National Friendly

From Justapedia, unleashing the power of collective wisdom
Jump to navigation Jump to search

National Friendly
TypeFriendly Society
IndustryInsurance
Founded1868 (Albury, Surrey)
Headquarters11-12 Queen Square
Bristol
BS1 4NT
Area served
United Kingdom
ProductsHealth insurance, later life care, life assurance and investment products
SubsidiariesNational Friendly Financial Solutions Limited
Websitewww.nationalfriendly.co.uk
Office at 11-12 Queen Square, Bristol

National Friendly is the trading name of National Deposit Friendly Society, a British friendly society providing financial products and services.

It was formed in 1868 as the Surrey Deposit Friendly Society. As of 2021, National Friendly is based in Queen Square, Bristol.[1][2]

History

The Society was founded in 1868 by the Rev. George Raymond Portal to provide sickness cover for the poor. Portal was born in 1827 and educated at Rugby School where he was friendly with Thomas Hughes (Tom Brown's Schooldays) and Charles L Dodgson (Lewis Carroll). After ordination, Portal worked in London where his exposure to the appalling level of poverty was the impetus for the establishment of the friendly society. In 1858 Portal was appointed Rector of Albury, near Guildford; ten years later he started the Surrey County Deposit Benefit Club.[3]

The deposit system was the idea of Rev. Samuel Best, Rector of Abbots Ann in Andover. In essence, the deposit principle was that part of the contribution was for the benefit of the individual, and part for the common pool. Portal's Society was unusual in that it admitted women and children, By the end of 1869 the Society had around 200 members and was beginning to spread into the surrounding villages and then Guildford where it had a small office with a general secretary. In 1871, Portal was appointed to the living of Burghclere in Hampshire at the instigation of his friend Lord Caernarvon.[3]

Whether or not it was co-incidental, Portal's move marked a radical change in the scale of the Society. He proposed a move into other counties and to facilitate that, a new organisational structure was established and the name changed to the ambitious National Deposit Friendly Society. The first moves were into Berkshire and Hampshire. George Portal died in 1889, with the National Deposit's membership approaching 7,000; in 1897 London became the new headquarters. Two years later there were 36,000 members and by 1930, the membership reached one million.[3]

By providing state benefits, the 1911 National Insurance Act had the potential to threaten the voluntary principle of the voluntary system. However, the administrative systems of the friendly societies were necessary to implement the State scheme and the National Deposit was the first friendly society to become an approved administrator under the act; in the event, membership increased.[3][4][5][6][7] At the end of World War I, National Deposit established its own convalescent home, which offered support to injured soldiers.[8][9] The establishment of the National Health Service posed similar threats and in 1949 the National Deposit lost 278,000 members. The Society responded by issuing a range of new policies during the 1950s and 1960s, such as variations in the length of sickness cover. In 1982 the Society moved to Bristol.[9]

In 2011, National Friendly stopped writing new health insurance policies due to capital inadequacy issues. It resumed such activity in 2016.[10]

References

  1. ^ "Europe's largest Georgian Square becomes new home for National Friendly". capitolsignsbristol.co.uk. 2 August 2019. Archived from the original on 28 September 2020. Retrieved 16 July 2021.
  2. ^ "About Us". nationalfriendly.co.uk. Archived from the original on 25 July 2018. Retrieved 15 July 2021.
  3. ^ a b c d Roper and Harrison, The First Hundred Years 1868-1968,
  4. ^ BMA (1913). "Regulations For Medical Benefit. Text Of The New Draft Regulations". The British Medical Journal. 2 (2759): 401–420. JSTOR 25307868.
  5. ^ Dan Moorehouse. "National Insurance Act 1911". schoolhistory.org.uk. Archived from the original on 2 November 2019. Retrieved 15 July 2021.
  6. ^ Cordery, Simon (2003). British friendly societies, 1750-1914. Basingstoke: Palgrave Macmillan. ISBN 9780230598041. OCLC 1205395891.
  7. ^ Beveridge, William H. (2015). Voluntary Action: A Report on Methods of Social Advance. London: Routledge. ISBN 9781317572992. OCLC 897376725.
  8. ^ "Portal House". St. Margaret's Village Archive. Archived from the original on 14 January 2020.
  9. ^ a b "About us - National Friendly".
  10. ^ Walker, Peter (20 June 2016). "National Friendly returns to intermediary market". FT Adviser. Archived from the original on 21 June 2016. Retrieved 16 July 2021.
Retrieved from "https://justapedia.org/index.php?title=National_Friendly&oldid=1098929793"