Votes for three new board members
Members of South West insurance company Cornish Mutual have voted to elect three new board members at the Annual General Meeting held last week(Thursday 26 March 2009).
The company’s finance director Peter Beaumont was officially appointed to the board at the AGM, alongside retired solicitor Ian Pawley and former insurance broker Leslie Baker. The meeting was held at the Falmouth Beach Resort Hotel at 2.30pm and was well attended – a number of proxy votes were also submitted ahead of the event.
A report on the accounts was given by Winter Rule, the company’s auditors followed by a directors’ report, chairman’s address, statement of accounts and investment report. Over 21,600 Members throughout the region were written to in advance, inviting them to the meeting.
During the meeting, new finance director Peter Beaumont was welcomed and voted onto the board by Cornish Mutual Members. Peter has joined the company from corporate finance specialists Close Asset Finance Ltd where he was group financial controller.
Peter, who lives in Feock, brings with him a wealth of experience in the IT and financial services industries including insurance and banking. He has held various director level appointments covering both finance and operations.
Commenting on his appointment, Peter said: "I am very much looking forward to working with Alan and all the staff to contribute to the future success of Cornish Mutual. Everyone at Cornish Mutual is focused on the delivery of a truly first class service to all its Members and this is what attracted me. There are some areas where I believe I will be able to help improve the processes through which staff deliver this aim."
Ian Pawley, former managing partner of regional legal firm Stephens Scown, also joined the Cornish Mutual board. Ian, who has lived and worked in Cornwall for all his professional life as a solicitor, understands the agricultural sector well having dealt with many issues around farms and inheritance tax.
Ian, who retired from Stephens Scown last year, holds non-executive director positions with Cornwall Care and Cornwall Partnership NHS Trust as well as being a trustee of the Duchy Health Charity and Cornwall Community Foundation.
He said: "I know Cornish Mutual very well and am committed to supporting and expanding its business, increasing profitability for Members. I hope my knowledge of modern legal and business requirements including those of corporate governance will be of service to Cornish Mutual. I believe its mutual status holds great benefits for both Members and its business; it’s something the West Country should be very proud of and is one of Cornish Mutual’s major attributes – something very few insurers can boast as a credential."
Former insurance broker, Leslie Baker was the third appointment to the board of Cornish Mutual. With over 45 years experience of the insurance industry under his belt, Leslie retired in 2007 after selling the Newquay-based firm, Walmsley, Baker and Co in which he was a partner in 2005. He comes from a farming family and was born and raised in Cornwall.
Leslie, who lives in St Austell, explained: "I understand the insurance business and the needs of the rural community. All my family are in farming, I’ve been a Cornish Mutual Member for over five years but have a long-standing professional relationship with the company as a former insurance broker."
He continued: "I want to help grow the company which has a unique product, local service with hands-on management. This is a Members’ insurance company and not a shareholders’ company and if you’re a Member, you will benefit from that."
Cornish Mutual is one of the oldest insurers of its kind in the UK, having been founded by a group of Cornish farmers over 105 years ago. As a mutual organisation, it only works for its Members and ensures that profits are distributed or reinvested to give better returns, a fair claims process and higher levels of service.
The firm has offices in Exeter and Truro, employs 65 members of staff and provides insurance products for people and businesses across Cornwall, Devon, Somerset and Dorset.
