Awarded by Wesleyan Foundation since its launch in 2017, supporting our customers and communities across the UK (2022: £5m)
Welcome to Wesleyan's year in review. Here you’ll find key information on our highlights for 2023. For more details on our performance, strategy, governance and remuneration, you can download our Reports and Accounts below.
Our purpose
Our members, customers and the professions we serve are front and centre of everything we do, especially in difficult times. That’s why we’ve been working hard to provide support as the cost of living pressures impact so many people.
As a financially strong business, we can take long-term decisions that deliver the best outcomes for our members and customers. We are here to provide specialist financial advice, give peace of mind and security, help our customers make the most of their money and give them confidence in their financial futures.
That’s why we say “we are all about you”.
2023 highlights
£12.3m group operating profit/(loss)
(2022: £7.2m)
£7.6bn total assets
Actively managed or administered by (or on behalf of) the Group (2022: £7.2bn)
£417m society premium income
The total premiums received during the year for life and pensions business (2022: £493m)
322% solvency ratio
A measure of our financial strength (2022: 373%)
£2.7m financial contribution
To provide member discounts on personal and commercial insurance lines (2022: £2.5m)
£5.9m Wesleyan Foundation reward
Q&A with Nathan Moss
Nathan Moss, Chair of Wesleyan Board of Directors, gives an overview of how Wesleyan progressed in 2023 and tells us why mutuality works for customers and colleagues as well as members.
A sustainable mutual
Our approach is governed by our Sustainability Strategy which is approved by our Board of Directors. With Environmental, Social and Governance (ESG) at its core, this strategy sets out our key sustainability principles:
- Sustainability in our product offerings
- Our infrastructure
- How we invest our customers’ funds
- Support and guidance for our colleagues and causes
Here for you at every stage of your life
Looking to create a brighter financial future? See how we can help you throughout your career and beyond.
Through university, graduation and transitioning into working life:
Buying a home and building your family:
Whether you’re starting your own business, becoming a partner or buying a practice:
Saving for your future - including planning retirement options
- Savings and investment products
- Buy to let mortgage advice*
- Landlord insurance
- Starting a pension
- Retirement planning advice - supported by our specialist knowledge of workplace pension schemes
* Most buy to let mortgages are not regulated by the Financial Conduct Authority.
Make sure you have a comfortable retirement and that inheritance affairs are in order:
- A range of retirement options including flexible access drawdown and annuities
- An exclusive Retirement Club to help you plan for your dream retirement
- Inheritance tax planning and capital gains tax planning
Inheritance tax planning is not regulated by the Financial Conduct Authority.
The mutual that gives more
Wesleyan Assurance's mutuality is an integral part of who we are and how we operate. We don’t have shareholders which means we can take a long-term view. It also means we can share our success and how we run our business with our members.
We thrive by staying true to the needs of the people who matter most - our members, our customers and colleagues, as well as to the communities in which we all live and work.
You can read more about our mutual difference (PDF).
Our strategy
Wesleyan’s purpose is to create brighter financial futures for the professions we trust - doctors, dentists and teachers.
We aim to achieve this by delivering our strategy which will see us become a true lifelong partner to our customers, brilliant to do business with and leverage our mutuality with edge to provide added value for members, customers, and colleagues.
See our strategy (PDF).
Our governance
The Society aims to meet the highest standards of corporate governance. For all our customers and policyholders, the Board has chosen to adopt the UK Corporate Governance Code.
To learn more about our Senior Leadership Team, the Board of Directors and the Directors’ Remuneration Report, see our Governance Report (PDF).
Wesleyan Assurance's mutuality is an integral part of who we are and how we operate. We don’t have shareholders which means we can take a long-term view. It also means we can share our success and how we run our business with our members.
We thrive by staying true to the needs of the people who matter most - our members, our customers and colleagues, as well as to the communities in which we all live and work.
You can read more about our mutual difference (PDF).
Wesleyan’s purpose is to create brighter financial futures for the professions we trust - doctors, dentists and teachers.
We aim to achieve this by delivering our strategy which will see us become a true lifelong partner to our customers, brilliant to do business with and leverage our mutuality with edge to provide added value for members, customers, and colleagues.
See our strategy (PDF).
The Society aims to meet the highest standards of corporate governance. For all our customers and policyholders, the Board has chosen to adopt the UK Corporate Governance Code.
To learn more about our Senior Leadership Team, the Board of Directors and the Directors’ Remuneration Report, see our Governance Report (PDF).
Key documents
Annual Report & Accounts 2023 (PDF, 10.5MB)
Wesleyan Notice of Meeting (PDF, 129KB)
The NASUWT, the RCGP and the RCOG are introducer appointed representatives of Wesleyan Financial Services Limited.