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Wesleyan Assurance Society is a specialist financial services company that provides advice and products to select professional groups - notably GPs, hospital doctors, dentists, teachers and lawyers.

Wesleyan is a member of the Association of Financial Mutuals (AFM) and was founded in Birmingham, UK, in 1841. The society's head office remains in Birmingham and is based at Colmore Circus.

History

Wesleyan was established in Birmingham during the early years of Queen Victoria's reign. It was founded by members of the Wesleyan Methodist Church to help people overcome financial problems brought on by the first industrial revolution. The Society began offering life assurance on a nationwide scale in 1855 and continued to grow in the late 1800s.

In 1914 The Wesleyan & General Assurance Society Act was granted, giving the Society a corporate identity of its own and allowing it more investment freedom. The Society was also a generous subscriber to the Government and allies' War Loan funds during the Great War, and in February a single cheque for £250,000 was drawn for this purpose.

To celebrate the end of the war, the Government issued Victory Bond policies and the Wesleyan & General bought Bonds amounting to £3/4 million.

Following the outbreak of World War II, the Chief Office basement and other buildings owned by the Society were converted into air raid shelters, with a local first aid HQ established in the basement toilets.

In 1991 the Society celebrated its 150th anniversary and moved into its current Head Office at Colmore Circus, Birmingham. A special limited edition Anniversary Bond was also launched offering customers a guaranteed return with no risks.

1993 saw the launch of Wesleyan Savings Bank, while 1997 saw a merger with the Medical Sickness Society take place. The merger enabled the society to build a market leading brand with Doctors and Dentists, a position further strengthened with the acquisition of the Professional Affinity Group Services (PAGS) in 2002.

The Wesleyan has continued to raise funds for Birmingham Children's Hospital in 2015 and were the main sponsors of The Big Bandage for the third year running. Additional charity events have included a hike up Snowden as well as a static 874 mile spin bike challenge that raised thousands of pounds towards the proposed build of Magnolia House.

2015 also saw Wesleyan lauch a new responsive website in 2015 to improve mobile access for customers and visitors.

The Wesleyan Building

The Wesleyan Head Office building is one of the most well-known buildings in Birmingham thanks to its unusual cruciform shape and its large double pyramid shaped roof. The building was constructed by Peter Hing & Jones between 1988 and 1991 and is also home to Pinsent Masons - an international corporate law firm.

The building itself is clad in artificial pink granite which the Pevsner Guide for Birmingham says is, "angled between floors, like the legs of a huge insect." The name "Wesleyan" is displayed across the pyramid shaped upper region.

According to an article in the Midlands Business News, published on July 21, 2011, "Intelligent lift technology has trebled the energy efficiency of Birmingham's iconic Wesleyan Assurance Society Building and reduced its annual carbon emissions". The new lifts also generates energy which can be used elsewhere in the building.

Segmentation by profession

Each professional group is served by dedicated Financial Consultants who work only within their specialist segment. Wesleyan is authorised and regulated by the Financial Conduct Authority and Prudential Regulation Authority .

GPs, Hospital Doctors and Dentists

Wesleyan provides a range of financial products and services for medical and dental professionals including medical students, partners and consultants. The society offers financial planning around NHS Pension Scheme, income protection and savings and investments.

Teachers

Wesleyan offers advice to teachers around the Teachers Pension Scheme as well as retirement planning, mortgages to investments.

Lawyers

Wesleyan works with lawyers across the legal profession to advise them around income protection, key person insurance, retirement planning and investments. This includes those still at law school to senior partners.

Professionals

Wesleyan has traditionally offered financal services to a wide variety of professionals, providing advice around remortgaging, investments, income protection, pension planning and home insurance.