NFU Mutual

{{Prose|date=December 2023}}

Founded in 1910 in Stratford-upon-Avon, Warwickshire, as the Midlands Farmers' Mutual Insurance Society Ltd, the company initially provided insurance exclusively to farmers' union members asserting a 15% premium discount.{{Cite book |last=Head |first=Victor |title=A Triumph of Hope: The Story of the National Farmers Union Mutual Insurance Society Ltd |year=1985 |language=English}} John William Lowe was the first chair, James Robertson Black became the first managing director in 1912, and his farmhouse was the first office.{{Cite book |last=Cooper |first=Bill |title=A Century of Service: The story of NFU Mutual |publisher=Granta Editions |year=2010 |isbn=978-1-85757-100-4 |location=Cambridge, UK |language=English}}

The society became the official insurer of the National Farmers' Union (NFU) in 1919, adopting the name NFU Mutual. It was governed by 16 directors (eight from each organisation), limited membership to NFU members. Ralph Chisholm, later the first CEO, joined during this period.

In 1920, offices were established in Stratford-upon-Avon. An early director was Sir Basil Brooke who went on to be Prime Minister of Northern Ireland,

NFU Mutual became the official insurer of the NFU of Scotland in 1922. In 1928, it began to offer life assurance products and a pension scheme. A separate non-farming insurer, Avon Insurance, was established in 1925 (renamed 1931). The 1930s saw the use of a film unit for promotion. By 1940/41, NFU Mutual had over 100,000 policyholders, £1 million income, and £2 million assets. Assets reached £50m in the 1960s, but a major foot and mouth outbreak in 1967 temporarily stopped new related business. New head offices were built in Tiddington in 1984 with environmental considerations.{{Cite web |last=Historic England |title=National Farmers Union Mutual and Avon Insurance Group Headquarters |url=https://artsandculture.google.com/asset/national-farmers-union-mutual-and-avon-insurance-group-headquarters-tiddington-road-stratford-upon-avon-warwickshire/qgE6URDPQgXEjQ |access-date=11 May 2019 |website=Google Arts & Culture}} Around 70% of NFU members were customers by 1985. Exeptional storms in 1987 and 1990 cost £30m and £58m in claims.

In July 1998 the Board put before the members proposals to change the Articles to give the Mutual freedom to insure anyone, irrespective of profession or occupation. Seeking to reassure the core farming customers that the change would not have an adverse impact, a product called Mutual Advantage was set up, restricted to NFU Members, which provided extra discounts and cover for farming customers. Mutual Advantage is still fielded as part of the business marketing to farming union members.

In the late 1990s, the demutualisation of NFU Mutual was explored by director John Murray{{Cite web |title=NFU Mutual responds to speculation that independence is under threat Life insurer underlines commitment to mutuality |url=https://www.heraldscotland.com/news/12231084.nfu-mutual-responds-to-speculation-that-independence-is-under-threat-life-insurer-underlines-commitment-to-mutuality/ |access-date=3 April 2021 |website=HeraldScotland|date=3 September 2001 }} who initially approached five venture capitalists in the hope of launching a bid. Substantial windfalls for members were anticipated.{{Cite news |last=Swinburn |first=Amanda |title=Investors force NFU to listing |website=Insurance Times |url=https://www.insurancetimes.co.uk/investors-force-nfu-to-listing/1351228.article |access-date=2 April 2021}} Commenting to the House of Commons Treasury Select Committee{{Cite web |title=House of Commons - Treasury - Minutes of Evidence |url=https://publications.parliament.uk/pa/cm199899/cmselect/cmtreasy/605/9062913.htm |access-date=3 April 2021 |website=publications.parliament.uk}} on the possibility of demutualisation, Andrew Young, the then managing director said:

"In our view, members of a mutual should... decide how the business is run, and if they are not satisfied, they should get rid of the Board and the management rather than demutualise."

The business reported Group profits of £360million in 2024 with total funds under management of £20.9bn.{{Cite web |title=Publish Online |url=https://indd.adobe.com/view/858cc55f-c462-4e0a-bfcb-07df3060b916 |access-date=2025-04-30 |website=indd.adobe.com |language=en}}

The Group made a profit of £164million in 2023, when total funds under management were £20.2 billion.{{Cite web |title=Company Information |url=https://www.nfumutual.co.uk/about-us/company-information/ |access-date=2022-09-29 |website=Read our Company Information here {{!}} NFU Mutual |language=en}}

The group reported loss of £1.05bn for 2022.Speech of Jim McLaren, Chair, at the 2023 AGM.

The business experienced a period of underwriting losses for five consecutive years leading up to 2012.{{Cite web |date=2012-05-16 |title=NFU Mutual reports first underwriting profit since 2006 but hit by investment losses - Insurance Post |url=https://www.postonline.co.uk/personal/2175019/nfu-mutual-reports-first-underwriting-profit-since-2006-but-hit-by-investment-losses?WT_rss_a=NFU%20Mutual%20reports%20first%20underwriting%20profit%20since%202006%20but%20hit%20by%20investment%20losses&WT_rss_f= |access-date=2025-03-25 |website=www.postonline.co.uk |language=en}} This was followed by a sustained period of underwriting profitability for six years, from 2015 to 2020. Subsequently, the business faced three years of underwriting losses between 2021 and 2023. In 2024, the business returned to underwriting profit, reporting £168 million.

In evidence given to Parliament, NFU Mutual has stated that it has between 65% and 75% of the UK farm insurance market.{{Cite web |last=House of Lords, UK Parliament |first=EU Energy and Environment Sub-Committee Responding to price volatility: creating a more resilient agricultural sector Written and Oral Evidence |date=3 February 2016 |title=Oral Evidence (QQ 64-73), EU Agriculture, Fisheries, Environment and Energy Sub-Committee |url=https://www.parliament.uk/documents/lords-committees/eu-energy-environment-subcommittee/agricultural-risk/AgriResEVol.pdf}}

NFU Mutual states it reduces renewing premium depending on how long a policyholder has been insured with the business; claimed saving ranges from 5.5% in the first year of renewal up to 10.5% in the fifth year of renewal.

NFU Mutual also shared £71m of Mutual Investment Bonus in 2024 to eligible With-Profits customers.

The NFU Mutual has asked the Prudential Regulation Authority to reduce the scale of reserves required for it under Solvency II Regulations. This is still in place for NFU Mutual.BANK OF ENGLAND PRUDENTIAL REGULATION AUTHORITY, WRITTEN NOTICE Transitional Measure on Technical Provisions, Reference Number: 2248979 Date: 27 November 2015 In 2022, NFU's Mutual solvency ratio was 218%.{{Cite web |title=NFU Mutual Report and Accounts 2022 |url=https://www.nfumutual.co.uk/globalassets/about-us/agm/agm-2023/reports-and-accounts-2022.pdf}}

In 2022, the Financial Reporting Council reviewed the accounting practices of NFU Mutual, asking for:

"further information about the insurer’s potential exposure to claims for business interruption (BI) due to the Covid-19 pandemic and its approach to accounting for, and the disclosure of, a related potential group action threatened against the company"

The management and conduct of the business is done under the authority of the members/policyholders who are senior to the directors and executives and may dismiss them.{{Cite web|url=https://publications.parliament.uk/pa/cm199899/cmselect/cmtreasy/605/9062913.htm|title=House of Commons - Treasury - Minutes of Evidence|website=publications.parliament.uk}}

