On 9th January, the All-Party Parliamentary Group for Mutuals met in Parliament for lunch hosted by Gareth Thomas MP and Royal London, the UK’s largest mutual life, pensions and investment company.

Lord Kennedy of Southwark chaired the session and Kevin Parry OBE, Chairman of Royal London as well as Society Chairman of Nationwide Building Society, addressed the APPG. Mr Parry spoke of the importance of mutuals in the UK’s financial services sector and acknowledged recent policy developments supporting the sector. Mutuals are in a unique position to benefit their members and the communities they operate in and future reforms should reflect this. The Group was joined by Barry O’Dwyer, Group CEO of Royal London and Tracey Graham, Senior Independent Director at Nationwide as well as colleagues from each organisation. 

The Group identified a number of possible future reforms, which will be examined in greater detail in the APPG’s response to the Law Commission’s review of the Co-operative and Community Benefit Societies Act 2014, which is currently underway.

Thank you to all who attended, Gareth Thomas MP, Lord Kennedy of Southwark, Richard Bacon MP, Alex Sobel MP, Sir Mark Hendrick MP, Sir George Howarth MP, Baroness Bottomley of Nettlestone, Lord Hunt of Wirral, Lord Holmes of Richmond, Lord Wrigglesworth, Barry O’Dwyer, Kevin Parry OBE, Jamie Jenkins, Steven Hill, Tracey Graham, Chris Bose, Heather Buchanan and Mark Leftly.