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Meg Munn MP - Sheffield Heeley's voice in Parliament | Welcome
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Growth for mutual insurance and community shops sectors

Monday, July 1, 2013

Insurance

A recent report reveals that UK co-operative and mutual insurers have been growing over the past five years despite the recession. They have increased sales by over a third between 2007 and 2011, doubling market share.

In the 2007 to 2011 period premium volumes for the mutual sector increased by 38% while for the whole insurance market they decreased by 28% - increasing market share from 4.3 to 8.2%. Long term investment strategies have led to sustained asset growth since 2008. 

Meg commented:

“The growth in the UK mutual insurance sector is good news, particularly during a time of recession and general cut backs. Co-operative and mutual organisations put their members first, which engenders trust and loyalty.”

For details visit: http://www.icmif.org/mutual-insurers-emerge-from-economic-crisis-with-increase-in-market-share

& community shops

A new report, A better form of business: community owned village shops 2013, shows record sales for community owned shops average gross sales for 2012 grew by 13% from the previous year, with the net profit showing an average of 22.8% increase.

The report was produced by the Plunkett Foundation who help the rural population through community-ownership to take control of the issues affecting them. They help the establishment of community-owned shops and support efforts to establish a wide range of other community-owned rural services, particularly promoting the development of community food and farming enterprises.

Meg commented:

“I’m very pleased that rural communities are coming together to establish shops owned and run for their own benefit and that their sales and profits are increasing.”

For details visit: http://www.plunkett.co.uk/whatwedo/rcs/ruralcommunityshops.cfm


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