- Money Management ranks Wesleyan top with profits bond performer
- 10/10 rating for seventh successive year in Cazalet survey
Wesleyan Assurance Society, the Birmingham-based financial services specialist for doctors, dentists, teachers and lawyers, has again topped a leading industry survey for the performance of its with profits bond.
The bond was named top performer in a Money Management survey* published earlier this month giving Wesleyan savers the best payouts on their investments and outperforming similar products from larger firms such as LV= and Prudential.
The survey looked at the ‘cash in’ value for a £10,000 initial investment over one to 10 years. Wesleyan took the top spot not only for ten years – which saw a return of £16,805, with an AGR (Annual Growth Rate) of 5.3%, compared to the 1% net from an average 90 day deposit account over the same period – but also over six, seven, eight and nine years.
These results come on the back of Wesleyan being rated a ‘rock solid 10 out of 10’ in an independent survey of with profits offices by Cazalet Consulting, making it the only life office to achieve this feat for seven successive years. The report said: “[Wesleyan] continues to top the charts with regard to impressive with profits financial strength, good investment flexibility and relatively very strong underlying investment performance, added to which the Society has managed the rare feat, compared to the sector as a whole, of attracting more in premium income than it has been paying out in claims during the past couple of years.”
Wesleyan Chief Executive Craig Errington said: “With the uncertainty in the economy, reports like this highlighting our track record of financial strength and investment performance reassure our customers that Wesleyan is a safe place to invest their money.
“We can expect the next 12 months to be another difficult period for savers and investors, especially with interest rates expected to remain at record lows, but we are confident customers will continue to benefit from our financial strength and our mutuality.”
* Results taken from Money Management magazine study published 01.01.2012 ‘With profits bonds: latest results’. Results tracked cash in values to November 2011.