Annual General Meeting

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Annual General Meeting

• Peebles, Scotland
• 9 October 2009

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3. Reports from

• Committee Chairmen

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Income Protection

• David Thompson,
• Dentists and General

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Key issues over last 12 months

• Publishing claims statistics
• Promoting links with IFAs
• Working with other parts of the industry
• Complaint Handling
• Training and Development

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Management

• Paul Hudson
• Cirencester friendly

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Main activity

• Performance of the General Secretary
• Service agreement with ICMIF
• AFS Annual Budget
• Statutory report and accounts
• Board strategy

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AFS accounts

• PL account

Reserves Start of year 181,009 End of
year 195,515
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Associate members

• AM Best
• Assets Reunited
• Caunce O'Hara
• Cazenove Capital Management
• Citigroupquilter
• Ernst and Young
• Forester Life
• Hill Dickinson
• Legal and General Investment Management
• KPMG

• Lovells
• Mazars
• Milliman
• Moore Stephens
• OAC Actuaries and Consultants
• Oliver Wyman
• Rensburg Sheppards
• Royal London Group
• Steve Dixon Associates
• Thring Townsend Solicitors
• Watson Wyatt

please consider how working with Associate
members, who continue to show their support to
the sector, might benefit your society
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Policy and External Affairs

• Andrew Haigh
• Engage Mutual

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Progress this year

• Ensuring friendly societies included in future
  policy development
• Using experience of the Child Trust Fund to
  demonstrate our capabilities
• Meetings with Exchequer Secretary
• Meetings with Opposition counterpart
• Engagement on ways Government can support the
  sector
• Written proposals on how to support sector in a
  more meaningful way
• Regular meetings with HMT and HMRC on a range of
  issues
• Increased press interest in sector, as an
  alternative to high street providers

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Priorities in an election year

• Mutuals Manifesto
• Working with other mutual trade bodies to develop
  common themes
• Working these into a presentation for each party,
  to seek their commitment to including in their
  election manifesto
• Launch at Mutuals Forum, 22 October
• Sponsoring fringe meetings at Labour and
  Conservative Party Conferences
• Responding to press interest in the sector

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Regulation

• Richard Sear
• National Friendly

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Another busy year

• Will produce over 30 responses in 2009
• Assessing implications of new regulation and
  alerting FSA to (un)intended consequences
• Good progress on
• Treating Customers Fairly
• Annotated Combined Code
• Governance
• Regular communication with members

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Current and future perils
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Taxation

• Elaine Fairless
• Compass Friendly Society

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Main activity

• Identifying tax issues that will affect sector,
  and working with HMRC to maintain constructive
  dialogue
• Over last 12 months, this includes
• Policyholder tax
• Impact of the Finance Bill 2009
• VAT recovery Fleming cases
• Child Trust Fund
• Solvency II tax implications

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Training and Development

• Peter Green
• Healthy Investment

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Main deliverables

• 200 attendees at seven events
• Rich quality and mix of speakers
• Cost effective thanks to generous support of
  Associates and members in hosting
• Net income from events of over 5,000
• Supporting relevant events run by other trade
  bodies and Associates