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OPTIMISING MEMBER ENGAGEMENT SHARING BEST PRACTICE AND OPPORTUNITIES
With growing pressure from regulators, politicians and from the press for Mutuals to demonstrate their commitment and fairness to their members, there is a real opportunity for AFM members to become more member focussed and implement more effective membership contact strategies - communicating the values of mutuality, building stronger member relationships, resulting in long term customer value and retention.
A working party has been established, consisting of a wide range of representation from both full and associate AFM members, including:
The working party’s key objective is to share and debate best practices and opportunities, with a primary aim to make Member engagement an integral part of their future culture and business objectives.
OVER 8,000,000 CURRENT MEMBERS – IGNORE THEM, AT OUR PERIL! The working party agreed that their members were their greatest assets - and essential to protect long term income and profi tability values.
Not only to satisfy the regulators, but from constant pressure from other external Financial Services competitors, communicating more frequently with members was viewed by the working party as highly recommended – specifi cally to:
• increase member satisfaction behaviour
• boost propensity to recommend
• encourage additional product and service purchasing
• maximise retention and reduce lapse attrition rates.
Putting members fi rst.
47%OF UK ADULTS, ARE CONSIDERING CHANGING THEIR FINANCIAL SERVICES PROVIDER, IN THE NEXT 12 MONTHS
2717 AFM Member engagement leaflet.indd 1 08/10/2014 17:41
BARRIERS AND MINDSETS NEED TO BE BROKEN DOWN The working party identifi ed that many AFM members are currently reluctant to implement member engagement strategies, stating high cost, IT restrictions, data issues, resource defi ciency, product limitations and restrictions:
MEMBERS WANT TO RECEIVE COMMUNICATIONS! From a research study, undertaken with over 250 members, by redtag, it’s clear that increased levels of engagement would be viewed positively by members
defi ciency, product limitations and restrictions:defi ciency, product limitations and restrictions:defi ciency, product limitations and restrictions:defi ciency, product limitations and restrictions:defi ciency, product limitations and restrictions:defi ciency, product limitations and restrictions:defi ciency, product limitations and restrictions:defi ciency, product limitations and restrictions:defi ciency, product limitations and restrictions:defi ciency, product limitations and restrictions:defi ciency, product limitations and restrictions:defi ciency, product limitations and restrictions:defi ciency, product limitations and restrictions:defi ciency, product limitations and restrictions:defi ciency, product limitations and restrictions:defi ciency, product limitations and restrictions:defi ciency, product limitations and restrictions:defi ciency, product limitations and restrictions:defi ciency, product limitations and restrictions:defi ciency, product limitations and restrictions:defi ciency, product limitations and restrictions:defi ciency, product limitations and restrictions:defi ciency, product limitations and restrictions:
MEMBERS WANT
“IT’S TOO EXPENSIVE TO TALK “IT’S TOO EXPENSIVE TO TALK “IT’S TOO EXPENSIVE TO TALK “IT’S TOO EXPENSIVE TO TALK “IT’S TOO EXPENSIVE TO TALK “IT’S TOO EXPENSIVE TO TALK “IT’S TOO EXPENSIVE TO TALK “IT’S TOO EXPENSIVE TO TALK “IT’S TOO EXPENSIVE TO TALK “IT’S TOO EXPENSIVE TO TALK “IT’S TOO EXPENSIVE TO TALK “IT’S TOO EXPENSIVE TO TALK “IT’S TOO EXPENSIVE TO TALK “IT’S TOO EXPENSIVE TO TALK “IT’S TOO EXPENSIVE TO TALK “IT’S TOO EXPENSIVE TO TALK “IT’S TOO EXPENSIVE TO TALK “IT’S TOO EXPENSIVE TO TALK “IT’S TOO EXPENSIVE TO TALK “IT’S TOO EXPENSIVE TO TALK “IT’S TOO EXPENSIVE TO TALK “IT’S TOO EXPENSIVE TO TALK TO OUR MEMBERS, BEYOND TO OUR MEMBERS, BEYOND TO OUR MEMBERS, BEYOND TO OUR MEMBERS, BEYOND TO OUR MEMBERS, BEYOND TO OUR MEMBERS, BEYOND TO OUR MEMBERS, BEYOND TO OUR MEMBERS, BEYOND TO OUR MEMBERS, BEYOND TO OUR MEMBERS, BEYOND TO OUR MEMBERS, BEYOND TO OUR MEMBERS, BEYOND TO OUR MEMBERS, BEYOND TO OUR MEMBERS, BEYOND TO OUR MEMBERS, BEYOND TO OUR MEMBERS, BEYOND TO OUR MEMBERS, BEYOND TO OUR MEMBERS, BEYOND TO OUR MEMBERS, BEYOND TO OUR MEMBERS, BEYOND THE AGM AND OTHER THE AGM AND OTHER THE AGM AND OTHER THE AGM AND OTHER THE AGM AND OTHER THE AGM AND OTHER THE AGM AND OTHER THE AGM AND OTHER THE AGM AND OTHER THE AGM AND OTHER THE AGM AND OTHER REGULATORY UPDATES REGULATORY UPDATES REGULATORY UPDATES REGULATORY UPDATES REGULATORY UPDATES REGULATORY UPDATES REGULATORY UPDATES REGULATORY UPDATES REGULATORY UPDATES REGULATORY UPDATES AND STATEMENTS”
AND LACK OF
RESOURCE RESTRICTS
OUR MARKETING
CAPABILITY”
AND STATEMENTS”AND STATEMENTS”AND STATEMENTS”
“WE HAVE OLD “WE HAVE OLD
LEGACY SYSTEMS, SO WE LEGACY SYSTEMS, SO WE LEGACY SYSTEMS, SO WE
DON’T TRUST OUR DATA DON’T TRUST OUR DATA
QUALITY, AND CONSEQUENTLY
QUALITY, AND CONSEQUENTLY
QUALITY, AND CONSEQUENTLY
QUALITY, AND CONSEQUENTLY
QUALITY, AND CONSEQUENTLY
QUALITY, AND CONSEQUENTLY
QUALITY, AND CONSEQUENTLY
DON’T COMMUNICATE OFTEN
DON’T COMMUNICATE OFTEN
WITH OUR MEMBERS”
“COMPLIANCE
AND LACK OF
RESOURCE RESTRICTS
DON’T COMMUNICATE OFTEN
WITH OUR MEMBERS”
“COMPLIANCE
AND LACK OF
“MORE COMMUNICATION “MORE COMMUNICATION “MORE COMMUNICATION COULD DE-STABILISE OUR MEMBERS, AND INCREASE
MEMBERS, AND INCREASE ATTRITION RISK”ATTRITION RISK”
75% 40% 60%
were happy to receive more communications from their Mutual provider
stated that their Mutual provider regularly engaged with them
were happy to receive between 4-6 communications per year, from their Mutual provider
BUILDING EFFECTIVE MEMBERSHIP ENGAGEMENT PROGRAMMESTo build a successful member contact engagement strategy, a number of key factors need consideration as part of development and execution of a more structured member engagement programme:
• Defi ning business objectives, both short and long term
• Evaluating and enhancing the current member journey touch points and experience
• Developing an integrated multi – channel communication platform
• Enriching your data insight and database capability
• Researching the members needs and aspirations
• Developing new products and services relevant to the audience
• Commitment to budget; resource and IT capability
• Regulatory requirements
To build a best practice engagement programme, the end to end member journey needs to be evaluated and potentially enhanced, to optimise the member experience – documented below is a journey route map, highlighting all the key touch points that will enable you to sense check your own current Member Engagement programme.
GETTING TO KNOW YOUR MEMBERS, AND THEIR NEEDS! Key to a successful membership engagement programme is to gather insight into the Membership base, in order to communicate and engage cost effectively – how well do you know your members?
What data is known about your members? What demographic profi ling has been actioned? Who are your most valuable members? Are there any particular trends with lapse or non renewal history? Is attrition an issue with a particular channel or product?
2717 AFM Member engagement leaflet.indd 2 08/10/2014 17:41
75% OF WORKING PARTY STATED
THE IMPORTANCE OF HAVING AN
EFFECTIVE WEBSITE
INSURANCE
BONDS
SAVINGS PENSIONSCASH PLANS
INHERITANCE PLANNING
INCOME-PROTECTIONHEALTHCARE
PROTECTIONWILL WRITING
FUNERAL PLANNING
Key to a successful membership engagement programme is also to be able to offer relevant products and services to meet your ever changing member lifestage and lifestyle needs.
What products do you currently promote?
• Do they cover all your members needs?
• Is there a product set defi ciency?
• Do you manufacture or outsource additional product developments?
• Cost, IT and resource implications?
ENQUIRY FULFILMENTFirst impressions are critical – how effi cient is your fulfi lment process? How quickly do you react to a new enquirer? Have you reviewed the ease of understanding of the sales material and completion of the application process?
POLICY DOCUMENTATIONDoes the documentation refl ect value in the eyes of the member? Are the policy benefi ts laid out simply for the purchaser to comprehend? Do you reiterate value and benefi ts of purchasing the product?material and completion of the application process?