There are around 900,000 members of the NFU Mutual.{{Cite web |title=The NFU and NFU Mutual |url=https://www.nfuonline.com/about-us/the-nfu-and-nfu-mutual/ |access-date=22 April 2022 |website=www.nfuonline.com}} As NFU Mutual has no shareholders, a proportion of its profits, if any, are returned to policyholder members in the form of an adjustment on quoted premiums of renewing customers. A discount of between 5.5% and 10.5% (2025/26) is asserted by the Mutual which the business brands "Mutual Bonus".{{Cite web |title=Mutual Bonus |url=https://www.nfumutual.co.uk/about-us/mutual-bonus/ |access-date=2025-04-30 |website=Mutual Bonus - Insurance Loyalty Program {{!}} NFU Mutual |language=en}}

Under NFU Mutual's articles of association,{{Cite web | url=https://find-and-update.company-information.service.gov.uk/company/00111982/filing-history/MzA0MDA1NTMyMWFkaXF6a2N4/document?format=pdf&download=0 | title=The Companies Act 2006 | date=1998-12-17| website=find-and-update.company-information.service.gov.uk}} each policy generates a distinct right to speak and vote at the Annual General Meeting (AGM), scrutinise the accounts, and hold the management to account, as well as an ownership right in the business.{{Cite web |title=AGM |url=https://www.nfumutual.co.uk/about-us/agm/ |access-date=22 April 2022 |website=NFU Mutual AGM - Get involved in our governance and vote {{!}} NFU Mutual}} The AGM has generally been held at the British Motor Museum at Gaydon, Warwickshire and is open to all policyholder members.{{Cite web |title=AGM |url=https://www.nfumutual.co.uk/about-us/agm/ |access-date=2022-09-12 |website=NFU Mutual AGM - Get involved in our governance and vote {{!}} NFU Mutual |language=en}} In 2024 it was moved to a Leonardo's Hotels venue off the M69,{{Cite web | title=NFU Mutual AGM - Get involved in our governance and vote {{!}} NFU Mutual | url=https://www.nfumutual.co.uk/globalassets/about-us/agm/agm-2024/agm-faqs.pdf | access-date=2025-05-19 | website=www.nfumutual.co.uk}} and in 2025 the venue was transferred to the head office building in the village of Tiddington.{{Cite web | publisher=NFU Mutual | year=2025 | title=Notice of Annual General Meeting 2025 | url=https://epi-prod.nfumutual.co.uk/globalassets/about-us/agm/agm-2025/notice-of-meeting-2025.pdf}}File:Chair of NFU MUTUAL Jim McClaren.jpg

Board members "are responsible for the overall direction of the Company and setting the Company's values and standards".{{Cite web |title=The Board |url=https://www.nfumutual.co.uk/about-us/our-board-and-executive-team/the-board/ |access-date=2022-11-24 |website=Introducing our Board and Executive Team {{!}} NFU Mutual |language=en}} As of Spring 2023, it consisted of the following people:

• Jim McLaren MBE (chair),{{Cite web |title=A message from Jim McLaren MBE, Farmer and Chairman of NFU Mutual |url=https://www.samaritans.org/support-us/campaign/real-people-real-stories-rural-communities/jim-mclaren/ |access-date=2023-04-15 |website=Samaritans |language=en-GB}} a farmer from Scotland
• Nick Turner (CEO),{{Cite web |title=NFU Mutual's group chief executive announces impending retirement |url=https://www.insurancebusinessmag.com/uk/news/breaking-news/nfu-mutuals-group-chief-executive-announces-impending-retirement-235049.aspx |access-date=2023-04-15 |website=www.insurancebusinessmag.com |language=en}} formally held offices at AXA
• Richard Morley (Finance Director),{{Cite web |title=Richard Morley |url=https://tiah.org/our-board/richard-morley/ |access-date=2023-04-15 |website=The Institute for Agriculture and Horticulture |language=en-GB}} held positions at Lloyds Banking Group where he was finance director of the bank's international financial services business at the time of the 2008 financial crisis
• Rachel Kelsall{{Cite web |last=Pangilinan |first=Mika |title=NFU Mutual names new customer service director |url=https://www.insurancebusinessmag.com/uk/news/breaking-news/nfu-mutual-names-new-customer-service-director-428693.aspx |access-date=2023-03-24 |website=www.insurancebusinessmag.com |language=en}} (Customer Services Director), a former head of compliance
• Nick Watson{{Cite web |title=New face on board at rural insurer |url=https://www.somersetcountygazette.co.uk/farmer/19164991.nfu-mutual-appoint-nick-watson-board-sales-agency-director/ |access-date=2023-03-24 |website=Somerset County Gazette |date=17 March 2021 |language=en}} (Sales & Agency Director) joined NFU Mutual from AXA

Non-executive directors are:

• John Deane{{Cite web |title=Looking after the scheme |url=https://www.nfumstaffpensions.co.uk/looking-after-the-scheme |access-date=2023-04-15 |website=www.nfumstaffpensions.co.uk}} sometime CEO of Chesnara who has served as a board member of Atom Bank, Royal London Group, Old Mutual, and Century Life;
• Ali Capper{{Cite web |title=Ali Capper |url=https://stocksfarm.net/about/ali-capper/ |access-date=2023-04-15 |website=Stocks Farm |language=en-US}} a director of the Oxford Farming Conference, a Nuffield scholar and an advertising operative
• Jon Bailie{{Cite web |title=NFU Mutual adds to board of directors |url=https://www.insurancebusinessmag.com/uk/news/breaking-news/nfu-mutual-adds-to-board-of-directors-98036.aspx |access-date=2023-04-15 |website=www.insurancebusinessmag.com |language=en}} Senior Independent Director formally held office at AXA
• David Roper{{Cite web |title=NFU Mutual adds PwC veteran to board of directors |url=https://www.insurancebusinessmag.com/uk/news/breaking-news/nfu-mutual-adds-pwc-veteran-to-board-of-directors-176050.aspx |access-date=2023-04-15 |website=www.insurancebusinessmag.com |language=en}} also the Senior Independent Director of Atom Bank and is also Chair of the National Youth Choirs of Great Britain
• David Smith{{Cite web |title=The Board |url=https://www.nfumutual.co.uk/about-us/our-board-and-executive-team/the-board/ |access-date=2023-04-15 |website=Introducing our Board and Executive Team {{!}} NFU Mutual |language=en}} currently Chair of Altitude Plc
• Alan Fairhead{{Cite web |last=Walker |first=Alastair |date=2020-11-03 |title=Latest Insurance Industry Appointments 03.11.2020. - |url=http://insurance-edge.net/2020/11/03/latest-insurance-industry-appointments-03-11-2020/ |access-date=2023-04-15 |website=insurance-edge.net |language=en-US}} held offices in Zurich Insurance Group
• Sarah Simpson{{Cite web |last=Osborne-Sherlock |first=Eva |date=2024-07-27 |title=NFU Mutual appoints new non-executive director |url=https://www.agriland.co.uk/farming-news/nfu-mutual-appoints-new-non-executive-director/ |access-date=2025-03-16 |website=Agriland.co.uk |language=en-GB}}

On 1 April 2023 Elizabeth Buchanan joined the board of NFU Mutual as a non-executive director,{{Cite web |title=The Board |url=https://www.nfumutual.co.uk/about-us/our-board-and-executive-team/the-board/ |access-date=2023-04-04 |website=Introducing our Board and Executive Team {{!}} NFU Mutual |language=en}} however, she resigned just over 6 months later.{{Cite journal |title=NFU Mutual |url=https://www.nfumutual.co.uk/globalassets/about-us/agm/agm-2024/2023-reports-and-accounts.pdf |journal=Annual Report & Accounts 2023}}

NFU Mutual's current Group Head of Legal and Company Secretary is Sian Johns,{{Cite web |title=Trustees |url=https://www.nfumutual.co.uk/about-us/charitable-trust/trustees/ |access-date=2025-03-16 |website=The NFU Mutual Charitable Trust Trustees {{!}} NFU Mutual |language=en}} who took over from Jim Creechan {{Cite web |title=Trustees |url=https://www.nfumutual.co.uk/about-us/charitable-trust/trustees/ |access-date=2022-11-24 |website=The NFU Mutual Charitable Trust Trustees {{!}} NFU Mutual |language=en}} during 2024.

