THE mutual, Scottish Friendly, has reported record sales of £56 million in its accounts published on Thursday – the highest ever achieved.
The accounts show that in the last financial year £23 million was returned to members.
In other areas Scottish Friendly reports a 60% growth in its Stocks & Shares ISA and Junior ISA, and its assets under management are now £4.4 billion.
Stephen McGee, Scottish Friendly’s Chief Executive, said: “2025 was a landmark year for Scottish Friendly. We delivered record sales, strong growth in our core ISA products and meaningful returns directly to our members – despite a challenging savings environment.
“Alongside this performance, we’ve taken important strategic steps that will strengthen the society for the long-term and broaden what we can offer members and ensure Scottish Friendly is well positioned for the future.”
Alan Rankine, Scottish Friendly’s Chief Financial Officer, said: “This has been another year of robust performance, once again demonstrating the resilience and financial strength of the society. Our strong capital position and disciplined approach leave us well placed to continue delivering against our strategic objectives and supporting members and their families over the long term.”
In 2025 Scottish Friendly agreed to acquire the pension and annuities in-payment books of business from FIL Life Insurance Limited which is part of the Fidelity International Group and that should be completed by September this year, subject to court approval.
The business is also merging with One Family, another mutual organisation which should come into effect in early 2027.
Scottish Friendly is a leading UK mutual life and investments organisation. It provides its members and their families with a wide range of investment and protection solutions and provides life and investment products and services to other financial organisations.
Scottish Friendly 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.
