BOURNEMOUTH, England, April 6, 2011 /PRNewswire/ -- 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 pounds will be returned to members later this year.
Chief Executive David Furniss commented, "Since our setup 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 pounds 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 or visit:
About Teachers Assurance
Teachers Assurance has been looking after the financial interests of education professionals and their families since 1877.
Our nationwide team of Financial Consultants have expert knowledge of the Teachers Pension Scheme. This means they are able to offer a retirement planning service that will take into account existing benefits, identify any shortfalls, and offer financial solutions to address them.
As well as retirement, our consultants provide advice on investments, savings and protection products and services from Teachers Assurance and selected third party providers.
To arrange to receive financial advice or find out more about the services offered by Teachers Assurance, visit www.teachersassurance.co.uk or call Freephone 0800 056 0563
Tel: 01202 237135
Email: [email protected]
SOURCE Teachers Assurance