater freedom friendly societies will have when the Financial Services and Markets Act 2000 comes into force.

Family Assurance Group chief executive John Reeve says: “The next decade will offer significant opportunities for friendly societies and the mutual proposition. The restructuring has put us in the best possible position to seize those opportunities and invigorate our business.”

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