Three discretionary mutuals have chosen Thomas Miller Group as their new manager, replacing Regis Mutual Management (RMM) after the latter went into administration in June.
Described as a “natural fit” with Thomas Miller, the mutuals are Fire & Rescue Indemnity Company Limited (FRIC), Livery Companies’ Mutual (LCM), and Activities Industry Mutual (AIM).
“The management of mutuals is fundamental to Thomas Miller,” said chief executive Bruce Kesterton. “These very successful mutuals are highly valued by their members, and we are looking forward to working with each of them to continue to provide an excellent service and help them achieve their growth targets.”
Set up in 2005, AIM provides discretionary liability cover and insurance to more than 1,000 activity providers and organisations; LCM, operating since 1999, caters to 84 livery companies, London’s ancient and modern trade associations and guilds, and similar entities; and FRIC has been offering products combining insurance with risk and financial pooling since 2015.
“The three mutuals opted to choose Thomas Miller rather than transferring to a new manager in a ‘pre pack’ following RMM’s move into administration; they are a natural fit with Thomas Miller’s PI (professional indemnity) division,” noted Thomas Miller.
