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A friendly society is a mutual association for the purposes of insurance, pensions, savings or cooperative banking. It is a mutual organization or benefit society composed of a body of people who join together for a common financial or social purpose. Before modern insurance and the welfare state, friendly societies provided financial and social services to individuals, often according to their religious, political, or trade affiliations. These societies are still widespread in many parts of the developing world, where they are referred to as ROSCAs, ASCAs, burial societies, chit funds, etc.
Legal & General Group plc, commonly known as Legal & General, is a British multinational financial services and asset management company headquartered in London, England. Its products and services include investment management, lifetime mortgages, pensions, annuities, and life assurance. As of January 2020, it no longer provides general insurance following the sale of Legal & General Insurance to Allianz. It has operations in the United Kingdom and United States, with investment management businesses in the Gulf, Europe and Asia.
Tet is a Latvian internet service provider, telecommunications, technology and entertainment company. Since 2017, it also is an electricity service provider.
The University of Chester is a public university located in Chester, England. The university originated as the first purpose-built teacher training college in the UK. As a university, it now occupies five campus sites in and around Chester, one in Warrington, and a University Centre in Shrewsbury. It offers a range of foundation, undergraduate and postgraduate courses, as well as undertaking academic research.
Permanent TSB Group Holdings plc, formerly Irish Life and Permanent plc is a provider of personal financial services in Ireland. Irish Life Assurance plc and the Irish Permanent Building Society merged to form the Irish Life and Permanent Group in 1999 and the merged entity acquired the Trustee Savings Bank in 2001. The group has no connection to the UK's TSB Bank.
A mutual organization, or mutual society is an organization based on the principle of mutuality and governed by private law. Unlike a true cooperative, members usually do not contribute to the capital of the company by direct investment, but derive their right to profits and votes through their customer relationship. A mutual organization or society is often simply referred to as a mutual.
Axa S.A. is a French multinational insurance company, headquartered in the 8th arrondissement of Paris. It also provides investment management and other financial services.
The National Union of Teachers was a trade union for school teachers in England, Wales, the Channel Islands and the Isle of Man. It was a member of the Trades Union Congress. In March 2017, NUT members endorsed a proposed merger with the Association of Teachers and Lecturers to form a new union known as the National Education Union, which came into existence on 1 September 2017. The union recruited only qualified teachers and those training to be qualified teachers into membership and on dissolution had almost 400,000 members, making it the largest teachers' union in the United Kingdom.
Royal Liver Assurance was a friendly society with over 1.7 million members in Ireland and the United Kingdom. Subject to Financial Services Authority (FSA) approval, Royal Liver and its subsidiaries became part of the Royal London Group on 1 July 2011.
Insignia Financial Ltd is an Australian financial services company that originated with the Independent Order of Odd Fellows and was formerly known as IOOF Holdings Ltd. It provides clients with a range of financial services including financial advice, investment management, superannuation and estate and trustee services. It is listed on the ASX 200.
Liverpool Victoria, trading since May 2007 as LV=, is one of the United Kingdom's largest insurance companies. It offers a range of insurance and retirement products.
The Foresters Friendly Society is a British friendly society which was formed in 1834 as the Ancient Order of Foresters. As of 31 December 2016, the society had approximately 75,000 members. Its head office is located in Southampton, England.
UIA (Insurance) Limited is a mutual insurance company in the United Kingdom, providing general insurance products to members of the trade union movement and other not-for-profit organisations. It is a member of the Association of British Insurers and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority. UIA Limited is a wholly owned subsidiary, authorised and regulated by the Financial Conduct Authority.
DNV is an international accredited registrar and classification society headquartered in Høvik, Norway. The company currently has about 12,000 employees and 350 offices operating in more than 100 countries, and provides services for several industries including maritime, oil and gas, renewable energy, electrification, food and beverage and healthcare. DNV GL was created in 2013 as a result of a merger between two leading organizations in the field — Det Norske Veritas (Norway) and Germanischer Lloyd (Germany). In 2021, DNV GL changed its name to DNV, while retaining its post-merger structure.
The Royal London Mutual Insurance Society Limited, along with its subsidiaries, is the largest mutual insurer in the United Kingdom, with Group funds under management of over £150 billion. Group businesses provide around nine million policies and employ 4046 people, as of June 2019.
Scottish Friendly Assurance Society Limited is a leading UK mutual life and investments organisation. It provides a range of investment and protection products and provides life and investment products and services to other financial organisations. One of the largest life offices in Scotland, Scottish Friendly is based in Glasgow, United Kingdom and operates throughout the UK and Ireland. It has over 712,000 members and over 1 million policyholders. As of 29 December 2019, the society looked after assets worth over £5.3 billion.
The Marine and General Mutual Life Assurance Society, previously known as MGM Assurance, was established in 1852. The company was dissolved on 10 July 2018, following the transfer of business to Scottish Friendly on 1 June 2015. The Society was Great Britain's longest-registered company and holds the company registration number 00000006.
Wesleyan Assurance Society is a financial services mutual that provides advice and products to select professional groups – notably GPs, hospital doctors, dentists, teachers and lawyers.
Australian Unity is an Australian mutual company having its origins in the friendly societies movement. It was formed as the Manchester Unity Independent Order of Oddfellows (MUIOOF) in Melbourne, Victoria, on 7 December 1840 by eight men including Thomas Strode, publisher of the Port Phillip Gazette and Augustus Greeves, inspired by Independent Order of Oddfellows Manchester Unity. In 1993, Manchester Unity merged with the Australian Natives' Association to form Australian Unity. Later mergers occurred with Grand United Friendly Society in 2005, Lifeplan Australia Friendly Society in 2009, and Big Sky Credit Union in 2012. Australian Unity has about 8,500 employees across healthcare, insurance and banking divisions.
Union Assurance PLC is an insurance company in Sri Lanka. Union Assurance was founded in 1987 and was listed on the Colombo Stock Exchange in the following year. In 2009, John Keells Holdings acquired a controlling stake in the company. The company divested its general insurance business to Fairfirst Insurance and focused on life insurance in 2015. The company was a constituent of Forbes Asia's Best Under a Billion list in 2018. Union Assurance is one of the LMD 100 companies in Sri Lanka. The company is also one of the 100 most valuable brands in Sri Lanka.
References
- ↑ Teachers Aassurance proposes to transfer business to Liverpool Victoria Accessed 15 May 2015
- ↑ "Teachers Assurance transfer to LV=". www.lv.com. Retrieved 2016-06-03.