Learn more about Scottish Friendly

Who is Scottish Friendly?

Established in 1862 as the City of Glasgow Friendly Society, the name Scottish Friendly Assurance was adopted in 1992. This followed the transfer of business from a Scottish-based mutual.

Today Scottish Friendly operates as a financial services group offering a wide range of financial products and services. We are based in Glasgow and our staff are dedicated to providing the best in customer service.

We've more than doubled our funds under management, from £1.1 billion in 2014 to more than £2.6 billion in 2015. A rise of 147%.

Read more in our latest financial results report.

In 2006 Scottish Friendly launched a wrap administration business through its Scottish Friendly Insurance Services subsidiary. The success of this business was recognised when the global financial services organisation, Citi, bought the business in December 2011 for a premium value that ultimately created benefits for Scottish Friendly members. Another significant milestone in Scottish Friendly's history was reached on 1st June 2015 when we took over the business of Marine and General Mutual.

We’re proud to be one of the largest mutual life offices in the UK - and one that's been around for over 150 years. We're dedicated to the efficient provision of financial products and services. We’re looking after assets worth more than £2.6 billion and have over 490,000 members (as at 31/12/15). Our past performance is not a guide to the future.

What's a mutual?

Mutuals are owned and run for the benefit of their members. With no shareholders to pay, profits are normally reinvested for the benefit of members.

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What services does Scottish Friendly offer?

Scottish Friendly as a group consists 3 main subsidiaries. Each offers a distinct range of products and services. These include:

Scottish Friendly Assurance Society Limited

Marketing and maintaining a range of life, savings and investment products. Find out more about our current range of tax-exempt savings plans.

Scottish Friendly Asset Managers Limited

Offers a range of investment products including ISAs, Junior ISA and OEICs, providing access to expert fund managers. Find out more about our range of ISAs and Junior ISAs.

Scottish Friendly Insurance Services Limited

Provides back office support to other financial service organisations, as well as supplying bespoke insurance products distributed through other providers.


Who regulates Scottish Friendly?

Scottish Friendly Assurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. We're a member of The Association of Financial Mutuals and a member of The Association of British Insurers.

Scottish Friendly Asset Managers Limited is authorised and regulated by the Financial Conduct Authority. We're registered in Scotland, company number 187215, and a member of The Investment Association.

Scottish Friendly Insurance Services Limited is authorised and regulated by the Financial Conduct Authority. Registered in Scotland, company number 113007.


Financial results

View and download our latest financial results and performance.

View results

Key team members

Find out more about key members of the Scottish Friendly management team.

View our team

Milestones and awards

As one of the largest mutual societies in the UK, we're proud of our achievements over the years. Below is a selection of milestone events and awards.

  • 2010 onwards

    2015 - We completed the transfer of business from Marine & General Mutual. Assets under management more than double to over £2.5 billion

    2013 - Our new Junior ISA product launched

    2013 - Scottish Friendly won the Financial Services Company of the Year Award at the Scottish Business Awards

    2012 - Our My Plans online tool launched along with our new range of ISA products

    2012 - We celebrated our 150 year anniversary

    2012 - Transfer of business from Royal Standard Friendly Society was completed

    2011 - We launched our new website and a range of Flexible Plans

    2010 - Scottish Friendly wins the Arts & Business Scotland Award 'Young People Award' for our sponsorship of 'Meet Our Authors'

    2010 - The Scottish Book Trust 'Meet Our Authors' programme launched with a live broadcast on World Book Day

  • 2005 to 2009

    2009 - The Scottish Friendly Children's Book tour expands to England

    2008 - Our Chief Executive, Fiona McBain wins Business Leader Of The Year at the Glasgow Business Awards

    2008 - Scottish Friendly wins Best Practice in Insurance Administration award from Cedent

    2008 - Transfer of business was completed from London Aberdeen & Northern Mutual Assurance

    2007 – Scottish Friendly begins the first of a highly successful string of business partnerships that will include Royal London, Phoenix, Smart Insurance and Golden Charter

    2007 - We won the Orange Best Use of Technology in Business Award at the National Business Awards for Scotland

    2007 - Scottish Friendly takes over Scottish Legal Life, our biggest takeover to date

    2007 - Pioneer Friendly Society endowment business was transferred to Scottish Friendly

    2006 - Preston Operative business transfers to Scottish Friendly

    2006 – Scottish Friendly begins wrap administration service to Nucleus Financial

    2005 - Rational Shelley business transfers to Scottish Friendly

    2005 – Scottish Friendly introduces Child Trust Fund

  • Up to 2005

    2004 – Scottish Friendly, in line with industry trends, closes down its direct sales force. Major restructuring of business

    1999 – Scottish Friendly introduces stocks and shares Individual Savings Account (ISA)

    1998 – Scottish Friendly begins sponsorship of children’s literacy project in conjunction with Scottish Book Trust

    1997 – Scottish Friendly website launched

    1992 – Prior to commencing UK-wide marketing campaigns, City of Glasgow Friendly Society becomes Scottish Friendly Assurance, following takeover of business of a small friendly society

    1992- New Friendly Societies Act comes into force allowing incorporated friendly societies to broaden the range of investments they can market

    1987 – Introduction of the Financial Services Act – period of significant change for financial organisations

    1962 – Scottish Friendly begins to accept payments by cheque, paving the way for Direct Debit payments

    1962 - We celebrated our 100 year anniversary

    1948 – Introduction of National Health Service sees decline in business for many friendly societies

    1914 – Outbreak of First World War – City of Glasgow Friendly Society provides financial support to its members fighting in the fields

    1862 - City of Glasgow Friendly Society was founded by John Stewart

Scottish Friendly in the community

For almost 20 years we've been supporting the Scottish Book Trust to promote literacy across the UK. You can read more about the programme in our Community section.

Find out more