Bev Mitchell is Marketing and Digital Director and Kenny Graves is HR Director. Gina Fusco, and Trisha Jones{{Cite web |title=NFU Mutual's Gina Fusco appointed as Chair of the ICMIF Intelligence Committee |url=https://www.icmif.org/news_story/nfu-mutuals-gina-fusco-appointed-as-chair-of-the-icmif-intelligence-committee/ |access-date=2023-04-15 |website=International Cooperative and Mutual Insurance Federation |language=en-GB}} lately held these roles respectively.

In the 2021 report, there was a gender pay gap of 24.5% based on hourly wage (mean). The bonus gap is 50.9% (mean).{{Cite web |title=NFU Mutual Gender Pay Gap Report 2021 |url=https://www.nfumutual.co.uk/globalassets/about-us/nfum-gender-pay-brochure21.pdf}}

NFU Mutual was written to by the Equalities Minister in 2018 about its non-engagement with the Women in Finance Charter, which it later signed the same year.{{Cite web|url=https://www.nfumutual.co.uk/about-us/women-in-finance-charter/|title=Women in Finance Charter|website=Women in Finance Charter | NFU Mutual}}

In 2022, NFU Mutual announced a carbon reduction strategy relating to its own operations. Targets include a 25% reduction in the business's own emissions by 2025 and a 50% reduction by 2030. To support this, NFU Mutual said it aims to maintain 100% renewable electricity purchase for its occupied premises. For its investments, the insurer is targeting a 50% emissions reduction in its equity and corporate bond portfolio by 2030.{{Cite web |last=Olano |first=Gabriel |title=NFU Mutual lays out plans to achieve net zero |url=https://www.insurancebusinessmag.com/uk/news/environmental/nfu-mutual-lays-out-plans-to-achieve-net-zero-323178.aspx |access-date=1 February 2022 |website=www.insurancebusinessmag.com}}

In 2020, Ethical Consumer criticised NFU Mutual for "just talking about the climate impact of their offices" rather than the "far more significant impact of their investments". NFU Mutual responded saying: "We avoid areas we consider harmful such as predatory lenders, certain munitions, and climate-unfriendly companies with no plans to help decarbonisation."{{Cite web |date=24 November 2020 |title=Insurance industry 'in denial' over its impact on climate change, study claims |url=https://www.independent.co.uk/money/insurers-climate-change-investments-environment-fossil-fuels-carbon-b1760885.html |url-access=subscription |url-status=live |archive-url=https://ghostarchive.org/archive/20220618/https://www.independent.co.uk/money/insurers-climate-change-investments-environment-fossil-fuels-carbon-b1760885.html |archive-date=18 June 2022 |access-date=25 February 2021 |website=The Independent}}File:NFU Mutual Building, Tiddington - geograph.org.uk - 90824.jpg

NFU Mutual offers: personal, business,{{cite web |title=General Insurance |url=https://www.nfumutual.co.uk/insurance/ |access-date=19 December 2021}} and insurance.{{Cite web |title=Home |url=https://www.nfumutual.co.uk/ |access-date=2023-04-14 |website=NFU Mutual Insurance UK {{!}} National Farmers Union Mutual Insurance Society |language=en}} They specialise in agriculture-linked insurance. They als offer life insurance products, and income protection through AIG.{{Cite web |title=Life Cover and Protection |url=https://www.nfumutual.co.uk/financial-planning/life-cover/ |access-date=16 March 2022 |website=NFU Mutual}} The business also offers various investment and pension products, and sells financial advice and inheritance tax planning.{{Cite web |title=Financial Planning |url=https://www.nfumutual.co.uk/financial-planning/ |access-date=16 March 2022 |website=NFU Mutual}}

NFU Mutual is linked with main farming unions of the UK, and makes financial contributions to the UK farming unions: around £8.7million in 2024.

NFU Mutual sells policies predominantly through a network of agents. At the end of 2018, NFU Mutual had over 3,800 employees, and 654 agents working out of 310 offices.{{Cite web |title=Report and Accounts 2018 |url=https://www.nfumutual.co.uk/globalassets/about-us/agm/agm-2019/nfu-mutual-report-and--accounts-2018.pdf |access-date=11 May 2019 |website=NFU Mutual |pages=1, 7, 32, 76}}

In 2021, NFU Mutual bought a unit near Milnrow for £27 million,{{Cite web |date=23 July 2021 |title=Place North West {{!}} NFU Mutual snaps up Rochdale's Amazon hub |url=https://www.placenorthwest.co.uk/news/nfu-mutual-snaps-up-rochdales-amazon-hub/ |access-date=12 December 2021 |website=Place North West}} and also committed to spending £100 million on six sheds near Clowes.{{Cite web |last=Pegden |first=Tom |date=10 May 2021 |title=NFU Mutual and Clowes partner on £100m of warehousing |url=https://www.business-live.co.uk/commercial-property/nfu-mutual-clowes-developments-partner-20561615 |access-date=12 December 2021 |website=Business Live}} Also in 2021, NFU Mutual's plans to invest in a warehouse in Witney attracted over 190 objections.{{Cite web |date=6 December 2021 |title=Decision coming on 'completely unacceptable' warehouse development near homes |url=https://www.oxfordmail.co.uk/news/19760320.decision-coming-completely-unacceptable-warehouse-development-near-homes/ |access-date=12 December 2021 |website=Oxford Mail}} NFU Mutual responded saying the warehouses would create 150 jobs that will benefit the local economy and will add much-needed high-quality space to the area.{{Cite web |date=8 April 2022 |title=Final phase of warehouse project handed £26m boost |url=https://www.oxfordmail.co.uk/news/20052601.warehouses-downs-road-witney-handed-26m-boost/ |access-date=2023-03-28 |website=Oxford Mail |language=en}} In April 2022 NFU Mutual's management allocated in excess of a further £20 million of members' funds to this speculative investment with its commercial partner Tungsten.{{Cite web |title=NFU Mutual forward funds UK warehouse project |url=https://propertyeu.info/Nieuws/NFU-Mutual-forward-funds-UK-warehouse-project/12f1a635-6390-48ed-9b0c-aa4ceebfdb06 |access-date=9 April 2022 |website=PropertyEU News}}{{Cite web |date=5 April 2022 |title=NFU Mutual Forward Funds Tungsten Speculative Industrial |url=https://www.costar.com/article/1649528112/nfu-mutual-forward-funds-tungsten-speculative-industrial |access-date=9 April 2022 |website=CoStar}}

In March 2022, plans were announced to build a speculative £34 million shed in Staffordshire.{{Cite web |date=3 March 2022 |title=Joint venture to fund speculative Staffordshire shed |url=https://www.logisticsmanager.com/joint-venture-to-fund-speculative-staffordshire-shed/ |access-date=10 March 2022 |website=Logistics Manager}} Work has since begun on the shed.{{Cite web |date=2022-08-15 |title=Work starts on 330,000 sq ft logistics scheme |url=https://www.thebusinessdesk.com/westmidlands/news/2066641-work-starts-on-330000-sq-ft-logistics-scheme |access-date=2022-08-17 |website=TheBusinessDesk.com |language=en}} In April 2022, a shed was traded with Valor for £50 million.{{Cite web |last=McGuire |first=Laura |date=2022-04-22 |title=Valor acquires Birmingham logistics unit for £50m |url=https://www.propertyweek.com/news/valor-acquires-birmingham-logistics-unit-for-50m/5120045.article |access-date=2022-04-23 |website=Property Week |language=en}}

