A new organisation - the
Association of Financial Mutuals - was formed through the merger of the
Association of Mutual Insurers and the
Association of Friendly Societies on January 1. In a
report appearing in the
Financial Times, the AFM's chief executive, Martin Shaw, is quoted:
The mutual sector has proved its strength through the recent financial crisis, continuing to innovate and provide value to its customers and we need to keep on doing this ... It will also be of paramount importance to protect what mutuals stand for and ensure the government supports and recognises some of our initiatives, such as the corporate governance code [here: pdf] we have developed"
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