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Farm Business
Agricultural Matters
NFU mutual financial results / remuneration
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<blockquote data-quote="Clive" data-source="post: 8700812" data-attributes="member: 6"><p>Someone send me this and asked if i would post on TFF, they work for the NFU so asked to remain anon………. so ………</p><p></p><p>( to be clear - this is the insurance co not the NFU but as we know there are VERY strong links and multi million £’s payment made in NFU accounts between these entities )</p><p></p><p></p><p>Subject: NFUM results (not a full year)</p><p></p><p></p><p></p><p>£182m OVERALL PROFIT “The Group performed well in difficult circumstances, achieving an overall profit of £182m and our underlying financial, capital and solvency position has remained very strong.”</p><p> </p><p>£89m UNDERWRITING LOSS “The underwriting loss of £89m reflects the challenging economic environment and weather conditions as we continue to support our customers and pay out on claims.”</p><p> </p><p>95.5% PERSISTENCY “The percentage of GI policies renewed in 2021 remained high with exceptional persistency levels of 95.5%.”</p><p> </p><p>Nick Turner (CEO) picks up £1.047m inc bonus</p><p>Lindsay Sinclair (no longer employed) picks up £879k (down from his last year as CEO at £2.26m)</p><p>Ali Capper (Non Exec Director) picks up £73k</p><p> </p><p>Gross Written Premium £1.825bn before Mutual Bonus up 7%</p><p>Underwriting loss of £89m blaming inflationary forces and malign weather conditions</p><p> </p><p>Mutual Bonus for 22/23 = 13.5%</p></blockquote><p></p>
[QUOTE="Clive, post: 8700812, member: 6"] Someone send me this and asked if i would post on TFF, they work for the NFU so asked to remain anon………. so ……… ( to be clear - this is the insurance co not the NFU but as we know there are VERY strong links and multi million £’s payment made in NFU accounts between these entities ) Subject: NFUM results (not a full year) £182m OVERALL PROFIT “The Group performed well in difficult circumstances, achieving an overall profit of £182m and our underlying financial, capital and solvency position has remained very strong.” £89m UNDERWRITING LOSS “The underwriting loss of £89m reflects the challenging economic environment and weather conditions as we continue to support our customers and pay out on claims.” 95.5% PERSISTENCY “The percentage of GI policies renewed in 2021 remained high with exceptional persistency levels of 95.5%.” Nick Turner (CEO) picks up £1.047m inc bonus Lindsay Sinclair (no longer employed) picks up £879k (down from his last year as CEO at £2.26m) Ali Capper (Non Exec Director) picks up £73k Gross Written Premium £1.825bn before Mutual Bonus up 7% Underwriting loss of £89m blaming inflationary forces and malign weather conditions Mutual Bonus for 22/23 = 13.5% [/QUOTE]
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NFU mutual financial results / remuneration
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