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Personal Finance: Wesleyan is among the high ratings.

West Midland financial services companies were among the honours this week. Birminghambased Wesleyan Assurance Society scored 34 top 10 appearances out of a possible 40 in the latest Money Management with-profits survey. It figured in the league tables for 10-, 15-, 20and 25-year withprofits endowment policies and was ranked second overall.

It achieved eight more appearances the next ranked life office in this sector.

Chief executive Peter McNamara said: 'I am very pleased that Wesleyan has once again achieved such high ratings in the Money Management survey. 'We are very positive about our with-profits products.

'In these tough market conditions the with-profits smoothing concept really comes into its own.

'In recent times policies have been consistently delivering results that compare very favourably with those achieved by other investment vehicles.

'It is apparent, however, from the results of this survey that the choice of life office makes all the difference.'

Wesleyan is ranked as one of the UK's strongest life offices and has one of the highest free asset ratios in the industry.

During 2001 Wesleyan outperformed the industry average, and while the FTSE All Share Index fell by 15.4 per cent the assets backing its with-profits profits business gave an investment return for the year of minus 2.4 per cent before tax.

Meanwhile, Birmingham Midshires, based at Wolverhampton and the specialist lending arm of the Halifax group, won four titles in the annual Your Mortgage magazine industry awards.

It was named Best Intermediary Lender, Best Self-Certification Lender and was highly commended in the buy-to-let and subprime mortgage sectors.

Director of mortgages Michael Bolton said: 'This is fantastic recognition of what we are trying to achieve in the specialist lending market.'
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Title Annotation:Features
Publication:The Birmingham Post (England)
Date:Nov 30, 2002
Words:282
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