THANK YOU PROCESSHow do you recognise loyalty for renewal or repeat purchase? Are you encouraging valued members to become strong advocates and reward recommendation?
WELCOME PROCESSDo you engage with new members in the fi rst few weeks/ months to reiterate brand and product values? How do you communicate – by telephony, digital or by paper? Are you using the opportunity to gather customer insight?
AFFINITY BUILDINGAre you investing in building an affi nity with your members, whether by newsletter, magazine, loyalty schemes, or product premium discounts – how relevant are they? When is the optimum time and method to contact the member?
MTA TRIGGERSCustomer and Claims Services should be the voice of your company – do they refl ect it? Is the quality of the scripting and the documentation despatched, user-friendly and professional? How quickly do you react to a request or complaint?
X-SELL, UP-SELL TRIGGERSAre you using the data and insight available to effectively communicate on a regular basis with your members? What channels are utilised? Are you using tactical and event triggers to drive communication activity?
EVENT DRIVEN TRIGGERSDo they refl ect value? Are you managing expectations about the value of their policy? Are you effectively answering questions? Are the statements well laid out and easy to understand and delivered when expected? Do AGM notifi cations drive optimum voting response?
REACTIVATION PROCESSDo you have a win-back/reactivation programme in place? How much effort is placed on reactivation? Are lapsed members evaluated and fed back into the acquisition activity?
RENEWALS, MATURITIES, EXPIRIESDoes the member feel valued suffi ciently to remain with you or reinvest with you? How much effort do you place on retention at pre/point/post renewal, maturity or expiry? What happens if the member does not renew or reinvest? Time and method to contact the member?
MULTI-CHANNEL DISTRIBUTION CAPABILITY Key to future success will be the capability of AFM Members to enhance distribution capability.
What channels are you using now? How effective are they? Does social media fi t into your Plans? Are you looking at new channels?
%
EFFECTIVE WEBSITE
<25% OF WORKING PARTY HAVE CURRENTLY EMBRACED
SOCIAL MEDIA
UNDERSTANDING YOUR MEMBERS FINANCIAL NEEDS
2717 AFM Member engagement leaflet.indd 3 08/10/2014 17:41
THANK YOUSEE YOU NEXT YEAR
BEST PRACTICE TO INCREASE AGM VOTES • Segment members and communicate to them accordingly
• Don’t treat them as one generic group
• Provide both electronic and postal response options
• Research members voting response motivational forces
• Increase the quality, content and professionalism of the actual communication
• Re-iterate brand and mutuality benefi ts
• Ensure the communication is user friendly and engaging
“FAMILY INVESTMENTS INDICATED THAT AROUND 50% OF THEIR VOTES WERE VIA ELECTRONIC MEDIA”
85%OF THE WORKING PARTY STATED THAT A CORE OBJECTIVE WAS TO INCREASE THE NUMBER OF AGM VOTES NEXT OVER THE NEXT FEW
YEARS
2013
: 4%
2010: 3%
2011:
3.5
%
2012: 3.6%
AGM NOTIFICATION: CORE POINTS IDENTIFIED TO SUPPORT DRIVING UP RESPONSE The AGM Notifi cation was viewed as the key ‘fl agship’ communication by all AFM members. Whilst the chart below highlights an increasing overall level of voting year on year, the working party identifi ed varying levels of overall voting.
Information from the AFM CORPORATE GOVERNANCE REPORT, 2014, highlights the overall low levels of voting by members. Just over 200,000 members voted at the AGM of their mutual insurer or friendly society in 2013, either in person or by proxy. This excluded the delegate-based friendly societies. The chart highlights a year on year increasing level of members voting, but the working party recognised the 4% current 2013 fi gure, is still low.
“WHO IS VOTING AND HOW MUCH INSIGHT DO YOU KNOW ABOUT THEM? IS IT THE SAME MEMBERS VOTING EACH YEAR? WHAT FEEDBACK DO YOU GATHER EACH YEAR FROM YOUR AGM NOTIFICATIONS?
AGM VOTES, 2010 - 2013
On average 96% of all members entitled to vote, are currently
not engaging, raising a number of questions:
“FAMILY INVESTMENTS
YEARSmembers voting, but the working party recognised the 4% current 2013 fi gure, is still low.members voting, but the working party recognised the 4% current 2013 fi gure, is still low.
MUCH INSIGHT DO YOU KNOW ABOUT THEM? IS IT THE SAME MEMBERS VOTING EACH YEAR?
“BRITISH FRIENDLY ACHIEVED
NEARLY A 10% VOTING
RESPONSE, COMPARED TO A
NUMBER OF AFM MEMBERS,
WHO MANAGED ONLY 1%”
This Member Engagement Fact Sheet has been compiled by redtag, an award winning integrated communications agency who specialise in supporting the Financial Services community. For more details, please contact Graeme McKenzie, Managing Director, on 01285 650477 or [email protected].
100 years of Reliable service to our members
Important information for members – please read
100 years of Reliable service to our member
100 years of Reliable service to our members
Your invitation to the
2013 Annual General Meeting
Dear Mr Sample,
I am pleased to invite you to attend the 2013 Annual General Meeting of Reliance Mutual
Insurance Society Limited. This will be held at 2:30pm at The Charing Cross Hotel, Strand,
London, WC2N 5HX on Thursday 23 May 2013. Formal notice including the list of resolutions
is attached along with a map showing the location of the venue.
How to have your say
The Board are keen to encourage you to attend and vote on the resolutions but if you are
unable to attend you can still have your say by voting online or by completing the enclosed
Proxy Voting Form and returning it to our vote scrutineer, Computershare, using the reply-paid
envelope provided. Our scrutineer must receive the Proxy Voting Form by no later than 2:30pm
on 21 May 2013. Please see the Proxy Voting Form for information on how to complete and
return it. The most common practice is to appoint the Chairman of the meeting as your proxy.
If you attend the meeting, please bring the attached attendance card with you.
The directors consider that all the resolutions to be put to the AGM are in the best interests
of the Society and its members as a whole. The Board will be voting in favour of them and
unanimously recommends that you do so as well.
Results of the AGM will be published on the members’ section of the Society’s website
www.reliancemutual.co.uk. The website also includes a statement of our member relations
strategy; contact details; downloadable versions of our Annual Report and Statement of
Accounts; and an area where you can request further information or provide feedback.
Continuing our journey
Following the overwhelming support for last year’s vote on the way the Society is run, the next
leg of our journey - to expand by bringing in new members - is underway. A fi ve-year strategy
is being developed with the aim of growing our membership through trust in our life insurance
products and services. We are in the process of assessing what insurance products customers
need - and can relate to - and I hope to be able to share more about progress at the AGM.
Mutuality – we’re in this together
I would like to take this opportunity to congratulate your Chief Executive, Mark Goodale,
on his recent appointment as Chairman of the Association of Financial Mutuals. Upon his
appointment, Mark explained his view that “the media spotlight has regularly focused on the
failings of some of our largest fi nancial PLCs and there is a growing consensus that big business
needs to operate more transparently and responsibly to rebuild consumer trust. Continued overleaf
Mr Sample
Sample Street
Sample Street
Sample Street
Sample Town
Sample County
AB1 2CD
Annual General Meeting 2013
Member:
Mr A B Sample
AGM Reference:
XX/99999999
Policy No:
XX/9999999999
Date: April 2013
Please reply by: 21 May 2013
Why we are writing?
To invite you to attend our
Annual General Meeting (AGM)
To ask you to vote on the
AGM Resolutions
Included in this pack
Notice of the AGM
Information on the AGM venue
Attendance Card and Voting Card
Your personalised voting form
Directors’ biographies (all are
up for re-election)
Enclosed
Annual Report and Statement of
Accounts for the year ended
31 December 2012
Reply-paid envelope
What to do next
If you are unable to attend the AGM,
please vote online or complete the
attached Proxy Voting Form and
return it to Reliance Mutual in the
reply-paid envelope. They must
receive it by no later than 2:30pm
on 21 May 2013.
01892 773 385Lines open 9am – 5pm Monday to Friday.
Calls may be recorded or monitored.
For more information, call
The Reliance Mutual Group includes Reliance Mutual Insurance Society Limited – Registered No. 491580, Reliance Unit Managers Limited – Registered No. 724451 and Reliance
Administration Services Limited – Registered No. 3710407. All are registered in England at Reliance House, 6 Vale Avenue, Tunbridge Wells, Kent, TN1 1RG and authorised and
regulated by the Financial Services Authority.
100 years of Reliable service to our members
100 years of Reliable service to our members
100 years of Reliable service to our member
Proxy Voting Form
Personal Voting Form for:
E 1 3 7 10 1
R LM _ VOT
Have your say 2013
Mr Sample
Sample Street
Sample Street
Sample Street
Sample Town
Sample County
AB1 2CD
Online Vote
Visit www.reliancemutual.co.uk You will be asked to enter your Voter Reference Number
(VRN) and PIN and agree to certain terms and conditions.
Control No. 911661
VRN: X9999999999
PIN: 99999
VRN: XXXXXXXXXXX
How to Vote
1 ONLINE Votes may be cast by visiting www.reliancemutual.co.uk using your Voter Reference Number (VRN) and Personal
Identifi cation Number (PIN) shown below.
