Management
There are currently 13 people on the board of directors, with these key individuals:
| Chief Executive | Lindsay Sinclair |
| Chairman of Board of Directors | Richard Percy |
| Finance Director | Kim Arif |
Lindsay Sinclair, the current CEO, joined NFU Mutual from ING Direct in autumn 2007. A New Zealander, aged 52, he is the first external CEO to be appointed at NFU Mutual. Ian Geden, his predecessor, was at NFU Mutual for more than 40 years.
NFU Mutual has strong financial solvency. It has assets of more than £10 billion and a Standard & Poor's credit rating of 'AA' (as of February 2005). NFU Mutual has a very high retention rate. Each year some 95% of policyholders renew. This reflects excellent customer service, a responsive branch network and a policy rebate incentive. Underwriting is profitable.
In 2008, the general insurance book paid out £86 for every £100 premium received. This reflects skilled underwriting with a limited appetite for risk. Acquisition costs are high, reflecting the costs and commissions inherent in maintaining the branch network. Net written premium for general insurance grew by over 5% between 2007 and 2008.
Read more about this topic: NFU Mutual
Famous quotes containing the word management:
“The management of fertility is one of the most important functions of adulthood.”
—Germaine Greer (b. 1939)
“People have described me as a “management bishop” but I say to my critics, “Jesus was a management expert too.””
—George Carey (b. 1935)
“The Management Area of Cherokee
National Forest, interested in fish,
Has mapped Tellico and Bald Rivers
And North River, with the tributaries
Brookshire Branch and Sugar Cove Creed:
A fishy map for facile fishery....”
—Allen Tate (1899–1979)