Pensions firm NPI has briefed financial PR firm Citigate to help it
communicate the benefits of staying mutual to the City press.
The group, which will continue using Lowe Bell to maintain its
relationships with the ’trade’ financial magazines, has not used any
City PR support before.
The decision to take on Citigate was taken after persistent rumours that
the life assurer was about to be bid for by Australian Mutual Provident,
although head of corporate affairs Ian Martin maintains that the group
is committed to staying independent.
’We believe in staying mutual, unlike many of our competitors,’ he
’We have a challenge to get the benefits of mutuality put across in a
more powerful way.’
Put simply, the message is that customers of a building society or
insurer that remain mutual rather than going public should benefit from
higher savings and lower borrowing rates. Martin said that more
management resources had been freed up to finance taking on a City PR
firm after the company identified a need to ’more strongly communicate
with that audience.’
NPI ranks sixth in the savings and pensions market and has doubled its
share since 1989. It handled policies worth pounds 1 billion last
Virtually all of its policies are sold through Independent Financial
Advisers, meaning that Lowe Bell’s work with the trade press is crucial
to NPI’s sales.