History

1908

Dentists' Provident Society is founded in London on 3 February 1908 and registered as a Friendly Society under the Friendly Societies Act 1896 upon application of Messrs G F Cale-Matthews, W H Coffin, W B Paterson, H R F Brooks, W R Harrison, W R Wood, A W Wellings and B C Rayner.

1910

First sickness benefit claim paid. By the end of the year nine members had been paid sickness benefits totalling £188 5s. 11d..

1912

The Representative Board of the British Dental Association establishes the Dentists' Insurance Committee to arrange general insurance for the members of the Association and the duty of managing the new operation is delegated to Dentists’ Provident Society.

1922

Membership of the Society reaches 500. The membership of Dentists’ Provident Society grows quickly, with the new members in 1921 and 1922 amounting to more than 50% of the 1920 total membership.

1923

The Society begins providing mortgage advances to its members. The first advance being made to Mr Wood of Kettering for a sum of £1,500.

1929

Membership of the Society reaches 1,000 as the membership of the Society gains popularity with members of the British Dental Association. In some BDA branches almost 35% of the members are members of Dentists’ Provident Society.

1951

The assets of the Society reach £1,000,000. The Society relocates to its new offices in Bruton Place, London.

1955

Membership of the Society opened to non-members of the British Dental Association. The change leads to the Society enjoying a marked increase in new members.

1962

Dentists’ Provident Society makes its first investment in the stock market.

1967

The Society introduces commuted membership.

1980

The Society begins payment of terminal bonuses at the rate of 9% on the accumulated capital to members retiring from the Society.

1988

The Society relocates to new offices in Gayfere Street, Westminster.

1993

The Society incorporates under the Friendly Societies Act 1992 as Dentists' Provident Society Limited. The new Act gives the Society the ability to offer additional products and services to its members.

1998

A strong stock market fuelled by booming technology stocks sees the Society’s total assets reach £100 million.

2008

The Society reaches its 100th year and launches a new range of products designed to offer greater flexibility than ever before. The global financial crisis reaches its peak with the collapse of Lehman Brothers, and Freddie Mac and Fannie Mae rescued by the US Government in one of the largest bail-outs in history.

2011

Dentists' Provident relocates to new offices in Farringdon, London.