NFU Mutual was formed in 1910 and is officially known as The National Farmers Union Mutual Insurance Society Limited. It was started by just seven men who wanted to entice new members to the farmers union by offering insurance at cost price. In 1998 NFU Mutual began to insure invdividuals and businesses outside of the farming industry and has seen rapid growth in the years since. MFU Mutual have over 300 branches nationwide and currently only trade in the UK, Channel Islands and the Isle of Man. MFU offer a range of finaincial services including insurance, investments, pensions, life assurance and risk management. MFU Mutual is also owened by its Policy Holders and a large proportion of its profits are returned to customers in the form of a discount off the cost of renewals. The discount ranges from 6% - 10% depending on the number of years that the policyholder has been using with NFU Mutual.