In July 2022, NFU Mutual sold eight warehouses to American-based investment firm Barings LLC for £234 million{{Cite web |date=2022-07-28 |title=Barings buys Countryside's Warrington factory site |url=https://www.placenorthwest.co.uk/barings-acquires-countrysides-warrington-factory-site/ |access-date=2022-07-30 |website=Place North West |language=en-GB}} and the negotiations were described as "contentious" when the deal completed in 2023.{{Cite web |title=Barings and NFU Mutual reach settlement over contentious £235m deal |url=https://reactnews.com/article/barings-and-nfu-mutual-reach-settlement-over-contentious-235m-deal/ |access-date=2023-07-19 |website=React News |language=en-US}} The property was subsequently sold within two years; the new ownership reported achieving a significant profit following a 20% increase in the asset's income during their relatively brief holding period.{{Cite web |last=Tague |first=Neil |date=2025-05-07 |title=Barings offloads quartet of sheds to JV |url=https://www.placenorthwest.co.uk/barings-offloads-quartet-of-sheds-to-jv/ |access-date=2025-05-28 |website=Place North West |language=en-GB}}

In October 2022, along with partners Apache, NFU Mutual obtained a loan of £70 million from Deutsche Bank to finance a £150 million build-to-rent development in Liverpool.{{Cite web |date=6 October 2022 |title=Deutsche Bank Refinances £115 Million Liverpool Build-to-Rent Development |url=https://www.costar.com/article/305598590/deutsche-bank-refinances-%C2%A3115-million-liverpool-build-to-rent-development |access-date=2022-10-07 |website=www.costar.com}} A 325 rental-home unit neighbourhood in Liverpool was funded with NFUM capital and loans and opened in late 2022.{{Cite news |last=Jay@TheGuide |date=2022-12-16 |title=35-storey residential building, MODA, The Lexington reaches full capacity |url=https://theguideliverpool.com/35-storey-residential-building-moda-the-lexington-reaches-full-capacity/ |access-date=2022-12-19 |website=The Guide Liverpool |language=en-GB}} It is reported to be the UK's largest build to rent project.{{Cite web |last=Biring |first=Nick |date=2023-03-30 |title=Harrison Street expands BTR JV with Apache and NFU Mutual for Moda scheme |url=https://btrnews.co.uk/harrison-street-expands-btr-jv-with-apache-and-nfu-mutual-for-moda-scheme/ |access-date=2023-04-04 |website=BTR News |language=en-US}}

In May 2023, it was revealed that the business was to sell another £90 million worth of real estate assets.{{Cite web |last=Borland |first=Chris |title=NFU Mutual kicks off £90m logistics sale |url=https://reactnews.com/article/nfu-mutual-kicks-off-90m-logistics-sale/ |access-date=2023-05-28 |website=React News |language=en-US}}

NFU Mutual liquidated retail assets in London in 2023; 24 Old Bond Street was sold for £141 million;{{Cite web |title=24 OLD BOND STREET ACQUIRED BY UNITY RE |url=https://news.cbre.co.uk/24-old-bond-street-acquired-by-unity-re/ |access-date=2023-08-14 |website=24 OLD BOND STREET ACQUIRED BY UNITY RE |language=en}} 3/5 Bond Street was sold for £151 million.{{Cite web |title=Latest News – Chapman Petrie |url=https://www.chapman-petrie.co.uk/news/ |access-date=2023-08-14 |language=en-US}}

In 2024, the business spent £20 million on another office building.{{Cite web |title=NFU Mutual buys £20m Birmingham office |url=https://reactnews.com/article/nfu-mutual-buys-20m-birmingham-office/ |access-date=2024-01-11 |website=React News |language=en-US}}

In 2025, the business closed its headquarters in Belfast and placed it on the market for £5 million; at the time over 60% of the rental area was vacant.{{Cite web |date=2025-03-12 |title=NFU Mutual put Belfast office headquarters on the market for £5m |url=https://www.irishnews.com/news/business/nfu-mutual-put-belfast-office-headquarters-on-the-market-for-5m-A3BDIIVI7ZBWVISR6LQ6XPOJGM/ |access-date=2025-03-12 |website=The Irish News |language=en}} It also confirmed it was closing part of its office accommodation in its Stratford headquarters territory.{{Cite web |date=2024-11-14 |title=NFU Mutual confirms it’s moving out of Ryon Hill offices |url=https://www.stratford-herald.com/news/nfu-mutual-confirms-its-moving-out-of-ryon-hill-offices-9391790/ |access-date=2025-03-12 |website=Stratford Herald |language=en}} It also disposed of over £100 million of logistics assets in an off-market deal.{{Cite web |last=Cooper |first=Anna |date=2025-03-05 |title=Trio of logistics assets fetch £100m+ for NFU Mutual {{!}} TheBusinessDesk.com |url=https://www.thebusinessdesk.com/westmidlands/news/2095376-trio-of-logistics-assets-fetch-100m-for-nfu-mutual |access-date=2025-03-12 |website=West Midlands |language=en}}

The business lists the following active subsidiaries:{{Cite web |title=Company Information |url=https://www.nfumutual.co.uk/about-us/company-information/ |access-date=2023-07-29 |website=Read our Company Information here {{!}} NFU Mutual |language=en}}

• N.F.U. Mutual Unit Managers Limited: (No. 1837277). Registered in England. Registered Office: Tiddington Road, Stratford upon Avon, Warwickshire CV37 7BJ. Authorised corporate director of The NFU Mutual OEIC.
• The NFU Mutual OEIC: (No. IC000220) An investment company with variable capital incorporated in England. Authorised by the Financial Conduct Authority. Financial Services Register number 407816.
• The NFU Mutual Portfolio Funds OEIC: (No. IC000745) An investment company with variable capital incorporated in England. Authorised by the Financial Conduct Authority. Financial Services Register number 496718.
• NFU Mutual Select Investments Limited: (No. 8049488) Authorised by the Financial Conduct Authority. Financial Services Register number 582519
• Risk Management Services: NFU Mutual Risk Management Services Ltd. is a health and safety company set up in 1997.{{Cite web |title=Risk Management Services |url=https://www.nfumutual.co.uk/business/risk-management/ |access-date=2022-09-30 |website=Risk Management & Health and Safety {{!}} NFU Mutual |language=en}} NFU members receive a discount on some Risk Management Services through Union Advantage.{{Cite web |title=Farm Safety: Risk Management |url=https://www.nfuonline.com/nfu-professional-services/farm-safety-risk-management/ |access-date=2022-09-30 |website=www.nfuonline.com |language=en-gb}}

NFU Mutual acquired the Islands Insurance Group in 1987, providing access to NFU Mutual products for customers in the Channel Islands.{{Cite web |date=28 May 2019 |title=About us |url=https://www.islands.insure/about-us/ |access-date=19 December 2021 |website=Islands Insurance Group}}

Avon Insurance was established in 1925 to provide insurance to non-farming customers.{{Cite web |title=About Avon Insurance |url=http://www.avon-insurance.co.uk/about-avon-insurance/index.html |access-date=11 May 2019 |website=Avon Insurance}} The establishment of this enterprise was opposed by the NFU hierarchy and the NFU Mutual directors were required to agree that they would "consult on such matters in future". Business increased in the 1970s at 25–30% each year, and Avon opened an underwriting room near Lloyd's insurance market in 1977. In 1975, Avon became one of the first companies to introduce index-linking of sums insured to protect customers against inflation. Avon closed to new business in 2013.{{Cite web |title=Avon Insurance plc: Annual Report 2018 |url=https://beta.companieshouse.gov.uk/company/00209606/filing-history/MzIzMzQ1NTc1M2FkaXF6a2N4/document?format=pdf&download=0 |access-date=11 May 2019 |website=Companies House}}

In 1929, NFU Mutual bought another farming insurance company, Northern Farmers. Between 1948 and 1974, NFU Mutual had operations alongside unions in Central and East Africa, including what was then known as Rhodesia and Kenya. Operations in Kenya ceased in 1964 and Rhodesia in 1974.