2 BY POST If you select ‘Postal Vote by Proxy’ below, you can appoint the Chairman of the meeting or an alternative named proxy to vote
on your behalf at the AGM. This proxy will follow your voting instructions or in the absence of instructions make their own voting decisions.
3 IN PERSON Members are invited to attend the AGM in person if they wish, to cast their votes – details of the time and venue are
shown on the attached Notice of the Annual General Meeting of Reliance Mutual Insurance Society Limited.
Postal Vote by Proxy (Please return this whole Proxy Voting Form)
I hereby appoint the Chairman of the meeting OR the following proxy to vote for me and on my behalf at the Annual General Meeting of the
Society to be held on 23 May 2013, and at every adjournment thereof.
Once you have completed, signed and dated this form, please post it to Reliance Mutual in the reply-paid envelope provided. You do not need
to complete and send this form to Reliance Mutual if you plan to attend the meeting in person. Kindly note: This form is issued only to the addressee and is
specifi c to the customer reference printed hereon. This personalised form is not transferable. Reliance Mutual and Computershare Investor Services Plc accept no liability for any instruction.
If the form is returned without an indication as to how the
proxy shall vote, the proxy shall exercise their discretion.
THIS CANNOT BE YOUR NAME
Leave blank if appointing
the Chairman
Name of proxy
Declaration
I instruct my proxy as indicated on this form. Unless otherwise instructed the proxy may vote as he or she sees fi t or abstain in relation to any business of the meeting.
Your signature:
SIGN HERE Date:
(DD/MM/YEAR)
Resolutions
QUICK VOTE OPTION: To vote in favour of all 11 resolutions place an ‘X’ here.
Alternatively, you can vote for each resolution individually, by placing an X in the appropriate box.
For Against Vote withheld
If you are attending the AGM, please bring this Voting Card with you.
Important information
Enclosed in this pack is a letter from the Chairman of Reliance Mutual,
together with a Proxy Voting Form, a Voting Card, a reply-paid envelope and a
copy of the Annual Report and Statement of Accounts of Reliance Mutual
as at 31 December 2012.
Members may vote in person at the AGM or may appoint another
person, as their proxy, to attend, speak and vote in their place.
Completed Proxy Voting Forms should be returned as soon
as possible and in any event so as to be received no later than
2:30pm on 21 May 2013 by Reliance Mutual at The Pavilions,
Bridgwater Road, Bristol BS99 6BQ.
For help or information about how to vote,
completing your Proxy Voting Form, Voting
Online or anything else, please call our
Member Services Team on:
01892 773 385
Lines open 9am – 5pm Mon to Fri. Calls may be recorded.
Voting Card
There is no need to complete this card unless you attend
the AGM and the voting method calls for its use.
The AGM will be held in the Regency Room
at The Charing Cross Hotel, Strand, London,
WC2N 5HX on 23 May 2013.
Registration will start at 2:00pm.
The venue for the AGM
Please indicate with an X in the appropriate boxes below how you wish your
votes to be cast.
Your signature:
SIGN HERE
Enclosed in this pack is a letter from the Chairman of Reliance Mutual,
together with a Proxy Voting Form, a Voting Card, a reply-paid envelope and a
copy of the Annual Report and Statement of Accounts of Reliance Mutual
Members may vote in person at the AGM or may appoint another
Enclosed in this pack is a letter from the Chairman of Reliance Mutual,
together with a Proxy Voting Form, a Voting Card, a reply-paid envelope and a
copy of the Annual Report and Statement of Accounts of Reliance Mutual
Member: Mr A B Sample
AGM Reference: XX/999999999999999999
Policy No: XX/999999999
NB: Only one of the policies that you may hold is shown.
VRN: X9999999999
For AgainstVote
withheld
1. To approve the Directors’ Report and Statement of Accounts for the year ended 31 December 2012
and the Auditors’ Report thereon.
2. To approve the Directors’ Remuneration Report for the year ended 31 December 2012.
3. To re-elect Seamus Creedon.
4. To re-elect Mark Goodale.
5. To re-elect Wai Au.
6. To re-elect Jim Randall.
7. To re-elect Barry Sanjana.
8. To re-elect Nigel Sherry.
9. To elect Chris Lerpiniere.
10. To elect Cameron Mills.
11. To re-appoint PricewaterhouseCoopers LLP as auditors to the Society for 2013.
For AgainstVote
withheld
1. To approve the Directors’ Report and Statement of Accounts
for the year ended 31 December 2012 and the Auditors’ Report
thereon.
2. To approve the Directors’ Remuneration Report for the year
ended 31 December 2012.
3. To re-elect Seamus Creedon.
4. To re-elect Mark Goodale.
5. To re-elect Wai Au.
6. To re-elect Jim Randall.
7. To re-elect Barry Sanjana.
8. To re-elect Nigel Sherry.
9. To elect Chris Lerpiniere.
10. To elect Cameron Mills.
11. To re-appoint PricewaterhouseCoopers LLP as auditors to the
Society for 2013.
LEICESTER SQUARE
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NORTHUMBERLAND AVE
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No. 10
Important information for members – please read
The directors consider that all the resolutions to be put to the AGM are in the best interests
of the Society and its members as a whole. The Board will be voting in favour of them and
unanimously recommends that you do so as well.
Results of the AGM will be published on the members’ section of the Society’s website
www.reliancemutual.co.uk. The website also includes a statement of our member relations
strategy; contact details; downloadable versions of our Annual Report and Statement of
Accounts; and an area where you can request further information or provide feedback.
Continuing our journey
Following the overwhelming support for last year’s vote on the way the Society is run, the next
If you are unable to attend the AGM,
please vote online or complete the
attached Proxy Voting Form and
return it to Reliance Mutual in the
reply-paid envelope. They must
Important information for members – please readImportant information for members – please readImportant information for members – please read
Accounts; and an area where you can request further information or provide feedback
Continuing our journey
Following the overwhelming support for last year’s vote on the way the Society is run, the next
leg of our journey - to expand by bringing in new members - is underway. A fi ve-year strategy
is being developed with the aim of growing our membership through trust in our life insurance
products and services. We are in the process of assessing what insurance products customers
need - and can relate to - and I hope to be able to share more about progress at the AGM.
Mutuality – we’re in this together
I would like to take this opportunity to congratulate your Chief Executive, Mark Goodale,
on his recent appointment as Chairman of the Association of Financial Mutuals. Upon his
appointment, Mark explained his view that “the media spotlight has regularly focused on the
return it to Reliance Mutual in the
reply-paid envelope. They must
receive it by no later than 2:30pm
on 21 May 2013.
01892 773 385Lines open 9am – 5pm Monday to Friday.
Calls may be recorded or monitored.
For more information, call
on his recent appointment as Chairman of the Association of Financial Mutuals. Upon his
appointment, Mark explained his view that “the media spotlight has regularly focused on the
failings of some of our largest fi nancial PLCs and there is a growing consensus that big business
Continued overleaf
The Reliance Mutual Group includes Reliance Mutual Insurance Society Limited – Registered No. 491580, Reliance Unit Managers Limited – Registered No. 724451 and Reliance
Important Explanatory Notes To be effective, all proxy appointments must be lodged with: Reliance Mutual at their scrutineer - Computershare Investor Services Plc, The Pavilions, Bridgwater Road, Bristol BS99 6BQ – by 21 May 2013 at 2:30pm. • A member entitled to attend, speak and vote is entitled to appoint a proxy to attend, speak and vote instead of him or her.
• The proxy need not be a member of the Society. To appoint as your proxy a person other than the Chairman of the meeting, insert
their full name in the box. If you sign and return this proxy form with no name inserted in the box, the Chairman of the meeting
will be deemed to be your proxy. Where you appoint as your proxy someone other than the Chairman, you are responsible for
ensuring that they attend the meeting and are aware of your voting intentions. If you wish your proxy to make any comments on
your behalf, you will need to appoint someone other than the Chairman and give them the relevant instructions directly.
• A vote withheld is not a vote in law and will not be counted in the proportion of votes for or against.
• Where a policy is held jointly with someone else, this letter has been sent only to the fi rst named person on the register of
members. Either joint policyholder may vote but if more than one joint policyholder votes, only the vote of the fi rst named voting
policyholder will be counted.• Any alteration to this proxy form should be initialled. If you submit more than one valid proxy appointment, the appointment
received last before the latest time for the receipt of proxies will take precedence.• If you wish to appoint someone other than the Chairman of the Meeting, strike out the words “The Chairman of the Meeting” at the
top of the ‘Postal Vote by Proxy’ box and insert the name of the proxy you wish to vote on your behalf.
• Please indicate in the quick vote box or in the space provided alongside each resolution how you wish your vote(s) to be cast.
Without such specifi c directions, the proxy will vote or abstain at his/her discretion. • Sign the Proxy Voting Form in the box where it says “Your signature” and date the form in the box entitled “Date”.
