Cirencester Friendly has increased its annual premium income by 4.5% and its investment income by over 10% during 2014, the friendly society's 125th Annual Report and Accounts have revealed.
Annual premium income had increased by 4.5% from £14.2m in 2013 to £14.9m in 2014.
Meanwhile, investment income had increased over 10% from £1.56m in 2013 to £1.72m in 2014. The total value of the society's assets increased by 8.8% from £68.5m in 2013 to £74.5m in 2014, the results showed.
In addition, £2m in bonuses were also paid to members of the friendly society.
Cirencester Friendly also continued to publish its annual claims statistics showing that 94% of claims were paid with sick pay benefit totalling £3.3M in 2014.
During 2014 the society launched its first ever pure income protection contract, My Earnings Insurance.
Paul Hudson, chief executive at Cirencester Friendly said: "It is satisfying to be able to report that Cirencester Friendly has once again seen strong annual growth. It is a testament to the dedication of the Society's staff that membership, premium and investment income and the value of the society's assets have all increased in 2014."
He continued:"2015 marks the 125th anniversary of the founding of the Society and we look forward to continuing to deliver on our promise to help Members financially when they need us most, and to providing the highest standards of service to our Members and the advisers who recommend the Society to their clients."
