Annual General Meeting

AGM 2023

We held this year's AGM on Tuesday 6 June 2023.

How did we do in 2022

Each year we produce a report which shows how the Society has performed.  You can download and read our report here. Or if you would like a free printed copy you can email us at

You can find previous Annual Reports here.

Voting and the meeting

How to vote online

 Online voting is now closed.

How to vote by post

Voting is now closed.

Join us at the AGM

Voting is now closed.

Use your vote

Member could vote for or against each decision that we’ve discussed at our AGM, or they could withhold their vote. They were voting to decide if:

  1.  the minutes of the last Annual General Meeting on the 7 June 2022 can be accepted as correct
  2. the Society’s 2022 Annual Accounts, including the report of the Society’s Board, can be received and accepted
  3. the 2022 Directors’ Remuneration Report1 can be approved
  4. BDO LLP of 55 Baker Street, London, W1U 7EU can be appointed as the Society’s Independent Auditor

Deciding who should serve as a Director

All of your Directors serve for a fixed term. Members were voting to decide if:

  1. Mrs A. East can be re-elected as an independent Non-Executive Director for a further term of 1 year
  2. Dr A. Humphreys can be re-elected as an independent Non-Executive Director for a further term of 1 year
  3. Mr D. Wright can be re-elected as an independent Non-Executive Director for a further term of 1 year
  4. Mr D. Cheeseman can be re-elected as an independent Non-Executive Director for a further term of 3 years
  5. Mr S. Tragheim can be re-elected as an Executive Director for a further term of 3 years

We always ask you to approve any new directors at the next AGM after they joined the Board.

Members were voting to decide if:

6. Mr M. Allen can be elected as an Executive Director for a term of 3 years

    1 This is an advisory vote, to allow the Board to understand your views.

      Meet the Directors standing for election

      Anna East

      Independent Non-Executive Director

      Anna joined the Board in November 2015. Anna is a solicitor and has practiced at Eversheds and a financial services company. Anna was the chair of the Dudley Building Society, and Vice Chair at Midland Heart Housing Association, as well as chairing its audit committee. She was a non-executive director at Entrust which is a national regulator. Anna has held a number of NHS Board roles and was a governor of King Edwards School in Edgbaston, Birmingham.

      Adrian Humphreys

      Independent Non-Executive Director

      Adrian joined the Board in November 2015. Adrian’s previous roles include chair of the protection business within JLT Benefits Consulting practice. He’s a specialist in corporate healthcare and risk provision. Adrian was an independent non-executive director of Benenden Healthcare. Adrian previously spent 15 years of his career working for Western Provident Association (‘WPA’), a not-for-profit health insurer. For 10 years, he was the Managing Director of WPA’s Corporate Division. Before this, he worked for the management consultant Arthur D. Little Inc.

      Derek Wright
      Chair of the Board
      Independent Non-Executive Director

      Derek joined the Board in February 2017. Derek is an actuary and has worked in the life insurance industry as a practitioner and as a consultant. Derek was the chief actuary of Laurentian Life in Gloucester until its sale in 1995. After this, he joined Deloitte LLP where he set up its UK actuarial practice and became a partner of Deloitte in 1999. From 2011 until his retirement in 2015, Derek led the Canadian actuarial practice of Deloitte. Much of Derek's time at Deloitte was spent on audit and risk consulting activities to the insurance industry.

      Dave Cheeseman

      Independent Non-Executive Director

      Dave joined the Board in February 2020. Dave has over 30 years’ experience in the life insurance industry. He brings a strong mix of financial, actuarial and operational skills to the Board. During the last 12 years he’s been a board member of a number of different life companies. From 2010 to 2016 he served as chief finance officer of AXA UK Life, and between 2017 and 2020 he performed the same role for Phoenix Life.

      Stuart Tragheim

      Chief Executive and Executive Director

      Stuart joined us in June 2016. He’s worked in the financial services market for over 35 years in a range of strategy, leadership and business development roles, including with various market leading firms such as Lloyds Banking Group, Equiniti and LV=. He’s run his own consultancy business providing strategic and business development advice.

      Stuart has considerable board, executive and industry experience and contributes regularly to industry-wide developments. He sits on the Board and chairs the Association of Financial Mutuals, and is also a member of ABI’s Protection and Health Board, and the FCA’s Smaller Business Practitioner Panel. 

      Mark Allen

      Chief Finance Officer, Chief Risk Officer and Executive Director

      Mark joined the Society in May 2022 and he joined the Board in June 2022, subject to regulatory approval which was received in February 2023.

      Mark has over 30 years’ experience in the insurance, pensions and asset management sectors. He’s a qualified actuary and has held a number of executive and senior manager roles with firms such as B & CE Group, Sun Life of Canada, Blackrock Life, Phoenix and Skandia.

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