• The appointment of a proxy does not preclude you from attending the meeting and voting in person. If you have appointed a proxy
and attend the meeting in person, your proxy appointment will automatically be terminated. • Addresses (including electronic addresses) in this document are included strictly for the purposes provided and not for any
other purposes.• It is confi rmed that, following performance evaluation, each of the directors seeking election or re-election continues to be effective
and committed to their role.
Reliance Mutual Insurance Society Limited, Registered Offi ce: 6 Vale Avenue, Tunbridge Wells, Kent TN1 1RG, Registered No. 491580.
Don’t Forget: Voting online or by post closes at 2:30pm on 21 May 2013
For help or information about how to vote, completing your Proxy Voting Form, Voting Online or anything else, please call our Member Services Team on:
01892 773 385Lines open 9am – 5pm Mon to Fri. Calls may be recorded.
Have your say!Vote NowVoting online or by post closes at 2:30pm on 21 May 2013
If you are attending the AGM, please bring this Attendance Card with you.
Notice of the Annual General Meeting of Reliance Mutual Insurance Society Limited
See ‘How to Vote’
Attendance Card
The Company Secretary of Reliance Mutual Insurance Society Limited invites you to attend the Annual General Meeting being held on 23 May 2013 to vote on the ordinary resolutions.The AGM is to be held in the Regency Room at The Charing Cross Hotel, Strand, London, WC2N 5HX.
NOTICE is HEREBY GIVEN that the Annual General Meeting of the members of Reliance Mutual Insurance Society Limited will be held at The
Charing Cross Hotel, Strand, London, WC2N 5HX on Thursday 23 May 2013 at 2:30pm. The business of the AGM will be to consider and, if
thought fi t, to pass the following resolutions which are proposed as ordinary resolutions: Ordinary resolutions 1. To approve the Directors’ Report and Statement of Accounts for the year ended 31 December 2012 and the Auditors’ Report thereon.
2. To approve, by way of advisory vote, the Directors’ Remuneration Report for the year ended 31 December 2012.
3. To re-elect Seamus Creedon, who seeks annual re-election in accordance with the UK Corporate Governance Code.
4. To re-elect Mark Goodale, who seeks annual re-election in accordance with the UK Corporate Governance Code.
5. To re-elect Wai Au, who seeks annual re-election in accordance with the UK Corporate Governance Code.
6. To re-elect Jim Randall, who seeks annual re-election in accordance with the UK Corporate Governance Code.
7. To re-elect Barry Sanjana, who seeks annual re-election in accordance with the UK Corporate Governance Code.
8. To re-elect Nigel Sherry, who seeks annual re-election in accordance with the UK Corporate Governance Code.
9. To elect Chris Lerpiniere, who was appointed since the last Annual General Meeting.10. To elect Cameron Mills, who was appointed since the last Annual General Meeting.11. To re-appoint PricewaterhouseCoopers LLP as auditors to the Society for 2013. By order of the Board
Roger EastwoodCompany SecretaryReliance Mutual Insurance Society LimitedPlease note: Only Members entitled to vote (or their duly appointed proxy) may attend, speak and vote at the meeting. To be entitled to vote at the AGM on 23 May 2013, a Member must
hold an insurance, assurance or annuity policy with the Society on or for his own life, or on or for the life of another person and in accordance with article 15.3 of the Articles of Association,
have been a Member twelve calendar months previous to the holding of such meeting at which they claim to vote and the premium under the policy is not outstanding for more than six
weeks. Any policy made paid up with reduced benefi ts will be treated as having premiums more than six weeks in arrears. The form of proxy must reach Reliance Mutual at least 48 hours
before the meeting. It is confi rmed that, following performance evaluation, each of the directors seeking election or re-election continues to be effective and committed to their role.
Mr SampleSample StreetSample StreetSample StreetSample TownSample CountyAB1 2CD
VRN: X9999999999
X9999999999
“During this time, mutuals have quietly continued to work closely with their customers to provide a better experience of fi nancial
services. This is an important time for fi nancial mutuals that look after the needs of 20 million people and offer a real alternative to the
PLCs. With the support of government and with appropriate regulation, the fi nancial mutual sector can do so much to restore public
confi dence in our industry”. It is worth me adding that, as a mutual, Reliance has no shareholders to pay dividends to, and so is free to
concentrate entirely on delivering products and services that best meet the needs of its customers. Last year we asked you to vote on the way the Society is run. This year, to improve the accountability of the Board to its members, we
have adopted best practice so that each director is expected to stand for re-election annually. To continue this approach of providing
a strong say in how we do things, we are keeping a close eye on how the government brings about binding votes on directors’ pay for
listed companies. Even though the legislation is not expected to apply to mutuals, our intention is voluntarily to abide by the approach
expected to be set out in the legislation so far as is practicable – so that you have the opportunity to see and have comfort in our
approach to boardroom pay. I will let you know more as developments occur.We really do want to hear what you have to sayWhile there is no need to attend the AGM if you do not want to, this is your chance to come along and let us know what you think
about what we are doing. So, if you have something to add about where we’ve come from or where we’re going, or a question to ask,
please do come along. It is a great opportunity to meet your Board, and also fellow members, and make sure your voice is heard.
If you need help or further information about the AGM and how to have your say, please call 01892 773 385. Lines are open 9am-5pm
Monday to Friday. Alternatively, you can also email us at [email protected] or sign up to the members’ section of our website.
I do hope you will be able to come to the AGM and I look forward to meeting with as many members as possible on the day. Yours sincerely
Seamus Creedon Chairman
Director Biographies
For more information call our Member Services Team on 01892 773 385
Lines open 9am – 5pm Monday to Friday. Calls may be recorded or monitored.
The Venue for the 2013 Annual General Meeting
The AGM will be held in the Regency Room at The Charing Cross Hotel, Strand, London, WC2N 5HX on 23 May 2013. Registration will start at 2:00pm.
Member: Mr A B Sample Date: April 2013AGM Reference: XX/999999999999999999Policy No: XX/999999999NB: Only one of the policies that you may hold is shown.
Mr Seamus Creedon FSAI FIA CERA MAAA (age 61)Chairman (appointed 11/03/2008).Seamus is a qualifi ed actuary. He is a former partner at KPMG where he led the UK actuarial practice from 2000 to 2003 and was the deputy leader globally. Previously he was Chief Executive of Bank of Ireland’s life assurance business and also at Abbey Life Ireland. He is a former member of the council of the Institute of Actuaries and is a member of the insurance and reinsurance stakeholder group of the European Insurance and Occupational Pensions Authority. He is also a non-executive director of Baillie Gifford Life, MetLife and (in Ireland) RGA International Reinsurance and VHI Healthcare.
Mr Mark Goodale BA FIA (age 57)Chief Executive (appointed 01/07/2006). Mark is a qualifi ed actuary. Prior to joining the Society he was a director and the General Manager of Ecclesiastical Life Limited and prior to that, Chief Financial Offi cer of Manulife (UK). Mark is Chairman of the Association of Financial Mutuals having served on that Board for over fi ve years.Mr Nigel Sherry ACII (age 55)Non-executive Director (appointed 24/03/2009) and Chair of the Fair Member Benefi ts Committee. Nigel has almost 35 years’ experience in the fi nancial services industry. He held senior positions at Pearl Assurance, NPI, Prudential UK and most recently as Chief Operating Offi cer and acting Chief Executive of MGM Assurance. In addition to being a non-executive director, Nigel undertakes short-term interim management assignments in the Financial Services sector.
Ms Wai Au MSc FCMA (age 56)Non-executive Director (appointed 28/10/2009) and Chair of the Audit and Risk Committee.Wai currently has a portfolio of senior advisory roles including Accenture Financial Services UK and China Construction Bank UK. Wai is a non-executive director of Prudential Assurance and QBE and a director of The City UK. Prior to these roles, she was Chief Executive of corporate pensions provider Tactica Insurance and before that held several senior executive posts at Barclays – culminating as Director of Global Servicing. Wai has held the role of UK Finance Director (Life and General) for Royal & Sun Alliance and also UK Finance and Actuarial Director of Hill Samuel Investment Services Group.Mr Jim Randall BSc FIA (age 63)Non-executive Director (appointed 01/07/2004), Senior Independent Director and Chair of the Remuneration Committee.
Jim Randall is a qualifi ed actuary who spent 25 years in the life and health reinsurance industry with Munich Re, Liberty Re and General Re. He is Chairman and a non-executive director of the tele-underwriting company MorganAsh.Mr Barry Sanjana MA FCII (age 57)Non-executive Director (appointed 01/07/2004) and Chair of the Investment Committee.
Barry Sanjana spent 25 years working for the investment management subsidiaries of Royal Insurance, Commercial Union, CGU and Friends Provident. He was Chief Investment Offi cer in both the CGU and Friends Provident Group. He is also a non-executive director of Police Mutual and is the Chair of their Investment Committee.
