The information provided in this article was accurate at the time of publishing and should be read in the context of the date it was published. Views in this article are those of the author alone and do not necessarily represent the view of Scottish Friendly.
After extensive discussions, presentations, approval processes and several months of planning and detailed project management, we reached another milestone in our history today when Marine & General Mutual (M&GM), the oldest registered company still actively trading in the UK, became part of Scottish Friendly.
On behalf of all at Scottish Friendly, I’d like to extend a warm welcome to all M&GM policyholders.
The transfer of the business of M&GM was unanimously approved on behalf of Scottish Friendly members at the end of April and was also backed by an overwhelming 96% in the M&GM members’ vote. Final approval was received from the High Court in London on 22 May.
The addition of M&GM business to Scottish Friendly is a tangible outcome of our strategy to diversify and grow the business for the benefit of all our policyholders. The takeover of M&GM has doubled Scottish Friendly’s assets under management to over £2 billion and gives us additional economies of scale that can drive further efficiencies and increased value to all of our policyholders, including those who have transferred from M&GM.
M&GM policyholders will shortly receive a personal welcome letter from Scottish Friendly.
No advice has been provided by Scottish Friendly. If you are in any doubt as to whether a savings or investment plan is suitable for you, you should contact a financial adviser for advice. If you do not have a financial adviser, you can get details of local financial advisers by visiting www.unbiased.co.uk. Advisers may charge for providing such advice and should confirm any cost beforehand.