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Wesleyan to pay £9m in loyalty bonuses

Wesleyan Assurance Society is to pay £9.1m in loyalty bonuses to policyholders this year.

The bonuses, part of the company&#39s mutual rewards scheme, add an extra 25 per cent to the normal annual bonus and will typically be £25 to £250 although some will top £2,500.

Wesleyan says the scheme demonstrates its commitment to mutuality.

Another element of the scheme is the guarantee on the company&#39s low-cost endowment policy which states that those policies maturing before January 1, 2007 will repay at least the amount of the original loan.

In the four years it has been running the scheme, Wesleyan has paid out £44.5m in bonuses.

Customers will be sent details of their windfalls in their annual Wesleyan statement mailing.

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