Co-operative Insurance Society has posted a 70% increase in new motor business so far this year compared to the same period last year.

It claims its mutual status has enabled it to keep motor premium increases to just 10% compared to an industry average of around 20%.

Motor renewal retention rates are approximately 93%.

Derek Wood, CIS Motor Insurance Manager, said: “Our co-operative status offers real added value for customers. Because we do not have to generate large profits for shareholders, CIS customers experience the co-operative difference where it matters most, in their pockets and in the service they receive.”