File:You Are Being Watched - geograph.org.uk - 1490761.jpg

NFU Mutual set up a Charitable Trust in 1998 for the elevating of need concerned with 'agriculture, rural development and insurance.'{{Cite web |title=The NFU Mutual Charitable Trust |url=https://www.nfumutual.co.uk/about-us/charitable-trust/ |access-date=2022-09-30 |website=NFU Mutual Charitable Trust: What do we do {{!}} NFU Mutual |language=en}}

In the past 24 years the independent charity has distributed funds averaging around £250,000 per year.{{Cite web |title=Recent Initiatives |url=https://www.nfumutual.co.uk/about-us/charitable-trust/recent-initiatives/ |access-date=20 December 2021 |website=NFU Mutual}}

In 2014, NFU Mutual set up the Farm Safety Foundation, an independent charity. It is concerned with education of young farmers,{{Cite web |last=stephanie_berkeley_zl4u2oa9 |title=Farm Safety Foundation |url=https://www.yellowwellies.org/farm-safety-foundation/ |access-date=2022-09-30 |website=YellowWellies.org |language=en-US}} as well as eliminating avoidable deaths and addressing mental health issues.{{Cite web |date=2022-02-14 |title=Farmers encouraged to 'open up' for Mind Your Head week |url=https://www.fwi.co.uk/farm-life/health-and-wellbeing/farmers-encouraged-to-open-up-for-mind-your-head-week |access-date=2022-09-30 |website=Farmers Weekly |language=en-US}}

NFU Mutual mandates an agency giving structure where local offices distribubute a portion of a central fund to charities in their local communities.{{Cite web |title=The NFU Mutual Agency Giving Fund |url=https://www.nfumutual.co.uk/about-us/the-nfu-mutual-agency-giving-fund/ |access-date=2022-10-03 |website=Find out about our Agency Giving Fund {{!}} NFU Mutual |language=en}}

The busines issues an annual Rural Crime report based on its claims data.{{Cite web |title=Rural Crime Report 2022 |url=https://www.nfumutual.co.uk/farming/rural-crime/ |access-date=2022-09-26 |website=Rural Crime Report 2022 - Download Free Report {{!}} NFU Mutual |language=en}}

Since 2016, NFU Mutual has produced an annual responsible business report.{{Cite web |title=nfum-responsiblebusiness {{!}} Responsible Business |url=https://www.nfum-responsiblebusiness.co.uk/ |access-date=2023-03-23 |language=en-GB}}

During World War II, Arthur Scarf, an employee was awarded a posthumous Victoria Cross.

File:Official portrait of Lord Curry of Kirkharle crop 2.jpg

A former chairman of NFU Mutual is Lord Curry of Kirkharle.

Harold Woolley, Baron Woolley was a director retiring in the 1980s.{{Cite web | title=Financial Times, 1980, UK, English| url=https://archive.org/stream/FinancialTimes1980UKEnglish/Feb%2002%201980%2C%20Financial%20Times%2C%20%2328083%2C%20UK%20%28en%29_djvu.txt | format=TXT}}

In Smith (Leah) v National Farmers Union Mutual Insurance Society Limited and Robinsons Services Limited [2019] NIQB 37, the company denied liability for an accident sustained during an employee's attendance at work, but the court found against the company.{{Cite web |date=3 May 2019 |title=[2019] NIQB 37 |url=https://www.judiciaryni.uk/judicial-decisions/2019-niqb-37 |access-date=15 April 2021 |website=Judiciary NI}}

NFU Mutual was involved in a winding-up petition that concerned Quay Street Limited in a 2020 UK Companies Court case.{{Cite web |title=National Farmers Union Mutual Insurance Society Limited T/A NFU Mutual - Caseboard |url=https://caseboard.io/cases/c0ae5c5e-a7d6-4146-bef9-fac321849973 |access-date=2025-04-07 |website=caseboard.io}}

In 2017, Preston-based law firm Barber & Co were ordered to pay costs to NFU Mutual after the firm represented a claimant in an injury case without instruction. Barber & Co lost the case and HHJ Peter Hughes referred the case onto the Solicitors Regulation Authority, Lancashire Police and the Crown Prosecution Service for further action. The law firm claimed the case was the result of "two non-qualified fee earners creating false documentation."{{Cite web |last=Dyson |first=Ben |date=2017-07-25 |title=Law firm faces fraud probe after losing NFU Mutual court battle |url=https://www.insurancetimes.co.uk/law-firm-faces-fraud-probe-after-losing-nfu-mutual-court-battle/1422123.article |access-date=2023-03-23 |website=Insurance Times |language=en}}

In 2016, NFU Mutual denied liability for a £128,000 bill for damage to a cottage from a burst water pipe. NFU Mutual lost the case and was ordered by Mr Justice Holgate to pay £100,000 in legal costs on top of the damage.{{Cite web |title=Judge rules tenants are covered by landlord's policy in NFU legal defeat |url=https://www.insurancetimes.co.uk/judge-rules-tenants-are-covered-by-landlords-policy-in-nfu-legal-defeat-/1417300.article |access-date=2 April 2021 |website=Insurance Times}}

In Maritsave Ltd v National Farmers Union Mutual Insurance Society Ltd [2011] EWHC 1660 (QB) lost a case, having incorrectly denied an insurance claim following a fire: the court found they failed to prove a policy breach, and ordered them to pay Maritsave Ltd.'s claim and damages.{{Cite web |title=Maritsave Ltd v National Farmers Union Mutual Insurance Society Ltd., [2011] EWHC 1660 (QB) {{!}} England and Wales High Court (Queen's Bench Division), Judgment, Law, casemine.com |url=https://www.casemine.com/judgement/uk/5a8ff77560d03e7f57eac94a |access-date=2025-04-07 |website=www.casemine.com |language=en}}

In 2010, NFU Mutual sought compensation from HSBC towards fire damage to a property on the basis of double insurance but the judge agreed with HSBC and NFU Mutual was liable for the full extent of the claim.{{Cite web |title=NFU v HSBC |url=https://www.pinsentmasons.com/out-law/guides/nfu-v-hsbc |access-date=15 April 2021 |website=Pinsent Masons}}

NFU Mutual has been a defendant/party{{Cite web |title=You searched for NFU Mutual |url=https://www.judiciary.uk/?s=NFU+Mutual&post_type=any&order=relevance&after-day=&after-month=&after-year=&before-day=&before-month=&before-year= |access-date=2025-03-16 |website=Courts and Tribunals Judiciary |language=en-US}} in a number of contested cases where anonymity orders have been sought:

• JXZ -v- NFU Mutual Insurance Society Limited{{Cite web |date=2024-12-09 |title=JXZ -v- NFU Mutual Insurance Society Limited (anonymity order) |url=https://www.judiciary.uk/judgments/jxz-v-nfu-mutual-insurance-society-limited-anonymity-order-2/ |access-date=2025-03-16 |website=Courts and Tribunals Judiciary |language=en-US}}
• SS1 -v- Retter{{Cite web |date=2020-06-12 |title=SS1 -v- Retter (anonymity order) |url=https://www.judiciary.uk/judgments/ss1-v-retter-anonymity-order/ |access-date=2025-03-16 |website=Courts and Tribunals Judiciary |language=en-US}}
• JSV -v- AGC and another{{Cite web |date=2024-06-19 |title=JSV -v- AGC and another (anonymity order) |url=https://www.judiciary.uk/judgments/jsv-v-agc-and-another-anonymity-order/ |access-date=2025-03-16 |website=Courts and Tribunals Judiciary |language=en-US}}
• TXX -v- DLL, National Farmers’ Union Mutual Insurance and others{{Cite web |date=2025-01-03 |title=TXX -v- DLL, National Farmers' Union Mutual Insurance and others (anonymity order) |url=https://www.judiciary.uk/judgments/txx-v-dll-national-farmers-union-mutual-insurance-and-others-anonymity-order/ |access-date=2025-03-26 |website=Courts and Tribunals Judiciary |language=en-US}}

NFU Mutual also currently has a live dispute about land ownership before the court.{{Cite web |title=The National Farmers Union Mutual Insurance Society Limited v Saffron Hill Investment Holdings Limited - Caseboard |url=https://caseboard.io/cases/640b3252-82a6-4ca9-b113-5c52271ece8d |access-date=2025-04-07 |website=caseboard.io}}

In 2011, employee Gordon Murray was jailed for his fraud on the members of £400,000.{{Cite news |date=12 July 2011 |title=Fraud expert Gordon Murray jailed over £410,000 fraud |work=BBC News |url=https://www.bbc.co.uk/news/uk-scotland-glasgow-west-14120503}}{{Cite web |date=21 July 2011 |title=NFU fraud manager jailed for £410 000 scam |url=https://www.postonline.co.uk/claims/2095428/nfu-fraud-manager-jailed-for-ps410-000-scam}}

In 2018, Iain Wishlade also an NFU employee, was jailed for submitting a fraudulent payment request from his business LDK Ltd to NFU Mutual.{{Cite news |date=23 June 2018 |title=Man accused of defrauding three Burton firms of £129,000 |newspaper=Derbyshirelive |url=https://www.derbytelegraph.co.uk/burton/man-accused-defrauding-three-burton-1655487}}

File:NFU Mutual, Usk - geograph.org.uk - 2883103.jpg

File:NFU Mutual York Office - geograph.org.uk - 3234130.jpg

{{main|Financial Conduct Authority v Arch Insurance (UK) Ltd & others}}

When the coronavirus pandemic emerged (December 2019{{Cite web |last=CDC |date=2024-07-08 |title=CDC Museum COVID-19 Timeline |url=https://www.cdc.gov/museum/timeline/covid19.html |access-date=2025-04-02 |website=Centers for Disease Control and Prevention |language=en-us}}) and subsequently triggered lockdowns (March 2020{{Cite web |date=2025-03-21 |title=COVID-19 business interruption claims – the clock is ticking! |url=https://www.mishcon.com/news/covid-19-business-interruption-claims-the-clock-is-ticking |access-date=2025-03-26 |website=Mishcon de Reya LLP |language=en}}) NFU Mutual said it was not going to pay any claims on policies.{{Cite web |date=2020-04-09 |title=NFU Mutual {{!}} Insurance & Investment for rural communities & businesses |url=https://web.archive.org/web/20200409090800/https://www.nfumutual.co.uk/ |access-date=2025-04-02 |website=web.archive.org}}

This position was considered not to be accurate by policyholders. In April 2020 an NFU Mutual customer questioned the insurer's position on business interruption in evidence to the House of Commons Treasury Select Committee.{{Cite journal |last=House of Commons |date=April 2020 |title=Written Evidence to the Treasury Select Committee |url=https://committees.parliament.uk/writtenevidence/6503/pdf/ |journal=Treasury Select Committee}}

NFU Mutual later changed its possition, and invited policyholders to claim for cancelation of advanced bookings coverage{{Cite web |date=2023-02-01 |title=NFU Mutual policyholders invited to claim after Covid cover complaints upheld - Insurance Post |url=https://www.postonline.co.uk/claims/7952798/nfu-mutual-policyholders-invited-to-claim-after-covid-cover-complaints-upheld |access-date=2025-04-01 |website=www.postonline.co.uk |language=en}} and did accept some claims under its Home and Lifestyle policies.{{Cite web |date=2025-01-23 |title=NFU Mutual sticks to its guns in coverage dispute - Insurance Post |url=https://www.postonline.co.uk/commercial/7956956/nfu-mutual-sticks-to-its-guns-in-coverage-dispute#:~:text=NFU%20Mutual%20has%20previously%20accepted,for%20Covid-related%20booking%20cancellations. |access-date=2025-04-01 |website=www.postonline.co.uk |language=en}}

Commenting on the situation, the Professional Association of Self-Caterers said:

[NFU Mutual has] had a challenging Covid [of which this latest] joint action against NFU for failure to pay out under Business Interruption [is yet another part]. Their cheaper Home and Lifestyle policy paid out for Covid, but the more expensive policy did not [pending the outcome of the litigation]{{Cite web | url=https://www.pascuk.co.uk/wp-content/uploads/2022/02/4-February-PASC-UK-Newsletter.pdf | title=Covid newsletter | date=2022-02-04 | issue=95}}

Following the appeal to the UK Supreme Court (delivered January 2021{{Cite web |date=2016-08-17 |title=Supreme Court judgment in FCA’s business interruption insurance test case |url=https://www.fca.org.uk/news/press-releases/supreme-court-judgment-business-interruption-insurance-test-case#:~:text=Supreme%20Court%20judgment%20in%20FCA's%20business%20interruption%20insurance%20test%20case,-Press%20Releases%20First&text=The%20Supreme%20Court%20has%20today,appeal%20on%20behalf%20of%20policyholders. |access-date=2025-03-25 |website=FCA |language=en-GB}}) NFU Mutual published a statement saying it continued to feel it had no liability to meet claims for COVID-19 related business interruption.{{Cite web |title=Business Interruption |url=https://www.nfumutual.co.uk/news-and-stories/fca-business-interruption/ |access-date=2023-03-23 |website=Business Interruption {{!}} NFU Mutual |language=en}} Following the UK Supreme Court's judgment, the FCA sent a "Dear CEO Letter" on 22 January 2021, informed insurance CEOs that the ruling broadened the number of policies likely to respond to business interruption claims, increasing the expectation of further litigation to resolve remaining disputes, and urged them to acknowledge the power imbalance with policyholders to facilitate quicker, cheaper resolutions by narrowing disputes, covering reasonable costs, and not seeking their own in litigation that clarified coverage gaps.{{Cite web |last=Hodgson (UK) |first=Laura |date=2021-01-26 |title=FCA sends 'Dear CEO’ letter on business interruption insurance following the Supreme Court Test Case decision |url=https://www.regulationtomorrow.com/eu/fca-sends-dear-ceo-letter-on-business-interruption-insurance-following-the-supreme-court-test-case-decision/ |access-date=2025-04-12 |website=Global Regulation Tomorrow |language=en-US}}{{Cite web | url=https://www.fca.org.uk/publication/correspondence/dear-ceo-letter-business-interruption-insurance-january-2021.pdf | title=Business Interruption (BI) Insurance Letter to CEO| date=2021-01-22}}{{Cite web |title=Covid-19 business interruption insurance update |url=https://www.stewartslaw.com/news/covid-19-business-interruption-insurance-update/ |access-date=2025-04-12 |website=Stewarts |language=en-GB}}

