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If only it had stayed as a mutual

January 25th, 2008

The FT reports that:

Friends Provident, the beleaguered life assurer, is moving closer to announcing a break-up and will unveil the results of a strategic review next week.

If only it had remained as a mutual this would not be happening.

I will mourn its passing if that happens. It’s another great Quaker company brought low by the market.

Disclosure: I was a member of the Religious Society of Friends (Quakers) for several years, and remain very much in sympathy.

Richard Murphy Economics

  1. Mark Wadsworth
    January 25th, 2008 at 16:44 | #1
    Reply | Quote

    Remained mutual … a bit like Equitable Life?

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