Mr Chris Lerpiniere BSc ACII (age 54)Executive Director (appointed 28/09/2012). Chris is a Chartered Insurer. He joined the Society in April 2008 and, as Head of Operations, he is responsible for the service our clients receive and also for our information technology. Prior to joining Reliance Mutual, he held senior management positions at Fidelity and GAN Life and Pensions. Chris was appointed as a director in September, because the board had concluded that governance and organisation resilience would be enhanced by making additional executive appointments.Mr Cameron Mills FFA (age 49)Executive Director (appointed 28/09/2012). Cameron joined the Society in September 2009. As Chief Actuary he is responsible for all the Society’s actuarial functions. Prior to Reliance Mutual, he was Interim Chief Actuary at Baroda L&G Life Insurance Co Ltd supporting Legal & General in their joint start-up in Mumbai. He has also served three years at Resolution Life and 21 years at Standard Life. Cameron was appointed as a director in September, because the board had concluded that governance and organisation resilience would be enhanced by making additional executive appointments.
7. To re-elect Barry Sanjana, who seeks annual re-election in accordance with the UK Corporate Governance Code.
8. To re-elect Nigel Sherry, who seeks annual re-election in accordance with the UK Corporate Governance Code.
Have your say!Vote NowVoting online or by post closes at 2:30pm on 21 May 2013
LEICESTER SQUARE
TRAFALGARSQUARE
WH
ITCO
MB ST
NORTHUMBERLAND AVE
NATIONAL GALLERY
ST JAMES’S PARK
THE MALL
STRAND
BOW
ST
COVENT GARDEN
CHARING CROSS
EMBANKMENT
ST M
ART
IN’S
LA
NE
CH
AR
ING
CR
OSS
RO
AD
VIC
TO
RIA
EM
BA
NK
ME
NT
RIV
ER
TH
AM
ES
WHITEHALL PL
WH
ITE
HA
LL
HO
RSE
GU
AR
DS
No. 10
Please come along!
Important Explanatory Notes To be effective, all proxy appointments must be lodged with:
Reliance Mutual at their scrutineer - Computershare Investor Services Plc,
The Pavilions, Bridgwater Road, Bristol BS99 6BQ – by 21 May 2013 at 2:30pm.
• A member entitled to attend, speak and vote is entitled to appoint a proxy to attend, speak and vote instead of him or her.
• The proxy need not be a member of the Society. To appoint as your proxy a person other than the Chairman of the meeting, insert
their full name in the box. If you sign and return this proxy form with no name inserted in the box, the Chairman of the meeting
will be deemed to be your proxy. Where you appoint as your proxy someone other than the Chairman, you are responsible for
ensuring that they attend the meeting and are aware of your voting intentions. If you wish your proxy to make any comments on
your behalf, you will need to appoint someone other than the Chairman and give them the relevant instructions directly.
• A vote withheld is not a vote in law and will not be counted in the proportion of votes for or against.
• Where a policy is held jointly with someone else, this letter has been sent only to the fi rst named person on the register of
members. Either joint policyholder may vote but if more than one joint policyholder votes, only the vote of the fi rst named voting
policyholder will be counted.• Any alteration to this proxy form should be initialled. If you submit more than one valid proxy appointment, the appointment
received last before the latest time for the receipt of proxies will take precedence.
• If you wish to appoint someone other than the Chairman of the Meeting, strike out the words “The Chairman of the Meeting” at the
top of the ‘Postal Vote by Proxy’ box and insert the name of the proxy you wish to vote on your behalf.
• Please indicate in the quick vote box or in the space provided alongside each resolution how you wish your vote(s) to be cast.
Without such specifi c directions, the proxy will vote or abstain at his/her discretion.
• Sign the Proxy Voting Form in the box where it says “Your signature” and date the form in the box entitled “Date”.
• The appointment of a proxy does not preclude you from attending the meeting and voting in person. If you have appointed a proxy
and attend the meeting in person, your proxy appointment will automatically be terminated.
• Addresses (including electronic addresses) in this document are included strictly for the purposes provided and not for any
other purposes.• It is confi rmed that, following performance evaluation, each of the directors seeking election or re-election continues to be effective
and committed to their role.Reliance Mutual Insurance Society Limited, Registered Offi ce: 6 Vale Avenue, Tunbridge Wells, Kent TN1 1RG, Registered No. 491580.
Don’t Forget: Voting online or by post closes at 2:30pm on 21 May 2013
For help or information about how to vote, completing your Proxy
Voting Form, Voting Online or anything else, please call our Member
Services Team on:
01892 773 385Lines open 9am – 5pm Mon to Fri. Calls may be recorded.
Have your say!Vote NowVoting online or by post closes
at 2:30pm on 21 May 2013
If you are attending the AGM, please bring this Attendance Card with you.
Notice of the Annual General Meeting of
Reliance Mutual Insurance Society Limited
See ‘How to Vote’
Attendance Card
The Company Secretary of Reliance Mutual Insurance Society
Limited invites you to attend the Annual General Meeting being
held on 23 May 2013 to vote on the ordinary resolutions.
The AGM is to be held in the Regency Room at The Charing
Cross Hotel, Strand, London, WC2N 5HX.
NOTICE is HEREBY GIVEN that the Annual General Meeting of the members of Reliance Mutual Insurance Society Limited will be held at The
Charing Cross Hotel, Strand, London, WC2N 5HX on Thursday 23 May 2013 at 2:30pm. The business of the AGM will be to consider and, if
thought fi t, to pass the following resolutions which are proposed as ordinary resolutions:
Ordinary resolutions 1. To approve the Directors’ Report and Statement of Accounts for the year ended 31 December 2012 and the Auditors’ Report thereon.
2. To approve, by way of advisory vote, the Directors’ Remuneration Report for the year ended 31 December 2012.
3. To re-elect Seamus Creedon, who seeks annual re-election in accordance with the UK Corporate Governance Code.
4. To re-elect Mark Goodale, who seeks annual re-election in accordance with the UK Corporate Governance Code.
5. To re-elect Wai Au, who seeks annual re-election in accordance with the UK Corporate Governance Code.
6. To re-elect Jim Randall, who seeks annual re-election in accordance with the UK Corporate Governance Code.
7. To re-elect Barry Sanjana, who seeks annual re-election in accordance with the UK Corporate Governance Code.
8. To re-elect Nigel Sherry, who seeks annual re-election in accordance with the UK Corporate Governance Code.
9. To elect Chris Lerpiniere, who was appointed since the last Annual General Meeting.
10. To elect Cameron Mills, who was appointed since the last Annual General Meeting.
11. To re-appoint PricewaterhouseCoopers LLP as auditors to the Society for 2013.
By order of the Board
Roger EastwoodCompany SecretaryReliance Mutual Insurance Society LimitedPlease note: Only Members entitled to vote (or their duly appointed proxy) may attend, speak and vote at the meeting. To be entitled to vote at the AGM on 23 May 2013, a Member must
hold an insurance, assurance or annuity policy with the Society on or for his own life, or on or for the life of another person and in accordance with article 15.3 of the Articles of Association,
have been a Member twelve calendar months previous to the holding of such meeting at which they claim to vote and the premium under the policy is not outstanding for more than six
weeks. Any policy made paid up with reduced benefi ts will be treated as having premiums more than six weeks in arrears. The form of proxy must reach Reliance Mutual at least 48 hours
before the meeting. It is confi rmed that, following performance evaluation, each of the directors seeking election or re-election continues to be effective and committed to their role.
Mr SampleSample StreetSample StreetSample StreetSample TownSample CountyAB1 2CD
VRN: X9999999999
X9999999999
“During this time, mutuals have quietly continued to work closely with their customers to provide a better experience of fi nancial
services. This is an important time for fi nancial mutuals that look after the needs of 20 million people and offer a real alternative to the
PLCs. With the support of government and with appropriate regulation, the fi nancial mutual sector can do so much to restore public
confi dence in our industry”. It is worth me adding that, as a mutual, Reliance has no shareholders to pay dividends to, and so is free to
concentrate entirely on delivering products and services that best meet the needs of its customers.
Last year we asked you to vote on the way the Society is run. This year, to improve the accountability of the Board to its members, we
have adopted best practice so that each director is expected to stand for re-election annually. To continue this approach of providing
a strong say in how we do things, we are keeping a close eye on how the government brings about binding votes on directors’ pay for
listed companies. Even though the legislation is not expected to apply to mutuals, our intention is voluntarily to abide by the approach
expected to be set out in the legislation so far as is practicable – so that you have the opportunity to see and have comfort in our
approach to boardroom pay. I will let you know more as developments occur.
We really do want to hear what you have to say
While there is no need to attend the AGM if you do not want to, this is your chance to come along and let us know what you think
about what we are doing. So, if you have something to add about where we’ve come from or where we’re going, or a question to ask,
please do come along. It is a great opportunity to meet your Board, and also fellow members, and make sure your voice is heard.
If you need help or further information about the AGM and how to have your say, please call 01892 773 385. Lines are open 9am-5pm
Monday to Friday. Alternatively, you can also email us at [email protected] or sign up to the members’ section of our website.
I do hope you will be able to come to the AGM and I look forward to meeting with as many members as possible on the day.
Yours sincerely
Seamus Creedon Chairman
Director Biographies
For more information call our Member Services Team on
01892 773 385Lines open 9am – 5pm Monday to Friday. Calls may be recorded or monitored.