Shortly afterwards, a number of policyholders went public that they considered that the NFU Mutual was not applying the law correctly and was obliged to pay out on these policies, adding that they indented to bring group litigation to compel them to meet these obligations.{{Cite web |date=2024-06-27 |title=NFU Mutual hit by lawsuit over Covid losses - Insurance Post |url=https://www.postonline.co.uk/commercial/7955822/nfu-mutual-hit-by-lawsuit-over-covid-losses |access-date=2025-03-12 |website=www.postonline.co.uk |language=en}} In pursuance of this understanding, these policyholders formed litigation group and announced plans to bring proceedings in a group action against NFU Mutual for which they instructed Penningtons Manches Cooper LLP.{{Cite web |last1=Street |first1=165 Fleet |last2=London |last3=Kingdom |first3=United |title=Penningtons Manches Cooper LLP - True Picture - Chambers Student Guide |url=https://www.chambersstudent.co.uk/penningtons-manches-cooper/true-picture/322/1 |access-date=2024-03-06 |website=www.chambersstudent.co.uk |language=en}}{{Cite web |date=3 February 2022 |title=Farm Businesses Announce Intent to Sue NFU Mutual Over Denied Insurance Claims |url=https://uk.topclassactions.com/insurance/farm-businesses-announce-intent-to-sue-nfu-mutual-over-denied-insurance-claims/ |access-date=9 April 2022 |website=Top Class Actions United Kingdom}}{{Cite web |title=Covid-19 business interruption insurance claims |url=https://www.penningtonslaw.com/expertise/commercial-dispute-resolution/group-action-litigation-and-professional-negligence/business-interruption-claims |access-date=30 January 2022 |website=www.penningtonslaw.com}}

An article in 2021 alleged that NFU Mutual was among several firms deliberately delaying COVID-19 claims to avoid pay-outs, anticipating that businesses would fail before claims needed to be settled.{{Cite web |last=Parsley |first=David |date=2021-03-30 |title=Insurers accused of 'deliberately delaying' Covid claims to avoid payouts after firms go bust |url=https://inews.co.uk/news/insurers-accused-of-deliberately-delaying-covid-19-claims-to-avoid-payouts-after-firms-go-bust-936499 |access-date=2024-07-12 |website=inews.co.uk |language=en}}

There are currently at least two live class actions being brought against NFU Mutual concerning these issues:

• In July 2024 the case South Farm Limited and others v. The National Farmers Union Mutual Insurance Society Ltd (CL-2024-000309) came to court{{Cite web |title=South Farm Limited and others v. The National Farmers Union Mutual Insurance Society Ltd - Caseboard |url=https://caseboard.io/cases/5c21c95f-0ed8-4875-b3a5-09c7a6305640 |access-date=2025-03-26 |website=caseboard.io}} with the Penningtons claimants filing their claim.{{Cite web |last=Tooley |first=David |date=2024-07-10 |title=High profile farming family at forefront of legal challenge to insurer over Covid business losses |url=https://www.shropshirestar.com/news/business/2024/07/10/high-profile-farming-family-at-forefront-of-legal-challenge-to-insurer-over-covid-business-losses/ |access-date=2024-07-12 |website=www.shropshirestar.com |language=en}} However, NFU Mutual requested a delay in the proceedings (ultimately extending the time for it to file a defence by 6 months) awaiting the decision of the Court of Appeal in International Entertainment Holdings Ltd & Others v Allianz Insurance PLC (CL-2022-000687),Various Policyholders v The National Farmers Union Mutual Insurance Society Limited [2024] EWHC 1868 (KB) (Mr Justice Andrew Baker, 18 July 2024) (Consent Order) in the event that case largely went against NFU Mutual's position.{{Cite web |last=rlkadmin |date=2024-10-29 |title=Court of Appeal unlocks new hope for Business Owners denied Business Interruption Insurance cover during COVID-19 Pandemic {{!}} |url=https://rlksolicitors.com/2024/10/29/court-of-appeal-unlocks-new-hope-for-business-owners-denied-business-interruption-insurance-cover-during-covid-19-pandemic/ |access-date=2025-05-07 |language=en-US}} As of early 2025 this litigation continues. NFU Mutual a filed a defence in January 2025 in the High Court and the matter expected to go to trial during 2025.{{Cite web |last=Guy |first=Jon |date=2024-07-16 |title=Insurer in legal battle as farmers plough on in Covid BI row |url=https://www.insurancetimes.co.uk/news/insurer-in-legal-battle-as-farmers-plough-on-in-covid-bi-row/1452468.article |access-date=2025-03-12 |website=Insurance Times |language=en}}{{Cite web |date=2025-01-23 |title=NFU Mutual sticks to its guns in coverage dispute - Insurance Post |url=https://www.postonline.co.uk/commercial/7956956/nfu-mutual-sticks-to-its-guns-in-coverage-dispute |access-date=2025-03-12 |website=www.postonline.co.uk |language=en}}
• NFU Mutual was already, in 2023, defending another class action, Innventure Limited and others v. The National Farmers Union Mutual Insurance Society Limited, associated with these kinds of liabilities which was filed in the court and served on them before the financial year end of 2023 on 22 September 2023.[https://caseboard.io/cases/e5c1da40-3462-45ee-a39c-339fdea85a75 Innventure Limited and others v. The National Farmers Union Mutual Insurance Society Limited ] This action was "recommenced" in July 2024, with a spokesman for these solicitors saying: "this historic case... seeks to provide justice to the businesses who were unfairly [treated] it’s important that all businesses receive adequate compensation for the losses they incurred.".{{Cite web |date=2024-07-25 |title=Manchester's Barings Law Advocates for Hospitality in High Court Battle Against NFU Mutual - Manchester Magazine - Positive Local News for Manchester |url=https://manchestermagazine.co.uk/manchesters-barings-law-advocates-for-hospitality-in-high-court-battle-against-nfu-mutual/ |access-date=2025-04-14 |language=en-US}} Court filings show a defence was filed for the Barings group action by NFU Mutual on 17 March 2025,{{Cite web |title=Innventure Limited and others v. The National Farmers Union Mutual Insurance Society Limited - Caseboard |url=https://caseboard.io/cases/e5c1da40-3462-45ee-a39c-339fdea85a75 |access-date=2025-03-25 |website=caseboard.io}} and the claimants' reply was filed on 23 April 2025.{{Cite web |title=Innventure Limited and others v. The National Farmers Union Mutual Insurance Society Limited - Caseboard |url=https://caseboard.io/cases/e5c1da40-3462-45ee-a39c-339fdea85a75 |access-date=2025-04-24 |website=caseboard.io}}
• Beazley Group is also facing a third legal action regarding the same disputed matters,{{Cite web|url=https://rlksolicitors.com/news-insights/court-of-appeal-unlocks-new-hope-for-business-owners-denied-business-interruption-insurance-cover-during-covid-19-pandemic|title=Court of Appeal unlocks new hope for Business Owners denied Business Interruption Insurance cover during COVID-19 Pandemic|first=Chris|last=Guy|date=29 October 2024|website=RLK Solicitors}}{{Cite web|url=http://www.reinsurancene.ws/beazley-doubles-covid-19-claims-cost-to-340mn/|title=Beazley doubles COVID-19 claims cost to $340mn - Reinsurance News|first=Staff|last=Writer|date=22 September 2020|website=ReinsuranceNe.ws}} and it's currently at the same procedural stage and may be joined with this case.

