• Performance Review 2018
  • Annual Report & Accounts 2018
  • 2018 Highlights

    gross annual increase to With Profits investors (2017: 14.5%)

    additional payment into the With Profits Open Fund - a 0.9% uplift to investment returns (2017: £9m)

    awarded by the Wesleyan Foundation since launch to support over 300 projects

    of personal income protection claims were paid compared with an industry average of 87% *

    Net Promoter Score, representing how likely customers are to recommend an organisation. Average score for insurance sector is +13** (2017: +54)

    Group Fund for Future Appropriations which represents our financial strength (2017: £656m)

    total assets actively managed or administered by or on behalf of the Group (2017: £7.65bn)^

    Including: Investment Strategy of the Year and Business Finance Champions

    * Association of British Insurers 2017 – figures published in 2018
    ** UKCSI Report January 2019
    ^ Group assets under management includes the assets of the pension scheme of £0.5bn (2017: £0.5bn) and WUTM assets under management of £0.1bn (2017: £0.2bn).

    Our Purpose

    The specialist partner securing the financial futures of society's most trusted professions

    Wesleyan has been helping people secure their financial futures for over 177 years. 

    We’ve stood strong in an ever changing and often challenging world, which has allowed us to take a long-term view. We don’t react to short-term events but stay focused on what will deliver the best outcomes for our members and customers in the future.

    Today we specialise in supporting some of society’s most trusted professions to achieve their financial goals.

    Performance Review 2018


    We aspire to build life-long relationships with our customers providing specialist financial advice from graduation to retirement.

    As a mutual, we don’t have shareholders so we can work to benefit those who invest in our business – our customers and members. That is why we say “We are all about you”.

    WE ARE
    ALL ABOUT YOU

    Wesleyan is dedicated to the most trusted professions in society and is committed to securing the financial futures of doctors, dentists, teachers and lawyers – so they can focus on the vital work they do.

    See more by clicking on one of our trusted professions.

    DOCTORS

    We have a long standing heritage of providing financial advice for medical professionals, including GPs and Hospital Doctors. Whether you’re a student, a partner or a consultant, we can help with many areas of specialist planning, such as your NHS Pension Scheme.

    DENTISTS

    We have a strong reputation for our expertise in the dental sector, whether your needs are personal or practice-related. Practice Plan, DPAS and Medenta are part of the Wesleyan Group and are market leaders in providing dental membership plans and business support.

    TEACHERS

    Designed to cater for the financial needs of the teaching profession, our expertise and experience, gained from working in conjunction with the NASUWT and other unions, enables us to assist you with everything from the Teachers Pension Scheme, to retirement planning and investing.

    LAWYERS

    From law school to a senior partnership, we can offer financial advice every step of the way. Our knowledge, partnerships and key contacts including representatives on our Advisory Boards, mean we are well placed to understand the legal market and offer products and services that meet the needs of legal professionals.

    WE ARE
    ALL ABOUT YOU

    Wesleyan is dedicated to the most trusted professions in society and is committed to securing the financial futures of doctors, dentists, teachers and lawyers – so they can focus on the vital work they do.

    See more by clicking on one of our trusted professions.

    DOCTORS

    We have a long standing heritage of providing financial advice for medical professionals, including GPs and Hospital Doctors. Whether you’re a student, a partner or a consultant, we can help with many areas of specialist planning, such as your NHS Pension Scheme.

    DENTISTS

    We have a strong reputation for our expertise in the dental sector, whether your needs are personal or practice-related. Practice Plan, DPAS and Medenta are part of the Wesleyan Group and are market leaders in providing dental membership plans and business support.

    TEACHERS

    Designed to cater for the financial needs of the teaching profession, our expertise and experience, gained from working in conjunction with the NASUWT and other unions, enables us to assist you with everything from the Teachers Pension Scheme, to retirement planning and investing.

    LAWYERS

    From law school to a senior partnership, we can offer financial advice every step of the way. Our knowledge, partnerships and key contacts including representatives on our Advisory Boards, mean we are well placed to understand the legal market and offer products and services that meet the needs of legal professionals.

    The Mutual Difference

    Mutuality is integral to our business. We work for the benefit of our members as we do not have shareholders. What does it mean to be a member?

    You share in the success of our business.

    You are part of an organisation that cares for its customers and about the future of our trusted professions.

    You get a say in how we run our business and how we distribute money through our charitable foundation.

    More Information

    Q&A with Chair Nathan Moss

    Nathan Moss tell us about his first year as Wesleyan Chair and why its was a good year for members, but not without its challenges

    What kind of year was 2018?

    What was the greatest challenge in the year?

    More Information

    Life stage

    Starting a career

    How Wesleyan supports

    Starting a career

    Through university,
    graduation and
    transitioning into working life.

    Specialist financial advice

    • Financial education programme, The Next Step
    • Student Income Protection
    • Gadget insurance
    • Savings options

    Buying a home, starting a family

    Putting down roots,
    becoming a home owner,
    becoming a parent.