The Venue for the 2013 Annual
General MeetingThe AGM will be held in the Regency Room
at The Charing Cross Hotel, Strand, London,
WC2N 5HX on 23 May 2013. Registration will start at 2:00pm.
Member: Mr A B Sample
Date: April 2013
AGM Reference: XX/999999999999999999Policy No: XX/999999999NB: Only one of the policies that you may hold is shown.
Mr Seamus Creedon FSAI FIA CERA MAAA (age 61)Chairman (appointed 11/03/2008).Seamus is a qualifi ed actuary. He is a former partner
at KPMG where he led the UK actuarial practice
from 2000 to 2003 and was the deputy leader
globally. Previously he was Chief Executive of Bank
of Ireland’s life assurance business and also at Abbey
Life Ireland. He is a former member of the council
of the Institute of Actuaries and is a member of the
insurance and reinsurance stakeholder group of
the European Insurance and Occupational Pensions
Authority. He is also a non-executive director of
Baillie Gifford Life, MetLife and (in Ireland) RGA
International Reinsurance and VHI Healthcare.Mr Mark Goodale BA FIA (age 57)
Chief Executive (appointed 01/07/2006). Mark is a qualifi ed actuary. Prior to joining the
Society he was a director and the General Manager
of Ecclesiastical Life Limited and prior to that, Chief
Financial Offi cer of Manulife (UK). Mark is Chairman
of the Association of Financial Mutuals having served
on that Board for over fi ve years.Mr Nigel Sherry ACII (age 55)Non-executive Director (appointed 24/03/2009)
and Chair of the Fair Member Benefi ts Committee.
Nigel has almost 35 years’ experience in the fi nancial
services industry. He held senior positions at Pearl
Assurance, NPI, Prudential UK and most recently as
Chief Operating Offi cer and acting Chief Executive
of MGM Assurance. In addition to being a non-
executive director, Nigel undertakes short-term
interim management assignments in the Financial
Services sector.
Ms Wai Au MSc FCMA (age 56)
Non-executive Director (appointed 28/10/2009)
and Chair of the Audit and Risk Committee.Wai currently has a portfolio of senior advisory roles
including Accenture Financial Services UK and China
Construction Bank UK. Wai is a non-executive
director of Prudential Assurance and QBE and a
director of The City UK. Prior to these roles, she
was Chief Executive of corporate pensions provider
Tactica Insurance and before that held several senior
executive posts at Barclays – culminating as Director
of Global Servicing. Wai has held the role of UK
Finance Director (Life and General) for Royal & Sun
Alliance and also UK Finance and Actuarial Director
of Hill Samuel Investment Services Group.Mr Jim Randall BSc FIA (age 63)
Non-executive Director (appointed 01/07/2004),
Senior Independent Director and Chair of the
Remuneration Committee.Jim Randall is a qualifi ed actuary who spent 25
years in the life and health reinsurance industry
with Munich Re, Liberty Re and General Re. He is
Chairman and a non-executive director of the tele-
underwriting company MorganAsh.Mr Barry Sanjana MA FCII (age 57)
Non-executive Director (appointed 01/07/2004)
and Chair of the Investment Committee.Barry Sanjana spent 25 years working for the
investment management subsidiaries of Royal
Insurance, Commercial Union, CGU and Friends
Provident. He was Chief Investment Offi cer in
both the CGU and Friends Provident Group. He
is also a non-executive director of Police Mutual
and is the Chair of their Investment Committee.
Mr Chris Lerpiniere BSc ACII (age 54)Executive Director (appointed 28/09/2012). Chris is a Chartered Insurer. He joined the Society
in April 2008 and, as Head of Operations, he is
responsible for the service our clients receive and
also for our information technology. Prior to joining
Reliance Mutual, he held senior management
positions at Fidelity and GAN Life and Pensions.
Chris was appointed as a director in September,
because the board had concluded that governance
and organisation resilience would be enhanced by
making additional executive appointments.Mr Cameron Mills FFA (age 49)
Executive Director (appointed 28/09/2012). Cameron joined the Society in September 2009. As
Chief Actuary he is responsible for all the Society’s
actuarial functions. Prior to Reliance Mutual, he was
Interim Chief Actuary at Baroda L&G Life Insurance
Co Ltd supporting Legal & General in their joint
start-up in Mumbai. He has also served three years
at Resolution Life and 21 years at Standard Life.
Cameron was appointed as a director in September,
because the board had concluded that governance
and organisation resilience would be enhanced by
making additional executive appointments.
7. To re-elect Barry Sanjana, who seeks annual re-election in accordance with the UK Corporate Governance Code.
8. To re-elect Nigel Sherry, who seeks annual re-election in accordance with the UK Corporate Governance Code.
Have your say!Vote NowVoting online or by post closes
at 2:30pm on 21 May 2013
LEICESTER SQUARE
TRAFALGARSQUARE
WH
ITC
OM
B ST
NORTHUMBERLAND AVE
NATIONAL GALLERY
ST JAMES’S PARK
THE MALL
STRAND
BO
W ST
COVENT GARDEN
CHARING CROSS
EMBANKMENT
ST M
ARTI
N’S
LA
NE
CH
AR
ING
CR
OSS R
OA
D
VIC
TO
RIA
EM
BA
NK
ME
NT
RIV
ER
TH
AM
ESWHITEHALL PL
WH
ITE
HA
LL
HO
RSE
GU
AR
DS
No. 10
Please come along!
Important Explanatory Notes
To be effective, all proxy appointments must be lodged with:
Reliance Mutual at their scrutineer - Computershare Investor Services Plc,
The Pavilions, Bridgwater Road, Bristol BS99 6BQ – by 21 May 2013 at 2:30pm.
• A member entitled to attend, speak and vote is entitled to appoint a proxy to attend, speak and vote instead of him or her.
• The proxy need not be a member of the Society. To appoint as your proxy a person other than the Chairman of the meeting, insert
their full name in the box. If you sign and return this proxy form with no name inserted in the box, the Chairman of the meeting
will be deemed to be your proxy. Where you appoint as your proxy someone other than the Chairman, you are responsible for
ensuring that they attend the meeting and are aware of your voting intentions. If you wish your proxy to make any comments on
your behalf, you will need to appoint someone other than the Chairman and give them the relevant instructions directly.
• A vote withheld is not a vote in law and will not be counted in the proportion of votes for or against.
• Where a policy is held jointly with someone else, this letter has been sent only to the fi rst named person on the register of
members. Either joint policyholder may vote but if more than one joint policyholder votes, only the vote of the fi rst named voting
policyholder will be counted.
• Any alteration to this proxy form should be initialled. If you submit more than one valid proxy appointment, the appointment
received last before the latest time for the receipt of proxies will take precedence.
• If you wish to appoint someone other than the Chairman of the Meeting, strike out the words “The Chairman of the Meeting” at the
top of the ‘Postal Vote by Proxy’ box and insert the name of the proxy you wish to vote on your behalf.
• Please indicate in the quick vote box or in the space provided alongside each resolution how you wish your vote(s) to be cast.
Without such specifi c directions, the proxy will vote or abstain at his/her discretion.
• Sign the Proxy Voting Form in the box where it says “Your signature” and date the form in the box entitled “Date”.
• The appointment of a proxy does not preclude you from attending the meeting and voting in person. If you have appointed a proxy
and attend the meeting in person, your proxy appointment will automatically be terminated.
• Addresses (including electronic addresses) in this document are included strictly for the purposes provided and not for any
other purposes.
• It is confi rmed that, following performance evaluation, each of the directors seeking election or re-election continues to be effective
and committed to their role.
Reliance Mutual Insurance Society Limited, Registered Offi ce: 6 Vale Avenue, Tunbridge Wells, Kent TN1 1RG, Registered No. 491580.
Don’t Forget: Voting online or by post closes at 2:30pm on 21 May 2013
For help or information about how to vote, completing your Proxy
Voting Form, Voting Online or anything else, please call our Member
Services Team on:
01892 773 385Lines open 9am – 5pm Mon to Fri. Calls may be recorded.
Have your say!Vote Now
Voting online or by post closes at 2:30pm on 21 May 2013
If you are attending the AGM, please bring this Attendance Card with you.
Notice of the Annual General Meeting of
Reliance Mutual Insurance Society Limited
See ‘How to Vote’
Attendance Card
The Company Secretary of Reliance Mutual Insurance Society
Limited invites you to attend the Annual General Meeting being
held on 23 May 2013 to vote on the ordinary resolutions.
The AGM is to be held in the Regency Room at The Charing
Cross Hotel, Strand, London, WC2N 5HX.
NOTICE is HEREBY GIVEN that the Annual General Meeting of the members of Reliance Mutual Insurance Society Limited will be held at The
Charing Cross Hotel, Strand, London, WC2N 5HX on Thursday 23 May 2013 at 2:30pm. The business of the AGM will be to consider and, if
thought fi t, to pass the following resolutions which are proposed as ordinary resolutions:
Ordinary resolutions
1. To approve the Directors’ Report and Statement of Accounts for the year ended 31 December 2012 and the Auditors’ Report thereon.
