2013 Report and financial statements

01 April 2014

Chairman’s statement

For many years, we have worked hard to position ourselves so that we are able to meet the needs of our members and offer them long term value. We have made substantial investment in our infrastructure, people and risk management whilst strengthening our finances to make ourselves more resilient to external shocks.

Results

The results for 2013 have been mixed; our income protection business did not perform as well as anticipated. The decline in dental earnings over the last few years has been a significant drag on new business. In addition, we have seen a rise in the level of surrenders as our members seek to consolidate their finances. On a positive note, our performance has been buoyed by the strong momentum in the financial markets.

The board decided to recommend dividends for insured and commuted members to be maintained at £1.44 and £1.80 per share respectively. Our interest and terminal bonus rates remain unchanged at 5% and 15% respectively. To put this into context, we returned nearly £6.8 million to our members in bonuses in 2013.

Please click here to access our 2013 annual report and financial statements

This news release is intended for information only. It is not designed to give financial or medical advice, nor is it intended to make any recommendations of the suitability of our plans for a particular individual. Full details of our contract can be found in our rules. Dentists’ Provident Society Limited does not accept liability and responsibility for changes made to this information. Some of the information in this release has been obtained from third parties. While we believe the information to be reliable; we make no representations as to its accuracy and accept no responsibility or liability for any error, omission or inaccuracy in the data supplied by any third party.

Contact

If you would like more information please e-mail press@dentistsprovident.co.uk

 
 

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