Prominent business woman appointed as chair of FUW Insurance Service Board
FUW Insurance Services (FUWIS) have appointed prominent business woman Ann Beynon OBE as its chair of the Board. Ms Beynon, who is the first female chair of the FUWIS board, has been a non-executive director since 2016. During her period as a director of the business she has been a member of the Audit and Risk Committee and Chair of the Remuneration Committee.
Ms Beynon takes over from Tom Jones, who served on the FUWIS Board as its chair for 9 years. During this time, FUWIS grew by well over 50% which is a remarkable testament to his steady leadership of the organisation.
Taking over the role, Ann said:
“I’m proud to take over from Tom who has been such a force for good and has led us in a measured, wise and proportionate manner. I sincerely thank Tom for his leadership over the last 9 years and everything he has done for the business.”
With a successful business background Ann was keen to stay connected to the world of commerce after leaving her role as BT Director Wales in 2015. The opportunity to join the board of FUW Insurances Services as a non-executive director back in 2016 was very timely and allowed her to use her existing business knowledge whilst applying it to a new sector.
It was not only the sector that appealed but the role that the company plays in the rural Welsh economy.
She said: “I was struck by the fact that the FUW Group plays such a major role in the rural economy. Farmers are essential to keeping the wheels of the rural economy turning and the farming sector underpins the vibrancy of the Welsh language and culture.”
Since joining the FUWIS Board in 2016, Ann Beynon, alongside the Board and staff, has helped the business mature significantly, growing the Gross Premium Income (GPI) of FUWIS from £15 million to the current £19.5million.
Ann is also confident about the future;
“The business has shown itself to be robust and able to deal with changes in the market, as well as facing head-on the challenges experienced by the farming sector, which remains our core market. It’s a business that continues to evolve and it is very sensitive to the needs and requirements of the agricultural industry, whilst being able to provide services far beyond that core market.
“We need to grow even further within our core market whilst also looking for growth within the wider economy of rural Wales. We are confident that we’re able to do just that. We want to be seen as the rural insurer of choice here in Wales whilst also building on the growth that the business has enjoyed outside of Wales over recent years,” she said.
Tom Jones, who served as the FUW Insurance Service Chair for 9 years, said:
“ When I took over there was a real need to modernise the business and to achieve a degree of autonomy from the Union for the benefit of the wider FUW Group. I very much enjoyed leading the insurance business into a new era of substantial growth and was supported by an excellent team of staff. Together we established new ways of working and the management team was strengthened.”
Under Mr Jones’ chairmanship the business has matured significantly with new structures being put in place which ensure that the business is much more robust in what is a very competitive market.
Handing over the reins to Ann Beynon, Mr Jones said:
“I think the aspirations of the founding fathers of the union are as relevant today as they were back in 1955. The FUW is a vital cog in Welsh agriculture and I’m very proud to have played a part in its development. I wish Ann the very best for the future and have no doubt that under her leadership FUWIS will reach new heights.”