2. To approve, by way of advisory vote, the Directors’ Remuneration Report for the year ended 31 December 2012.
3. To re-elect Seamus Creedon, who seeks annual re-election in accordance with the UK Corporate Governance Code.
4. To re-elect Mark Goodale, who seeks annual re-election in accordance with the UK Corporate Governance Code.
5. To re-elect Wai Au, who seeks annual re-election in accordance with the UK Corporate Governance Code.
6. To re-elect Jim Randall, who seeks annual re-election in accordance with the UK Corporate Governance Code.
7. To re-elect Barry Sanjana, who seeks annual re-election in accordance with the UK Corporate Governance Code.
8. To re-elect Nigel Sherry, who seeks annual re-election in accordance with the UK Corporate Governance Code.
9. To elect Chris Lerpiniere, who was appointed since the last Annual General Meeting.
10. To elect Cameron Mills, who was appointed since the last Annual General Meeting.
11. To re-appoint PricewaterhouseCoopers LLP as auditors to the Society for 2013.
By order of the Board
Roger Eastwood
Company Secretary
Reliance Mutual Insurance Society Limited
Please note: Only Members entitled to vote (or their duly appointed proxy) may attend, speak and vote at the meeting. To be entitled to vote at the AGM on 23 May 2013, a Member must
hold an insurance, assurance or annuity policy with the Society on or for his own life, or on or for the life of another person and in accordance with article 15.3 of the Articles of Association,
have been a Member twelve calendar months previous to the holding of such meeting at which they claim to vote and the premium under the policy is not outstanding for more than six
weeks. Any policy made paid up with reduced benefi ts will be treated as having premiums more than six weeks in arrears. The form of proxy must reach Reliance Mutual at least 48 hours
before the meeting. It is confi rmed that, following performance evaluation, each of the directors seeking election or re-election continues to be effective and committed to their role.
Mr Sample
Sample Street
Sample Street
Sample Street
Sample Town
Sample County
AB1 2CD
VRN: X9999999999
X9999999999
“During this time, mutuals have quietly continued to work closely with their customers to provide a better experience of fi nancial
services. This is an important time for fi nancial mutuals that look after the needs of 20 million people and offer a real alternative to the
PLCs. With the support of government and with appropriate regulation, the fi nancial mutual sector can do so much to restore public
confi dence in our industry”. It is worth me adding that, as a mutual, Reliance has no shareholders to pay dividends to, and so is free to
concentrate entirely on delivering products and services that best meet the needs of its customers.
Last year we asked you to vote on the way the Society is run. This year, to improve the accountability of the Board to its members, we
have adopted best practice so that each director is expected to stand for re-election annually. To continue this approach of providing
a strong say in how we do things, we are keeping a close eye on how the government brings about binding votes on directors’ pay for
listed companies. Even though the legislation is not expected to apply to mutuals, our intention is voluntarily to abide by the approach
expected to be set out in the legislation so far as is practicable – so that you have the opportunity to see and have comfort in our
approach to boardroom pay. I will let you know more as developments occur.
We really do want to hear what you have to say
While there is no need to attend the AGM if you do not want to, this is your chance to come along and let us know what you think
about what we are doing. So, if you have something to add about where we’ve come from or where we’re going, or a question to ask,
please do come along. It is a great opportunity to meet your Board, and also fellow members, and make sure your voice is heard.
If you need help or further information about the AGM and how to have your say, please call 01892 773 385. Lines are open 9am-5pm
Monday to Friday. Alternatively, you can also email us at [email protected] or sign up to the members’ section of our website.
I do hope you will be able to come to the AGM and I look forward to meeting with as many members as possible on the day.
Yours sincerely
Seamus Creedon
Chairman
Director Biographies
For more information call our Member Services Team on
01892 773 385Lines open 9am – 5pm Monday to Friday. Calls may be recorded or monitored.
The Venue for the 2013 Annual
General Meeting
The AGM will be held in the Regency Room
at The Charing Cross Hotel, Strand, London,
WC2N 5HX on 23 May 2013.
Registration will start at 2:00pm.
Member: Mr A B Sample Date: April 2013
AGM Reference: XX/999999999999999999
Policy No: XX/999999999
NB: Only one of the policies that you may hold is shown.
Mr Seamus Creedon FSAI FIA
CERA MAAA (age 61)
Chairman (appointed 11/03/2008).
Seamus is a qualifi ed actuary. He is a former partner
at KPMG where he led the UK actuarial practice
from 2000 to 2003 and was the deputy leader
globally. Previously he was Chief Executive of Bank
of Ireland’s life assurance business and also at Abbey
Life Ireland. He is a former member of the council
of the Institute of Actuaries and is a member of the
insurance and reinsurance stakeholder group of
the European Insurance and Occupational Pensions
Authority. He is also a non-executive director of
Baillie Gifford Life, MetLife and (in Ireland) RGA
International Reinsurance and VHI Healthcare.
Mr Mark Goodale BA FIA (age 57)
Chief Executive (appointed 01/07/2006).
Mark is a qualifi ed actuary. Prior to joining the
Society he was a director and the General Manager
of Ecclesiastical Life Limited and prior to that, Chief
Financial Offi cer of Manulife (UK). Mark is Chairman
of the Association of Financial Mutuals having served
on that Board for over fi ve years.
Mr Nigel Sherry ACII (age 55)
Non-executive Director (appointed 24/03/2009)
and Chair of the Fair Member Benefi ts Committee.
Nigel has almost 35 years’ experience in the fi nancial
services industry. He held senior positions at Pearl
Assurance, NPI, Prudential UK and most recently as
Chief Operating Offi cer and acting Chief Executive
of MGM Assurance. In addition to being a non-
executive director, Nigel undertakes short-term
interim management assignments in the Financial
Services sector.
Ms Wai Au MSc FCMA (age 56)
Non-executive Director (appointed 28/10/2009)
and Chair of the Audit and Risk Committee.
Wai currently has a portfolio of senior advisory roles
including Accenture Financial Services UK and China
Construction Bank UK. Wai is a non-executive
director of Prudential Assurance and QBE and a
director of The City UK. Prior to these roles, she
was Chief Executive of corporate pensions provider
Tactica Insurance and before that held several senior
executive posts at Barclays – culminating as Director
of Global Servicing. Wai has held the role of UK
Finance Director (Life and General) for Royal & Sun
Alliance and also UK Finance and Actuarial Director
of Hill Samuel Investment Services Group.
Mr Jim Randall BSc FIA (age 63)
Non-executive Director (appointed 01/07/2004),
Senior Independent Director and Chair of the
Remuneration Committee.
Jim Randall is a qualifi ed actuary who spent 25
years in the life and health reinsurance industry
with Munich Re, Liberty Re and General Re. He is
Chairman and a non-executive director of the tele-
underwriting company MorganAsh.
Mr Barry Sanjana MA FCII (age 57)
Non-executive Director (appointed 01/07/2004)
and Chair of the Investment Committee.
Barry Sanjana spent 25 years working for the
investment management subsidiaries of Royal
Insurance, Commercial Union, CGU and Friends
Provident. He was Chief Investment Offi cer in
both the CGU and Friends Provident Group. He
is also a non-executive director of Police Mutual
and is the Chair of their Investment Committee.
Mr Chris Lerpiniere
BSc ACII (age 54)
Executive Director (appointed 28/09/2012).
Chris is a Chartered Insurer. He joined the Society
in April 2008 and, as Head of Operations, he is
responsible for the service our clients receive and
also for our information technology. Prior to joining
Reliance Mutual, he held senior management
positions at Fidelity and GAN Life and Pensions.
Chris was appointed as a director in September,
because the board had concluded that governance
and organisation resilience would be enhanced by
making additional executive appointments.
Mr Cameron Mills FFA (age 49)
Executive Director (appointed 28/09/2012).
Cameron joined the Society in September 2009. As
Chief Actuary he is responsible for all the Society’s
actuarial functions. Prior to Reliance Mutual, he was
Interim Chief Actuary at Baroda L&G Life Insurance
Co Ltd supporting Legal & General in their joint
start-up in Mumbai. He has also served three years
at Resolution Life and 21 years at Standard Life.
Cameron was appointed as a director in September,
because the board had concluded that governance
and organisation resilience would be enhanced by
making additional executive appointments.
7. To re-elect Barry Sanjana, who seeks annual re-election in accordance with the UK Corporate Governance Code.
8. To re-elect Nigel Sherry, who seeks annual re-election in accordance with the UK Corporate Governance Code.
Have your say!Vote Now
Voting online or by post closes at 2:30pm on 21 May 2013
LEICESTER SQUARE
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Please come along!
is being developed with the aim of growing our membership through trust in our life insurance
products and services. We are in the process of assessing what insurance products customers
need - and can relate to - and I hope to be able to share more about progress at the AGM.
