Association of Financial Mutuals

The Association of Financial Mutuals is the trade body that represents mutual insurers, friendly societies and other financial mutuals in the UK.

Launched in 2010, following a merger of the Association of Mutual Insurers and the Association of Friendly Societies. AFM comprises 43 member companies, who between them manage the savings and protection needs of 8.5 million customers, and have assets under management of over £35 billion.

A financial mutual is an organisation that supplies financial services products, and which is owned by its customers, or members. As a result a financial mutual has no shareholders to pay dividends to or account to, and can concentrate on delivering products and services that meet the needs of its customers.