There was £7.2billion worth of assets either actively managed or administered by (or on behalf of) the Wesleyan Group.
At the Wesleyan Group, we understand the importance of financial strength and how it can matter to you. After all, when you’re looking to trust someone with your money, you need to know it’s in strong and safe hands.
Financial strength sits at the heart of our strategy, reflected by 180+ years as a financial organisation.
As Wesleyan, we’ve seen two world wars, multiple recessions and even global pandemics, and remained financially strong through it all. It’s this strength that allows us to remain resilient in the face of financial upheavals and uncertain markets, while being well placed to support our members and customers going forwards.
For more than 180 years, Wesleyan has been a proud mutual, owned by, and managed on behalf of our members. During this time, we’ve experienced the highs and lows of an uneven financial landscape and come through it stronger and wiser.
This is due, in no small part, to our mutuality, which means we don’t have any shareholders to consider when it comes to making financial decisions or investments. Everything we do is for the sole benefit of our members and customers.
For instance, investment markets can be volatile, so when markets are down, we are likely to be buying out of favour stocks that we believe will benefit our investors in the long term. Shareholders, in contrast, might expect us to make short-term decisions to meet their needs first.
Also, as a mutual, we are not under pressure to release excess capital to shareholders. Therefore, we’re able to use profits to bolster our financial strength and benefit our members for years to come.
Indicators of our financial strength (Annual report 2022)
A key metric by which we measure financial strength is the solvency ratio. At end of year 2022, our solvency ratio stood at 373%.
Solvency ratio measures our readiness to both meet future debt obligations and cover long-term liabilities. It is used in business to assess a company’s financial health. Ours is calculated as the ratio of eligible capital to the regulatory capital requirement.
Our current solvency ratio demonstrates how we are committed to delivering for our members and customers, both now and in the future, with the business continuing to hold a strong and resilient position.