Stephen McGee aims to make Scottish Friendly the leading UK mutual insurer

  • Stephen McGee has taken over as chief executive of leading financial mutual Scottish Friendly following regulatory approval.

    McGee will replace acting CEO Martin Pringle, who has temporarily been in charge of the business since the passing of Jim Galbraith in April 2021. 

    Former chief financial officer at Aegon UK, McGee joined Scottish Friendly as a non-executive director in September 2021.

    He has held senior roles at several major financial services providers, including Chief Actuary at Lloyds Banking Group and Head of Actuarial at Phoenix Group.

    Scottish Friendly’s membership increased to more than 745,000 last year and it has administered over 1 million policies in total.

    Commenting on his appointment Stephen McGee said:

    I am delighted to be joining Scottish Friendly as CEO, it is a day I have been eagerly anticipating but as a ‘local’ to Glasgow I’m very familiar with the history and potential of this great institution and it’s a privilege to be asked to lead.

    Firstly, I would like to thank Martin for the tremendous job he has done in carrying on Jim’s legacy.

    Whilst last year was tremendously challenging for the industry Scottish Friendly were clearly faced with even greater uncertainty and disruption, unsurprisingly Scottish Friendly has continued to go from strength to strength.

    That long term growth will continue thanks to the committed and dedicated team at Scottish Friendly, and I’m ambitious for even more. Mutuality and our customers will be at the heart of everything we do. I do not simply want to lead Scottish Friendly my ambitions is to build the leading mutual insurance organisation in the UK. I want Scottish Friendly to be the best example of the proud and distinct history of mutuality in this country.

    David Huntley (Chair) commented:

    Stephen has been an excellent addition to the Scottish Friendly board since joining as a non-executive director and we are very excited to welcome him as our new chief executive. 

    He is incredibly passionate about mutuality and the benefits it provides to customers, employees and the community. Under his expert leadership, and supported by the rest of the senior team, we look forward to writing the next chapter of the history of Scottish Friendly.