An overview of Wesleyan's history - 1841 to the present day.

From its humble beginnings right through to the present, Wesleyan's orginal principles of honesty, trust and fairness for all still hold true today.

RC Tomkinson 1849 - 1860

 

            1841

Members of the Wesleyan Methodist Church in Birmingham founded the Society in 1841 to help people overcome the financial problems brought on by the first industrial revolution.


Head Office clerks at work

            1855

The Society began offering life assurance on a nationwide scale and was amongst the first to develop a weekly door-to-door collection service.



H Yates 1860 - 1867

            1866

In recognition of the Society's move from being a localised 'provident' to a nationwide organisation with allarger scale of operation, an Act of Parliament was obtained changing the Society's name to The Wesleyan & General Assurance Society (W&G).

The Act also meant the Society became exempt from the restrictions of the earlier Friendly Societies Act, allowing it to grant assurances for unlimited amounts.

During this year the Society began to transact industrial life assurance of 'Home Service' as it became known, services tailored to the needs of the new manufacturing classes.

By developing a system where premiums were collected weekly, Wesleyan helped people resist the temptation to spend and encouraged thrift amongst the poorer classes.

This proved immediately popular, with the 'insurance man' became a familiar figure. Even today, Industrial Branch business plays an important role in our continued success.


JW Lewis 1867 - 1871

            1894

As the Society continued to grow, Birmingham too was becoming increasingly important as a manufacturing, commercial and communications centre.

So it was very much a sign of the times when the London and North West Railway Company required both of the Society's Moor Street premises for the proposed widening of the rail lines into New Street Station.


B Smith 1871 - 1901

            1914

The Wesleyan & General Assurance Society Act was granted, giving the Society a corporate identity of its own and allowing it more investment freedom.

The Act had a significant effect on the W&G's subsequent progress.

During the Great War the Society was a generous subscriber to the Government and allies' War Loan funds. In February of this year, a single cheque for £250,000 was drawn for this purpose.

To celebrate the end of the war, the Government issued Victory Bond policies and the Wesleyan & General bought Bonds amounting to £3/4 million.


Society's Offices c1900

            1923

As a direct result of a visit by the General Manager to the United States to examine how life offices operated there, a scheme was introduced offering Ordinary Branch policyholders the chance of free periodical medical examinations plus the foundation of the unique Wesleyan & General Health Service Bureau.

This innovative approach earned the Society a reputation as a pioneer among British insurers. 


 

Mr AL Hunt General Manager 1913

            1927

The commencement of Fire and Accident business (burglary, motor, personal accident etc.) meant that the Society could now offer its customers a complete range of insurance services. 



 

Mr BS Smith 1913 - 1930

            1940

Following the outbreak of the Second World war in the previous year, the Chief Office basement and other buildings owned by the Society were converted into air raid shelters.

First aid HQ was established in the basement WC! 

Head Office staff

            1944

The Society single-handedly challenged the taxation of Life Annuities, a situation regarded by many, including several respected insurance bodies, as being unfair.

This effort increased awareness of the injustice resulting in the Finance Bill of 1956 changing the law regaring tax on Life Annuities.


 

Head Office staff

            1952

Continuing its enlightened attitude to staff welfare, the Society introduced the Widows and Orphans Fund.

Under this scheme if an employee died while in the service of the W&G, provision was made for his or her spouse and dependants to receive an allowance from the Society.
 

Head Office staff

            1991

In the Society's 150th anniversary year a special limited edition Anniversary Bond was launched, offering customers a guaranteed return with no risks.

A few months later the first phase in arange of new-look General Branch policies was launched, providing much-improved cover a little or no extra cost.
 

Head Office Building, Birmingham

            1993

Wesleyan Savings Bank is established. Orginally created to provide a safe home for the proceeds of maturing investment policies.

A milestone was reached in the anniversary year with the Society'd move to new high-tech premises at Colmore Circus, which was officially opened by HRH The Duke of Kent KG.

The occasion was marked by a VIP gala evening culminating in a special birthday concert by Sir Simon Rattle and the CBSO at Birmingham's Symphony Hall. 
 

Mr LD Maclean 1999 - present

            1997

The Society merged with the Medical Sickness Society, which had a long history of financial advice to the medical and dental professions.


 

Head Office staff

            2002

The merger with Medical sickness enabled the Society to build a market-leading brand, which was strengthened by the acquisition of Professional Affinity Group Services (PAGS).

 

Preserved Wesleyan history

            2003

A partnership agreement was signed with the National Association of Schoolmasters and Union of Women Teachers (NASUWT) to provide specialist financial services for its membership of over 200,000 teachers throughout the UK.

 

Mr Craig Errington Chief Executive

            2005

The salesforce became multi-tied, offering value and choice to customers through both Wesleyan manufactured and third party products. 



Head Office refurbishment

            2007

The Society launches into the legal market with Wesleyan for Lawyers, a holisitc approach to financial planning for the legal profession.

A major refurbishment programme commences at the Society's head office building, creating a better, brighter environment for our customers and staff.

Up to £8 million is set aside to deliver a new Mutual Reward Scheme aimed at benefiting our members.

Wesleyan Savings Bank becomes Wesleyan Bank in recognition of how it has eveolved to offer more then just savings and play a more central role in the Society's plans for the future.

Wesleyan beats off the competition to become the 'clear winner' of the ifs Financial Innovation Award for 'Most Effective Customer Segmentation Strategy'.


 

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            Looking to the future

As Wesleyan moves into new markets and we continue to build on our financial strength, our committment remains to meet the financial needs of our chosen sectors and provide a market leading customer experience.