About the Society
Aldercrest Mutual Assurance Society Limited was formed in 1946 by a group of friendly societies in the City of London, at a time when a great many households had no cover of any kind. The Society has no external shareholders. It is owned by its members and directed by a board elected from among them.
How the Society is run
The board meets quarterly. An annual general meeting is held each June at the registered office, and every member of the Society is entitled to attend and to vote.
Underwriting and review
Premiums are set by the actuarial department on the basis of the Society's own claims experience rather than on market rates. Each policy is reviewed annually. Where a policy has become materially unprofitable to the membership, the Society may adjust its terms at renewal.
The Society's underwriting standards and its review criteria are matters for the board and are not published.
Officers
| Chief Executive | R. E. Calloway |
|---|---|
| Company Secretary | Miss H. M. Ravenscroft |
| Chief Actuary | P. J. Oduya, FIA |
| Head of Claims | D. Whitcombe |
Enquiries to the Company Secretary at the registered office, or by electronic mail to secretary@aldercrest.co.uk.