Friends Provident

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Friends Provident plc

Type	Public (LSE: FP.)
Founded	1832
Headquarters	London, England
Key people	Adrian Montague (Chairman), Philip Moore, (Chief Executive)
Industry	Financial Services
Products	Insurance, Inheritance tax products, Investment Management Pensions
Revenue	£5,158 million (2006)
Operating income	£491 million (2006)
Net income	£421 million (2006)
Website	www.friendsprovident.com

Friends Provident plc (LSE: FP.) manages a life assurance business in the United Kingdom

[edit] History

Friends Provident has been in operation since 1832. From its creation and until 2001, Friends Provident was a mutual society. Its status as a mutual society was affirmed by the Friends Provident Act of Parliament. In July 2001 it went through a process or demutualisation and has been a member of the FTSE 100 Index ever since. The Company was founded in Bradford by Quakers to provide life assurance for their members. The office was originally located above a sweet shop. The head office is now located at 100 Wood Street in London. The registered office is at Pixham End, Dorking in Surrey. It is a member of the Association of British Insurers and is regulated by the Financial Services Authority.

Friends Provident prides itself on its ethical stance. It was the first investment house to offer a fully ethical investment fund called Stewardship.

Since the demutualisation of Friends Provident, the company has been reorganised into a group. Each member of the group trades under its own name.

Friends Provident has signed a three year deal to sponsor the domestic one-day cricket competition, The Friends Provident Trophy.

Friends Provident sponsored Southampton F.C. and help finance the building of St Mary's Stadium, until 2006.

Friends Provident has large offices in a number of locations including Manchester, Exeter, Preston and Dorking, and is the second largest employer in Salisbury. There are also a few smaller area offices such as those in Sale, Greater Manchester and Preston.

Internationally Friends Provident has offices in such diverse places as Luxembourg, Hong Kong, Singapore and Dubai

[edit] Members of the Friends Provident Group

Friends Provident Life and Pension Limited - Provides life, pension and investment services within the UK
Friends Provident Life Assurance Limited - Provides life and investment services worldwide under English and Guernsey law.
Friends Provident International Limited - Formerly Royal and Sun Alliance International but was taken over in 2003. Provides life and investment services worldwide and operates under the law of the Isle of Man.
F&C Asset Management plc - Provides asset management services for retail and institutional investors including investment management of "in-house" Friends Provident life and pension funds.
Lombard International Insurance S.A. - Acquired in 2005, providers of high-end Investment and life cover. Inventors and developers of the privatbancassurance concept. Lombard is based in Luxembourg and deals globally.

Friends Provident have merged with and taken over many insurers including: United Kingdom Provident, National Mutual of Australasia, and London and Manchester Assurance. The latter was split into two and half was sold on to Royal Liver Assurance.