    Specialist financial advice

    • Saving for a deposit
    • Whole of market mortgage advice
    • Saving for you and your family’s future
    • Protecting your income and your home

    Starting a business

    Starting your own business,
    becoming a partner,
    buying a practice.

    Specialist financial advice

    • Commercial funding range including loans and asset finance
    • Commercial protection and insurance options

    Building your wealth

    Saving for your future for you and
    your family including planning
    retirement options.

    Specialist financial advice

    • Range of saving and investment products
    • Buy to Let Mortgages advice and Landlord Insurance
    • Retirement planning advice backed by specialist knowledge of occupational pension schemes
    • Retirement options including Pension, Flexible Access Drawdown and Annuities

    In Retirement

    Ensuring a comfortable retirement
    and that inheritance affairs are in order.

    Specialist financial advice

    • Retirement range including Flexible Access Drawdown and Annuities
    • Inheritance Tax Planning/Capital Gains Tax Planning

    Starting a career

    How Wesleyan supports

    Starting a career

    Through university,
    graduation and
    transitioning into working life.

    Specialist financial advice

    • Financial education programme, The Next Step
    • Student Income Protection
    • Gadget insurance
    • Savings options

    Buying a home, starting a family

    Putting down roots,
    becoming a home owner,
    becoming a parent.

    Specialist financial advice

    • Saving for a deposit
    • Whole of market mortgage advice
    • Saving for you and your family’s future
    • Protecting your income and your home

    Starting a business

    Starting your own business,
    becoming a partner,
    buying a practice.

    Specialist financial advice

    • Commercial funding range including loans and asset finance
    • Commercial protection and insurance options

    Building your wealth

    Saving for your future for you and
    your family including planning
    retirement options.

    Specialist financial advice

    • Range of saving and investment products
    • Buy to Let Mortgages advice and Landlord Insurance
    • Retirement planning advice backed by specialist knowledge of occupational pension schemes
    • Retirement options including Pension, Flexible Access Drawdown and Annuities

    In Retirement

    Ensuring a comfortable retirement
    and that inheritance affairs are in order.

    Specialist financial advice

    • Retirement range including Flexible Access Drawdown and Annuities
    • Inheritance Tax Planning/Capital Gains Tax Planning

    Our Strategy

    In 2018, we completed a review of our strategy following detailed analysis of the internal and external factors impacting our business.

    Our revised strategy gives us a clear direction of travel and will ensure we remain a strong and successful business.

    More Information

    Our Governance

    The Society aims to meet the highest standards of corporate governance. The Board is responsible to the Society’s policyholders and has chosen to adopt the UK Corporate Governance Code.

    The report includes information on the Senior Leadership Team, the Board of Directors and the Directors' Remuneration Report.

    More Information

    Hear more

    Wesleyan's Chair Nathan Moss shares an overview  the 2018 Annual Results.

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    Non-Financial Information

    We comply with the new Non-Financial Reporting requirements contained in sections 414CA and 414CB of the Companies Act 2006. 

    Below sets out some of the initiatives we have taken in key areas.

    Employees

    Introduction of the Partnership Council, an enhanced staff consultative body. Nine apprentices taken on during 2018. Four new Employee Networks established to improve inclusion and diversity. Mental Health First Aiders.

    Environmental Matters

    Removed single use plastic cups within Head Office. (saving 128,000 plastic cups a year) To offset the effect of paper printing we planted 374 trees in 2018 in Brazil. Madagascar, Dominican Republic and Ireland.

    Social Matters

    Wesleyan Foundation marked its £1m milestone in 2018. 292 employees donated 2,193 hours to help in excess of 25 organisations through staff volunteering days.

    Respect for Human Rights

    Inclusion and Diversity Project led by the Chief Risk Officer, Roger Dix. Signed up to Women in Finance Charter. Target of 33% of women in top roles by 2023.

    Anti-corruption & Anti-bribery

    All staff undertake annual training to recognise and combat corruption. bribery and financial crime. All staff declare and record gifts or hospitality offers of any value monthly.

    Have Your Say

    If you are a member of Wesleyan, you are entitled to have a say in the way we run our business, by voting on resolutions in our Annual General Meeting (AGM).

    This year's AGM takes place at Wesleyan Head Office, Colmore Circus, Birmingham, B4 6AR  at 2.00pm on Thursday 23 May 2019. Download the Notice of Meeting information below.


    This year, for every vote registered, we will donate £1 to The Woodland Trust, the UK's leading woodland conservation charity, helping to plant and protect trees across the UK. We have sent many of our AGM packs by email this year, and estimate we'll be saving 240 trees.

    Downloads

    Annual Report & Accounts 2018

    Download this report

    Performance Review 2018

    Download this report

    Wesleyan Notice of Meeting

    Download this Notice