Mutuality – we’re in this together
I would like to take this opportunity to congratulate your Chief Executive, Mark Goodale,
on his recent appointment as Chairman of the Association of Financial Mutuals. Upon his
I would like to take this opportunity to congratulate your Chief Executive, Mark Goodale,
on his recent appointment as Chairman of the Association of Financial Mutuals. Upon his
appointment, Mark explained his view that “the media spotlight has regularly focused on the
appointment, Mark explained his view that “the media spotlight has regularly focused on the
“During this time, mutuals have quietly continued to work closely with their customers to provide a better experience of fi nancial
services. This is an important time for fi nancial mutuals that look after the needs of 20 million people and offer a real alternative to the
PLCs. With the support of government and with appropriate regulation, the fi nancial mutual sector can do so much to restore public
confi dence in our industry”. It is worth me adding that, as a mutual, Reliance has no shareholders to pay dividends to, and so is free to
concentrate entirely on delivering products and services that best meet the needs of its customers.
Last year we asked you to vote on the way the Society is run. This year, to improve the accountability of the Board to its members, we
have adopted best practice so that each director is expected to stand for re-election annually. To continue this approach of providing
a strong say in how we do things, we are keeping a close eye on how the government brings about binding votes on directors’ pay for
listed companies. Even though the legislation is not expected to apply to mutuals, our intention is voluntarily to abide by the approach
expected to be set out in the legislation so far as is practicable – so that you have the opportunity to see and have comfort in our
approach to boardroom pay. I will let you know more as developments occur.
We really do want to hear what you have to say
While there is no need to attend the AGM if you do not want to, this is your chance to come along and let us know what you think
about what we are doing. So, if you have something to add about where we’ve come from or where we’re going, or a question to ask,
please do come along. It is a great opportunity to meet your Board, and also fellow members, and make sure your voice is heard.
If you need help or further information about the AGM and how to have your say, please call 01892 773 385. Lines are open 9am-5pm
Monday to Friday. Alternatively, you can also email us at [email protected] or sign up to the members’ section of our website.
[email protected] or sign up to the members’ section of our website.
I do hope you will be able to come to the AGM and I look forward to meeting with as many members as possible on the day.
Yours sincerely
Seamus Creedon Chairman
Director BiographiesMr Seamus Creedon FSAI FIA CERA MAAA (age 61)Chairman (appointed 11/03/2008).Seamus is a qualifi ed actuary. He is a former partner
at KPMG where he led the UK actuarial practice
from 2000 to 2003 and was the deputy leader
globally. Previously he was Chief Executive of Bank
of Ireland’s life assurance business and also at Abbey
Life Ireland. He is a former member of the council
of the Institute of Actuaries and is a member of the
insurance and reinsurance stakeholder group of
the European Insurance and Occupational Pensions
Authority. He is also a non-executive director of
Baillie Gifford Life, MetLife and (in Ireland) RGA
International Reinsurance and VHI Healthcare.Mr Mark Goodale BA FIA (age 57)
Chief Executive (appointed 01/07/2006). Mark is a qualifi ed actuary. Prior to joining the
Society he was a director and the General Manager
of Ecclesiastical Life Limited and prior to that, Chief
Financial Offi cer of Manulife (UK). Mark is Chairman
of the Association of Financial Mutuals having served
on that Board for over fi ve years.Mr Nigel Sherry ACII (age 55)Non-executive Director (appointed 24/03/2009)
and Chair of the Fair Member Benefi ts Committee.
Nigel has almost 35 years’ experience in the fi nancial
services industry. He held senior positions at Pearl
Assurance, NPI, Prudential UK and most recently as
Chief Operating Offi cer and acting Chief Executive
of MGM Assurance. In addition to being a non-
executive director, Nigel undertakes short-term
interim management assignments in the Financial
Services sector.
Ms Wai Au MSc FCMA (age 56)
Non-executive Director (appointed 28/10/2009)
and Chair of the Audit and Risk Committee.Wai currently has a portfolio of senior advisory roles
including Accenture Financial Services UK and China
Construction Bank UK. Wai is a non-executive
director of Prudential Assurance and QBE and a
director of The City UK. Prior to these roles, she
was Chief Executive of corporate pensions provider
Tactica Insurance and before that held several senior
executive posts at Barclays – culminating as Director
of Global Servicing. Wai has held the role of UK
Finance Director (Life and General) for Royal & Sun
Alliance and also UK Finance and Actuarial Director
of Hill Samuel Investment Services Group.Mr Jim Randall BSc FIA (age 63)
Non-executive Director (appointed 01/07/2004),
Senior Independent Director and Chair of the
Remuneration Committee.Jim Randall is a qualifi ed actuary who spent 25
years in the life and health reinsurance industry
with Munich Re, Liberty Re and General Re. He is
Chairman and a non-executive director of the tele-
underwriting company MorganAsh.Mr Barry Sanjana MA FCII (age 57)
Non-executive Director (appointed 01/07/2004)
and Chair of the Investment Committee.Barry Sanjana spent 25 years working for the
investment management subsidiaries of Royal
Insurance, Commercial Union, CGU and Friends
Provident. He was Chief Investment Offi cer in
both the CGU and Friends Provident Group. He
is also a non-executive director of Police Mutual
and is the Chair of their Investment Committee.
Mr Chris Lerpiniere BSc ACII (age 54)Executive Director (appointed 28/09/2012). Chris is a Chartered Insurer. He joined the Society
in April 2008 and, as Head of Operations, he is
responsible for the service our clients receive and
also for our information technology. Prior to joining
Reliance Mutual, he held senior management
positions at Fidelity and GAN Life and Pensions.
Chris was appointed as a director in September,
because the board had concluded that governance
and organisation resilience would be enhanced by
making additional executive appointments.Mr Cameron Mills FFA (age 49)
Executive Director (appointed 28/09/2012). Cameron joined the Society in September 2009. As
Chief Actuary he is responsible for all the Society’s
actuarial functions. Prior to Reliance Mutual, he was
Interim Chief Actuary at Baroda L&G Life Insurance
Co Ltd supporting Legal & General in their joint
start-up in Mumbai. He has also served three years
at Resolution Life and 21 years at Standard Life.
Cameron was appointed as a director in September,
because the board had concluded that governance
and organisation resilience would be enhanced by
making additional executive appointments.
Please come along!
Important Explanatory Notes
To be effective, all proxy appointments must be lodged with:
Reliance Mutual at their scrutineer - Computershare Investor Services Plc,
The Pavilions, Bridgwater Road, Bristol BS99 6BQ – by 21 May 2013 at 2:30pm.
• A member entitled to attend, speak and vote is entitled to appoint a proxy to attend, speak and vote instead of him or her.
• The proxy need not be a member of the Society. To appoint as your proxy a person other than the Chairman of the meeting, insert
their full name in the box. If you sign and return this proxy form with no name inserted in the box, the Chairman of the meeting
will be deemed to be your proxy. Where you appoint as your proxy someone other than the Chairman, you are responsible for
ensuring that they attend the meeting and are aware of your voting intentions. If you wish your proxy to make any comments on
your behalf, you will need to appoint someone other than the Chairman and give them the relevant instructions directly.
• A vote withheld is not a vote in law and will not be counted in the proportion of votes for or against.
• Where a policy is held jointly with someone else, this letter has been sent only to the fi rst named person on the register of
members. Either joint policyholder may vote but if more than one joint policyholder votes, only the vote of the fi rst named voting
policyholder will be counted.
• Any alteration to this proxy form should be initialled. If you submit more than one valid proxy appointment, the appointment
received last before the latest time for the receipt of proxies will take precedence.
• If you wish to appoint someone other than the Chairman of the Meeting, strike out the words “The Chairman of the Meeting” at the
top of the ‘Postal Vote by Proxy’ box and insert the name of the proxy you wish to vote on your behalf.
• Please indicate in the quick vote box or in the space provided alongside each resolution how you wish your vote(s) to be cast.
Without such specifi c directions, the proxy will vote or abstain at his/her discretion.
• Sign the Proxy Voting Form in the box where it says “Your signature” and date the form in the box entitled “Date”.
• The appointment of a proxy does not preclude you from attending the meeting and voting in person. If you have appointed a proxy
and attend the meeting in person, your proxy appointment will automatically be terminated.
• Addresses (including electronic addresses) in this document are included strictly for the purposes provided and not for any
other purposes.
• It is confi rmed that, following performance evaluation, each of the directors seeking election or re-election continues to be effective
and committed to their role.
Reliance Mutual Insurance Society Limited, Registered Offi ce: 6 Vale Avenue, Tunbridge Wells, Kent TN1 1RG, Registered No. 491580.
Don’t Forget: Voting online or by post closes at 2:30pm on 21 May 2013
For help or information about how to vote, completing your Proxy
Voting Form, Voting Online or anything else, please call our Member
Services Team on:
01892 773 385Lines open 9am – 5pm Mon to Fri. Calls may be recorded.
Have your say!Vote Now
Voting online or by post closes at 2:30pm on 21 May 2013
X9999999999X9999999999
The Venue for the 2013 Annual
General Meeting
The AGM will be held in the Regency Room
at The Charing Cross Hotel, Strand, London,
WC2N 5HX on 23 May 2013.
Registration will start at 2:00pm.
LEICESTER SQUARE
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SQUARE
WHITCOM
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BOW ST
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CHARING CROSS
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2717 AFM Member engagement leaflet.indd 4 08/10/2014 17:41