Dentists’ Provident distributed £7.5m as bonuses to its members and paid £5.2m in claims last year.
Giles Kidner, chairman of Dentists’ Provident, said, “Dentists’ Provident has skilfully navigated a challenging year and I am very pleased with these results. Our continued strength lies in putting our members at the heart of everything we do and doing what is right, not only for our current membership, but also for future generations.”
In 2023, the society paid out sickness claims of £5.2m, with a new claims paid ratio of 99 per cent. The number of covid-related claims fell significantly, bringing sickness claims back to where they were before the pandemic.
The society’s interest and loyalty bonus rates remain unchanged and the mutuality dividend for Income Security Plan holders rising by 11 per cent.
Farrukh Mirza, CEO of Dentists’ Provident, said, “We manage our business conservatively. Our solvency position remains strong and we have worked hard to keep our costs under control despite inflationary pressures and without compromising our service or the quality of our plans.”
The annual report will be presented for approval at the annual general meeting. This will be held at Dentists’ Provident’s head office on May 24, 2024, where all members are invited to have their say on important matters affecting their society.