Welcome to Reliance Mutual

Reliance Mutual is a long established life insurance and pensions provider, having started life in 1911. As the name suggests, we are a mutual society, meaning that we are owned by our member policyholders - we have no shareholders.

We are committed to providing a quality service and products for our customers and pride ourselves on our friendly and professional service. All enquiries are handled by friendly, UK-based people.

AGM 2017

Due to changes in the Society's annual reporting processes, and the news announced on this website on 6th February 2017, would all Members please note that this year's AGM will not be held in May as has been the case in recent years, but later in the year, most likely September.

As usual, Members eligible to participate in the AGM will receive a communication explaining the process and confirming all details approximately one month before the meeting.

Reliance Mutual announces proposed demutualisation and sale to LCCG

6th February 2017

Reliance Mutual Insurance Society Limited (Reliance Mutual) is pleased to announce that it has signed an agreement with Life Company Consolidation Group (LCCG) under which it is proposed that Reliance Mutual will be demutualised and all of its business transferred to a newly formed UK life company established by LCCG.

LCCG is a specialist life assurance group, which is focussed both on the International life market and on the management of in-force policies. The business is backed by funds managed by Oaktree Capital Management, a leading investment management firm which is listed on the NYSE with a market capitalisation of $6bn and Assets Under Management of $100bn.

Under the proposed transaction it is expected that:

  • Reliance Mutual’s members will receive a one-off payment dependent on policy size to compensate for loss of membership rights;
  • Members with voting rights will also receive an additional fixed payment compensating them for the loss of their voting rights;
  • Policyholders will benefit from enhanced security as a result of LCCG’s agreement to capitalise the new life company at a level which is materially in excess of Reliance Mutual’s current capital position;
  • With-profits policyholders will benefit from reduced exposure to ongoing operating expenses and the transfer of all liabilities relating to the Reliance Pension Scheme; and
  • Two of Reliance Mutual’s non-executive directors will join the Board of the new life company to provide continuity of oversight for all transferring policyholders.

 Please click here for the full announcement.

 

Annual General Meeting – a thank you!

We’d like to say a huge ‘thank you’ to the members who attended this year’s AGM in London, those who tuned in to watch proceedings live by webcast and to the 6,300 members (10% of those eligible) who voted online or by post.

Our aim is for our members to get the most out of the AGM – to have a clear insight into what’s happening with the Company. Those who were unable to tune in or to attend the meeting can view the minutes of the meeting and the presentation by clicking on the links below. A recording of the webcast is also available to watch.

 


Click on the above image to view this year’s webcast
Video quality will depend on Broadband connectivity

While viewing it won’t be possible to vote or raise questions but if you do have membership-related questions, or if you would like to tell us what improvements we could make to the AGM, please feel free to email members@reliancemutual.co.uk and we will answer as soon as possible.

Click here for the AGM minutes Click here for the AGM presentation

Important Note: Dates of information

Please note that unless otherwise stated, company information on this site relates to the information quoted in the 2015 financial statements.

The Reliance Mutual Group includes:
Reliance Mutual Insurance Society Limited - Registered No. 491580, authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority; Reliance Unit Managers Limited - Registered No. 724451, authorised and regulated by the Financial Conduct Authority and Reliance Administration Services Limited - Registered No. 3710407, authorised and regulated by the Financial Conduct Authority. All are registered in England at Reliance House, 6 Vale Avenue, Tunbridge Wells, Kent TN1 1RG.