Latest news with #StephenMcGee
Glasgow Times
02-06-2025
- Business
- Glasgow Times
Glasgow company named one of the UK's best workplaces
Financial mutual Scottish Friendly was included in The Sunday Times' list of the top 115 large employers for 2025, earning praise for its "friendly" and "supportive" environment. The recognition highlights the company's strong employee experience, as well as its focus on wellbeing. Read more: New park could become 'destination' attraction for Glasgow families Stephen McGee, chief executive officer at Scottish Friendly, said: "This achievement reflects the dedication, passion, and teamwork that make our company such a fantastic place to be. "It's based on our engagement scores for 2025 – scores that are a direct result of the commitment and positivity that each and every one of you brings to work every day. "Creating a workplace where people feel valued, empowered, and inspired is at the heart of everything we do. "This recognition is not just an award – it's a testament to the culture we've built together." The Sunday Times' Best Places to Work list, compiled in partnership with employee experience platform WorkL, celebrates organisations that excel in employee engagement and inclusive workplace culture. The list also recognises excellence in supporting women, the LGBTQIA+ community, disabled employees, ethnic minorities, and workers of all ages. Organisations are ranked using WorkL's employee engagement survey, which measures factors such as rewards, recognition, pride, empowerment, wellbeing, and overall job satisfaction. Read more: Glasgow city centre road to close for 2 months tomorrow - what we know Scottish Friendly, which employs 352 staff members was commended for its employee wellbeing initiatives, including a dedicated wellbeing week, regular events, and development opportunities through its learning team. The company's customer service team does not work evenings or weekends, and employees benefit from flexible hybrid working arrangements. Other perks include a company pension, private healthcare, generous annual leave, and an upcoming electric car scheme.
Scotsman
01-05-2025
- Business
- Scotsman
Historic Scottish mutual cheers second-strongest sales in 163-year history
'We remain focused and confident in our ability to deliver on our strategic goals and continue supporting our members' financial wellbeing' – Alan Rankine, CFO Sign up to our Scotsman Money newsletter, covering all you need to know to help manage your money. Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Scottish Friendly has notched up the second highest sales in its 163-year history following another period of strong performance. The Glasgow-based mutual reported overall full-year sales of £50.6 million, on an industry standard annual premium equivalent (APE) measure. It credited the result to a 'successful execution' of its growth strategy as well as its 'commitment to delivering long-term value to its members'. That was slightly below the prior year's record-breaking new business sales of £51.1m. Advertisement Hide Ad Advertisement Hide Ad Sales of the society's own brand products saw 'significant' growth, increasing by some 30 per cent year-on-year, driven primarily by new ISA (individual savings account) and junior ISA business. Stephen McGee is the chief executive of Scottish Friendly, the Glasgow-based financial mutual. Picture by Peter Devlin The strong annual performance has enabled it to enhance member benefits, distributing £23m to eligible members, including £4.5m through its profit share scheme in 2024. The society's solvency position increased to a ratio of 216 per cent, up 26 per cent from the previous year, reflecting 'prudent financial management'. Total assets under management stood at £4.2 billion at the year end, which was slightly down from the previous year due to investment market returns and the net impact of policyholder premiums and claims, it noted. Stephen McGee, Scottish Friendly's chief executive, said: '2024 marked another milestone in Scottish Friendly's rich 163-year history, as we achieved our second-highest sales result to date and shared some profits with our eligible members. Advertisement Hide Ad Advertisement Hide Ad 'This is a testament to the strength of our strategy and unwavering focus on delivering meaningful value to our members. Our acquisition from Fidelity International builds on our recent performance and underlines our ambition to scale responsibly while remaining focused on member value.' The mutual recently announced the acquisition of pension and annuity in-payment books of business from Fidelity International. The deal consists of pensions business comprising £2.14bn of liabilities across 76 schemes and covering in the region of 40,000 policyholders, and the in-payment annuities book with liabilities of £7.3m and some 1,000 annuitants. Alan Rankine, Scottish Friendly's chief financial officer, said: '2024 has been another year of solid performance for Scottish Friendly, despite continued geopolitical and economic challenges. Our sales results demonstrate the strength of our business model, while our solvency ratio far exceeds our regulatory requirements, highlighting the financial resilience that underpins everything we do. 'We remain focused and confident in our ability to deliver on our strategic goals and continue supporting our members' financial wellbeing,' he added. Advertisement Hide Ad Advertisement Hide Ad The group has roots stretching back to 1862. Established as the City of Glasgow Friendly Society, its name changed in October 1992 when it took over Scottish Friendly Assurance. In 2024, the society also remained committed to making a 'positive impact in its local community', through continued partnerships with organisations such as Action for Children and Developing the Young Workforce.
