£211,437.91 (2020: £218,841). Steve Bower has a pension of £2,665,600 through the Group’s Retirement Benefit Scheme (2021). Governance Membership There are around 900,000 members of the NFU Mutual. As NFU Mutual has no shareholders, it represents that a proportion of its profits, if any, are returned to policyholder members in the form of an adjustment on quoted premiums of renewing customers. A claimed discount of between 8.5% and 13.5% (2022/2023) is currently asserted by NFU Mutual (without any external adjudication), which the business brands "Mutual Bonus". Membership is conferred automatically on holding a policy, but under the Articles of Association the Designated Officer, or the board, may deny membership to any individual for "any reason", thereby expelling them from the governance of the business. Annual General Meeting Under NFU Mutual's articles of association, each policy generates a distinct right to speak and vote at the Annual General Meeting (AGM), scrutinise the accounts, and hold the management to account, as well as an ownership right in the business. The AGM is generally held at the British Motor Museum at Gaydon, Warwickshire and is open to all policyholder members. Complaints NFU Mutual reported complaints in the first half of 2022. This accounted for 2.75 per 1000 insurance policies, 0.85 per 1000 life and pension policies, and 0.69 per investment policies. Senior leadership team The board (as of November 2022) consisted of the following people: Jim McLaren MBE (chair), Nick Turner (CEO), Richard Morley (Finance Director []) Steve Bower (Customer Services Director), Nick Watson (Sales & Agency Director) -- the non-executive directors are John Deane, Brian Duffin OBE, Ali Capper, Christine Kennedy OBE Jon Bailie, David Roper; these individuals "are responsible for the overall direction of the Company and setting the Company’s values and standards". Beyond this the executive team has these additional people: Gina Fusco (Strategy & Marketing Director), Trisha Jones (HR Director), Tim Mann (IT Director), Iain Baker (Risk Director). The NFUM’s current Group Head of Legal and Company Secretary is Jim Creechan, he succeed Bill Cooper in 2002, who died in 2022. NFUM's Amanda Mason, chairs the Association of British Insurers's influential conduct regulation committee, and the NFUM have just recruited the ABI's Head of Conduct Regulation to go and work for them. Subsidiaries and acquisitions A subsidiary, Avon Insurance, was established in 1925 to provide insurance to non-farming customers, and later specialised in personal accident insurance. Avon closed to