There are also reports that "More businesses have applied" to join the claims, although NFU Mutual has told the press the litigation "only a small number of customers."{{Cite web |date=2025-02-25 |title=NFU Mutual standing firm against Covid claims |url=https://www.stratford-herald.com/news/nfu-standing-firm-against-covid-claims-9405704/ |access-date=2025-06-08 |website=Stratford Herald |language=en}}

This litigation represents significant contingent liabilities for NFU Mutual. While the insurer has not confirmed the number, reports suggest "as many as 9,000 of these policies may have been sold";{{Cite web |date=2025-02-25 |title=NFU Mutual standing firm against Covid claims |url=https://www.stratford-herald.com/news/nfu-standing-firm-against-covid-claims-9405704/ |access-date=2025-06-08 |website=Stratford Herald |language=en}} with the average claim per policy in the Penningtons action standing at £392,086Claim Form in *South Farm Limited and others v. The National Farmers Union Mutual Insurance Society Ltd*, Case Number CL-2024-000309, filed 29 May 2024. the total potential exposure is estimated to be in the billions of pounds.

The situation has exposed NFU Mutual to criticism and caused it to express regret and concern. In a Chartered Institute of Insurance podcast at the beginning of the pandemic in May 2020, Nick Turner (at the time sales and agency director, and subsequently CEO) stated that the company would face challenges with its reputation and relationships from these matters:

Trust is important everywhere in insurance... If you haven't written a policy wording very precisely to protect the insurance company and bring clarity to the consumer, then that is where the problems lie.. We [will] have to work to renew trust with certain customers [who may have been let down], it will be challenging this is going to run and run  ... if [the issues around policies we have sold have put policyholders] into incredibly difficult positions or even administration, nothing is going to put a smile on [their] face.{{Cite journal |last=Chartered Institute of Insurance |date=May 2020 |title=Podcast: 'Ways to maintain trust during the coronavirus outbreak' |url=https://podcasts.apple.com/gb/podcast/ways-to-maintain-trust-during-the-coronavirus-outbreak/id1347688207?i=1000475911396 |journal=CII Podcast}}

Turner accepted that policyholders not receiving business interruption payments could impact their welfare and mental health in this same podcast. This perspective was reiterated in commentary by chairman Jim McLaren in another podcast, who said:

And you mentioned mental health and it's a crucial area and one that's often overlooked other than by those who are suffering from real mental health challenges. And again, the Mutual recognises that.{{Cite web |last=Evans |first=Will |date=2020 |title=Rock and Roll Farming Podcast: An update on Coronavirus support for Farmers |url=https://www.nfumutual.co.uk/globalassets/farming/podcast-transcripts/update-on-coronavirus-support-for-farmers-podcast-transcript.doc}}

[i]n good faith, we paid our premiums to NFU Mutual for years to protect us ... we reached for the comfort and the security of the longstanding relationship with NFU Mutual and it turned to total ash.{{Cite web |last=Guiao |first=Micah |title=NFU Mutual hit with 'letter before action' |url=https://www.insurancebusinessmag.com/uk/news/breaking-news/nfu-mutual-hit-with-letter-before-action-323536.aspx |access-date=2022-02-02 |website=www.insurancebusinessmag.com}}

In February 2023, the Insurance Post reported that complaints regarding a lack of coverage for COVID-19-related booking cancellations had been upheld.{{Cite web |date=2023-02-01 |title=NFU Mutual policyholders invited to claim after Covid cover complaints upheld |url=https://www.postonline.co.uk/node/7952798 |access-date=2023-04-08 |website=Insurance Post |language=en}} NFU Mutual later acknowledged on its website that some businesses were not properly advised and may have missed out on cover for COVID-19-related booking cancellations, adding that businesses offering pre-March 2020 overnight accommodation who were not offered this extension should contact NFU Mutual for case review and potential compensation.{{Cite web |title=Business Interruption |url=https://www.nfumutual.co.uk/news-and-stories/fca-business-interruption/ |access-date=2025-03-26 |website=Business Interruption {{!}} NFU Mutual |language=en}}

In November 2020, the company's conduct in deducting COVID-19 support grants from its payments triggered by COVID-19 were called into question in debate in the House of Commons with John Glen MP stating:

I am aware that NFU Mutual has continued to make such deductions. As stated in my letter, these grants are intended to provide emergency support to businesses at this time of crisis, and it is the Government's firm expectation that they are not to be deducted from business interruption insurance claims{{Cite web |title=NFU Mutual: Coronavirus |url=https://www.theyworkforyou.com/wrans/?id=2020-11-20.118562.h |access-date=2021-02-24 |website=TheyWorkForYou}}{{Cite web |last=Browning |first=Steve |date=19 November 2021 |title=Coronavirus: business interruption insurance |url=https://researchbriefings.files.parliament.uk/documents/CBP-8917/CBP-8917.pdf |website=House of Commons Library |page=26 |id=CBP-8917}}

The Professional Association of Self-Caterers also noted:

[NFU Mutual] were the last major insurer to keep deducting Grants from pay-outs

In 2011, the issue of excessive pay has received negative attention, with the Insurance Times quoting an observer as saying: "Only two words come to mind – and they are 'snout' and 'trough'.{{Cite web |last=Bennett |first=Ellen |title=IT Investigates: NFU Mutual reaps a bad harvest |url=https://www.insurancetimes.co.uk/it-investigates-nfu-mutual-reaps-a-bad-harvest/1392502.article |access-date=10 March 2022 |website=Insurance Times}}

In 2013, a director of NFU Mutual, David Anderson, was scrutinised for his role as chief executive of the troubled Co-operative Bank during its financial collapse{{Cite journal |last=Treasurer Select Committee |first=House of Commons |date=2013 |title=UK Parliament |journal=Parliamentary Proceedings}} which had a capital short fall of £1.5bn. NFU Mutual's board left Anderson in place, going further and issuing a statement saying they benefited from his kind of advice and 'had no plans to review his appointment'.{{Cite web |title=Scrutiny over former Co-op chief's role at NFU Mutual |url=https://www.ftadviser.com/2013/06/26/ifa-industry/companies-and-people/scrutiny-over-former-co-op-chief-s-role-at-nfu-mutual-wx0AuzKgi7MnozGMFLWeWM/article.html |access-date=2024-01-25 |website=www.ftadviser.com |language=en}}

Total emoluments to the highest paid director (Nick Turner) were stated as £1,965,789 in the 2024 accounts, and aggregate emolument the board was £5,125,771.{{Cite web | title=NFU Mutual Accounts for 2024 | url=https://www.nfumutual.co.uk/globalassets/about-us/agm/agm-2025/reports-and-accounts.pdf}}

• Victor Head; A Triumph of Hope, The Story of the National Farmers Union Mutual Insurance Society Limited; The National Farmers Union; 1985

{{Reflist}}

{{Commons category|NFU Mutual}}

• [https://find-and-update.company-information.service.gov.uk/company/00111982 Fillings history at Companies House]
• [https://register.fca.org.uk/servlet/servlet.FileDownload?file=00P0X00001ZYM4dUAH Transitional Deduction Measure on Technical Provisions granted to the company to the Bank of England Predental Regulation Authority]
• {{Official website}}
• [https://www.nfumutual.co.uk/complaints/complaints-data/ NFU Mutual complaints data]

{{Agriculture in the United Kingdom}}

{{Coord missing|Warwickshire}}

Category:Insurance companies of the United Kingdom

Category:Mutual insurance companies

Category:Agricultural insurance

Category:Financial services companies established in 1910

Category:1910 establishments in England

Category:Companies based in Stratford-upon-Avon