NFU Mutual Bonus scheme 'to benefit policyholders'

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NFU Mutual Bonus scheme 'to benefit policyholders'

Wed 15th Feb 2006

The NFU Mutual Bonus scheme will be transmitted to the company's customers in 2006 through reductions on their renewal premiums of up to ten per cent, according to the firm.

It is claimed that almost one third of NFU's profits have been transferred to its customers over the last six years through its bonus scheme.

Renewal premiums are expected to fall by between six and ten per cent in 2006 – the NFU Mutual Bonus that members receive is dependent upon how long they have been with the company.

The company also stated that the bonus amount will be sensitive to changes in the firm's business performance and issues such as claims experience and market conditions.

NFU Mutual's group chief executive Ian Geden said: "I am delighted that for the seventh consecutive year we will be providing an NFU Mutual Bonus for our general insurance customers."

The insurance group claims to be recognised as the leading rural insurer in the UK and is controlled by the Financial Services Authority.

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