History
NFU Mutual was formed in 1910 by 7 local farmers as the Midlands Farmers Mutual Insurance Society Ltd., with working capital of just £190. It was formed to provide an inducement for farmers to join the NFU, which had been formed 2 years earlier. The provision of cheap insurance cover for NFU members contributed to the early growth of the NFU and NFU Mutual. Life insurance cover was introduced during the 1920s.
Although originally providing insurance only for members of the National Farmers Union, the mutual diversified outside of the farming industry during the 1980s. Over half of the policies by number now originate outside of the farming community.
NFU Mutual currently trades within only the UK, Channel Islands and Isle of Man. From 1948 to 1966, it offered insurance in Rhodesia (now Zambia and Zimbabwe), Kenya and Tanganyika (now in Tanzania). In 1954 the NFU Mutual orchestrated the building of the new skyscraper, Farmer's Mutual House, in Harare.
Famous policyholders include David Lloyd George, Aneurin Bevan and Anthony Eden.
The mutual celebrates its 100th anniversary in 2010 and has planned a number of events to commemorate the occasion. On 4 January 2010, the mutual unveiled an internal DVD, featuring senior management performing a cover version of the Peter Kay version of the Tony Christie song Is This the Way to Amarillo. This publicised a company wide talent competition, "NFU Mutual's Got Talent", copying the format of Britain's Got Talent. Also announced were a new book on the history of the mutual and a dinner for all members of staff.
Read more about this topic: NFU Mutual
Famous quotes containing the word history:
“No cause is left but the most ancient of all, the one, in fact, that from the beginning of our history has determined the very existence of politics, the cause of freedom versus tyranny.”
—Hannah Arendt (1906–1975)
“Anything in history or nature that can be described as changing steadily can be seen as heading toward catastrophe.”
—Susan Sontag (b. 1933)
“If usually the “present age” is no very long time, still, at our pleasure, or in the service of some such unity of meaning as the history of civilization, or the study of geology, may suggest, we may conceive the present as extending over many centuries, or over a hundred thousand years.”
—Josiah Royce (1855–1916)