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Re: Friendly Society Tax-Free Savings

Interesting story .. back to 2008 where many of the mentioned FS are long gone. I am not sure I agree with the concept of some FS coming together to achieve economies of scale and overcome government legislation. If they merge then all well and good but we do not need a whole raft of directors doing very little for their remuneration packages.
by patientperson
Fri Feb 12, 2016 8:55 am
 
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Airdrie Savings Bank

Another one to bite the dust.

https://airdriesavingsbank.com/get-in-touch/important-information/

Notification received that the Airdrie SB will be closing branches and wound down with the final closure of the Airdrie Head Office/branch to be advised but expected to be in 2017.

The Airdrie resisted the TSB approach years ago.

They claim that they are still financially strong but do not disclose where their assets will go when the doors are finally closed.

This Bank is run by Trustees so is quite unusual in this day and age
by patientperson
Fri Jan 27, 2017 10:45 am
 
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Re: Airdrie Savings Bank

Pandora. Thanks for that link. Interesting story.

As you stated ..the BBC date was the 18th .. I was away till the 24th so then saw it in my post.

The Airdrie Head Office picture is impressive. Surely that must be worth something if it is owned by ASB.

As the Bank is run by Trustees the customers are not really members in the same way as the Building Society model.
by patientperson
Sat Jan 28, 2017 1:04 pm
 
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Re: Airdrie Savings Bank

planteria wrote:agreed re. the head office building..

so from "in my post" i take it you are an ASB customer :angel:


Indeed I am .. in a very small way .. just in case. :thumbup:
by patientperson
Sat Jan 28, 2017 4:44 pm
 
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Re: Liverpool Victoria (L.V.) seeking partners?

When LV cites all the new regulations as being too much then how do some of the very small FS still manage?.

Here I look at Red Rose Assurance which is tiny compared to LV.
by patientperson
Sun Mar 26, 2017 8:25 am
 
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Re: Liverpool Victoria (L.V.) seeking partners?

Planteria. I have been a member of Red Rose since 2000 but pleased to see that their website is now quite modern.

http://www.redroseassurance.co.uk/

Both Royal London and LV are big and of course I am still a member of both.
by patientperson
Sun Mar 26, 2017 9:18 am
 
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Re: Royal London

How to quantify the benefit of such sponsership is one open for debate.

In principle the Nationwide acts like a bank but will not demutualise .. so the directors never had a mandate from the members (ala owners) to sponser sporting events. It appears to be their whim and of course to enjoy the special benefits open to them at the costs paid by the members. Or perhaps the odd member was invited to the hospitality box or tent. Certainly pp never has had an invite.
by patientperson
Sat May 10, 2014 8:12 am
 
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Reliance Mutual - proposed sale to LCCG

LCCG - Life Company Consolidation Group

http://www.reliancemutual.co.uk/news/proposed-sale-announcement/

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;


There will be a SGM later in 2017 to vote on this sale.

Of special note is that LCCG is still on an aquisition trail for further insurance mutuals
by patientperson
Sat Sep 16, 2017 1:09 pm
 
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Re: Reliance Mutual - proposed sale to LCCG

interesting pp.
you say "still".. but were you aware of LCCG before? :think:

I have never heard of LCCG before.

Reliance 2016 AGM muted a sale. More announcement came in Feb 2017 with now more details in the 2017 AGM literature.

In the 2017 AGM Chairman's statement .. here I just concentrate on LCCG.

Actively seeking to consolidate the operations of smaller life assurance entities in the UK and elsewhere. They have already made acquisitions in Ireland and the I-o-Man.
by patientperson
Sat Sep 16, 2017 4:30 pm
 
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Re: Reliance Mutual - proposed sale to LCCG

Yes planteria .. indeed we have .. the number of mutuals is diminishing all the time.

I think 'once a bagger' .. 'always a bagger' .. it keeps us interested.

What will we concentrate on when the remaining mutuals are down to single figures I wonder?.

Nice to see Oggy is still with us too.
by patientperson
Sun Sep 17, 2017 5:42 pm
 
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