Wesleyan reports strong investment return
Financial services specialist Wesleyan Assurance Society has announced that in 2009 it made 20.1% gross investment return on its with profits life and pensions fund.
The fund has a greater than usual investment in equities, and the return is thought to be superior to most competitors.
Investment Director Mike Lewis has explained that the firm believes in the long term potential of equities investment, with its financial strength allowing it to remain heavily invested in the tougher years of 2007 and 2008 so it could reap the rewards in 2009 when the market improved.
Chief Executive Craig Errington added that the firm benefited from not having any shareholders to consider, enabling it to take the right decisions for the long term.
Wesleyan has received a 10/10 rating for the last five years from the Cazalet With Profits Rating Report, and is the only life office to have achieved this.
Category: Insurance News
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