Cirencester Friendly paid out 94% of claims in 2014, with sick pay benefit totalling £3.3m.

Annual premium income was up 4.5% from £14.2m in 2013 to £14.9m in 2014, while investment income was up over 10% from to £1.72m in 2014.

The total value of the Society’s assets has increased by 8.8% from £68.5m in 2013 to £74.5m in 2014

Paul Hudson (pictured), chief executive at Cirencester Friendly said: “It is satisfying to be able to report that Cirencester Friendly has once again seen strong annual growth. It is a testament to the dedication of the Society’s staff that membership, premium and investment income and the value of the Society’s assets have all increased in 2014.

“2015 marks the 125th anniversary of the founding of the Society and we look forward to continuing to deliver on our promise to help members financially when they need us most, and to providing the highest standards of service to our Members and the advisers who recommend the Society to their clients.”