Glasgow-based mutual Scottish Friendly has a 150-year legacy of helping families hedge against the unexpected and invest for a financially secure future. The firm offers financial products including life insurance, bonds and investment or Junior ISAs (individual savings accounts). Scottish Friendly has grown into one of the UK’s largest mutuals, with a recent landmark acquisition that doubled its assets under management — now at over £5bn — and pushed membership to some 700,000 policyholders. The deal, which was two years in the making, supports the firm’s three-pronged strategy of organic growth, outsourcing partnerships, and consolidation. As a mutual, Scottish Friendly is beholden not to shareholders but to its policyholders, and company profits are reinvested for members’ benefit. The firm advocates for financial inclusivity and offers to help clients “navigate the monetary maze” of saving and investing. It conducts focus groups and applies feedback to align products and services to customer demand. Scottish Friendly has incorporated client suggestions and rolled out a new app with improved functionality, flexibility and speed. The firm’s continuous improvement has garnered a fresh following of younger, more tech-savvy membership — as well as recognition. In 2019, the small firm was named Best Mutual Insurer and Best UK Junior ISA Provider in the CFI.co and Investment Life and Pensions Moneyfacts awards programmes. Despite a risk-averse environment, Scottish Friendly anticipates profits and growth in line with previous years. The CFI.co judges declare Scottish Friendly the repeat winner of the Best Mutual Insurer UK award — this time for 2020.