Throwback Thursday: Insurers earnings revealed
Insurance Post’s Throwback Thursday steps back in time to July 1970 to remind you what was going on this week in insurance history when the Chartered Insurance Institute revealed how much Fellows earned.
23 July 1970: CII members earnings revealed
The Chartered Insurance Institute polled members to find how much they earned for the first time since 1967.
The survey, completed by more than 4,000 members, showed the median yearly pay packet for a Fellow ranged from £1,620 for those aged between 26 and 30 to £2,880 for those aged between 56 and 60.
In today’s money, the typical starting salary for a young Fellow would be £21,717 while those closest to retirement picked up £38,609.
Equitable Life moves offices
Equitable Life was moving to new premises in Princess Street, Manchester.
Equitable Life was the UK’s oldest mutual life assurance company, established in 1762, before closing to new business in 2000.
Parts of the business were sold off and the remainder of the company became a subsidiary of Utmost Life and Pensions in January 2020.
Equitable Life sold guaranteed annuity rate policies, which promised a guaranteed rate of return on a fund that included terminal bonuses.
However, the cost of maintaining these policies became too high when market annuity rates fell below the guaranteed rates.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: https://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on People
Penny Black’s Social Diary: Brit’s coats; Insurance Innovators’ chicken
Penny Black is back, sharing the tittle-tattle she overheard at insurance industry events, reviewing the quality of buffets at conferences and giving a thumbs up – or down – to the sector’s social media posts.
Entries open for the 2026 British Insurance Awards
We can’t quite believe it’s come round so quickly – the 2026 British Insurance Awards are now open for entries.
Tide names insurance business CEO
Insurance Post can reveal Dan McNally has been appointed senior vice president and CEO of Tide’s global insurance business.
Diary of an Insurer: Liberty Specialty’s Henry Nelson
Henry Nelson, chief underwriting officer for the UK, Middle East and North Africa at Liberty Specialty Markets, balances strategy and encounters with US Presidents with early-morning family time, cycling and revisiting guitar bands.
Penny Black’s Social Diary: Insurtech UK’s pizza; Clearspeed’s sunglasses
Penny Black is back, sharing the tittle-tattle she overheard at insurance industry events, reviewing the quality of buffets at conferences and giving a thumbs up – or down – to the sector’s social media posts.
Intact’s Flynn to leave insurer after 16 years
Intact UK’s chief transformation director for commercial lines, Rob Flynn, is to leave the business at the end of the year.
Six insurance risks of employee attendance monitoring
With major employers starting to keep tabs on office attendance, Colin Ashworth, managing director of insurance operations at NFP, unpicks the potential claims that could arise from forcing more employees back into the workplace.
Aviva confirms By Miles redundancies
Aviva has confirmed to Insurance Post that members of staff are to be made redundant as a result of it closing down By Miles.