Teachers Assurance pays Special Mutuality Bonus to Members

Teachers Assurance has today announced that they will be returning excess profits to their With-Profits members in the form of a Special Mutuality Bonus.

Going from strength to strength, in 2010 Teachers Assurance was reported as the ‘Strongest With-Profits Life Office*’ for the fourth year in a row. An excess of free assets has allowed them to reward their members with this special bonus and for the third time in their recent history, over £4m will be returned to members later this year.

Chief Executive David Furniss commented “Since our set up in 1877 we have existed as a mutual society, for the benefit of our members.  This encompasses everything we do, from the design of our products with their specific guaranteed returns, through to bonuses and additional payments that we give back to members to increase the value of their returns.

In 2010 we paid out over £90m to members and customers on policies, we achieved an 11.6% investment return on the With-Profits Fund and we’re now delighted to make this additional special payment to those members who have invested with us.”

 *Source: Money Management August 2010– Strongest Life Office by Free Asset Ratio

For more information contact Tina Flower, Head of Membership Services on 01202 435147

614611