Cirencester friendly has increased both premium income and membership in the last year.
The friendly society grew net earned premiums by 6.6% to £12.1m in 2010 with membership growing by 5%.
It also reported significant increases in bonuses paid to members which it said was down to prudent investment management and the growth of premiums and clients.
Paul Hudson, chief executive of Cirencester friendly, was pleased with the results but said the holloway income protection provider would continue to take a careful approach over the next year.
"It is gratifying to report a successful 2010 for both the Society and its members," he said.
"Last year saw continued growth in premium income and a strong performance in our investment portfolio, as well as an increase in membership. In what has been, and continues to be, a tough global economic situation it is very encouraging to see such positive performance.
"During a difficult time for all in the financial services industry, our prudent management and continued policy of avoiding unnecessary risk has again been justified.
"Looking forward we will remain cautious in 2011 and endeavour to maintain the competitiveness of our product," he added.
