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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.
Scottish Friendly as a group consists 3 main subsidiaries. Each offers a distinct range of products and services. These include:
Marketing and maintaining a range of life, savings and investment products. Find out more about our current range of tax-exempt savings plans.
Provides back office support to other financial service organisations, as well as supplying bespoke insurance products distributed through other providers.
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.
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.
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
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
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 is not responsible for the accuracy of the information displayed on externally linked third party websites. The Scottish Friendly Group of Companies consists of the following companies: Scottish Friendly Assurance Society Limited – Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Member of AFM, Member of ABI: Life, Savings and Investments. Scottish Friendly Asset Managers Limited – Authorised and regulated by the Financial Conduct Authority. Member of The Investment Association. Registered in Scotland No 187215: OEIC Managers, ISA Managers. Scottish Friendly Insurance Services Limited – Authorised and regulated by the Financial Conduct Authority. Registered in Scotland No 113007. SFIS (Nominees) Limited - Registered in Scotland No 397351. Head office: Scottish Friendly House, 16 Blythswood Square, Glasgow G2 4HJ.