Annual report: Another strong year for Dentists’ Provident
NewsPosted by: Dental Design 31st May 2022
The 2021 annual report from Dentists’ Provident, a leading income protection provider for dental professionals, was approved at its Annual General Meeting last week
Last year’s results from Dentists’ Provident show a ‘resilient performance’ says its Chairman – The Society distributed nearly £7 million as bonuses to its members and paid over £5 million in claims.
“I am very pleased to report that we have once again delivered a resilient performance, despite the ongoing pandemic. Our results are a testament to the robustness of our strategy and business model, and the talent of our people,” says Giles Kidner, Chairman of Dentists’ Provident.
In 2021 the society paid out £5.4m on a total of 1,190 claims, with an impressive new claims paid ratio of 98.9%. The Society maintained the loyalty bonus paid to leaving members at 15% and the annual interest rates for the various plans remained unchanged at between 4% and 5%.
“We know how the impact of the pandemic continued to be felt by dental professionals in their daily lives last year. Many are still working tirelessly to catch up, while facing more worries, illness and financial uncertainty from restrictions in the way they practice.”
“This past year, our members have shown incredible strength despite the longevity of the ongoing situation. By being flexible, approachable and supportive, we have tried to be one of the few things in their lives that have not become more complicated as a result of the pandemic,” says Farrukh Mirza, CEO of Dentists’ Provident.
At the Annual General Meeting, held at their Head office on Friday 27 May, all directors standing for election were successful, including Matt Payne, who joined the board in November 2021.
As a member-owned and led mutual, Dentists’ Provident’s sole objective for over 110 years has been helping dental professionals achieve financial security during periods of illness or injury. To find out more or read the full 2021 Annual Report visit: https://www.dentistsprovident.co.uk/media/1773/annual-report-2021.pdf
