report stated:[A]Principal Risk and Uncertainty, Strategic [is that] NFU Mutual’s customer base changes substantially beyond expectations Unexpected changes to NFU Mutual’s current or target customer base which impact on insurable risks, including changes to the farming industry or other significant target trade sectors, customer demographic or behavioural changes. This could be caused by events including a reputation-damaging event impacting our standing in the farming community.Following the invasion of Ukraine, NFUM stated it would divest from Russian holdings as soon as practically possible. The business represented it had limited exposure to Russian assets, and stated that therefore the impact on customers and portfolio performance would be limited. Affiliates and agents Agencies NFU Mutual sells policies predominantly through a network of agents. Agents were traditionally Group Secretaries of the NFU. The Union, as employer, paid them a salary and the Mutual paid them commission. At the end of 2018, NFU Mutual had over 3,800 employees, and 654 agents working out of 310 offices. Farming Unions NFU Mutual has made financial contributions to UK farming unions during that time. For example, in 2021, the insurer donated >£7m to the UK's farming unions. NFU Mutual is the official insurer of the main farming unions of the UK, with these associations beginning as follows: National Farmers' Union of England and Wales (1919); NFU Scotland (1922); Ulster Farmers' Union (1930); Manx NFU (1947); Scottish Crofting Federation (1986). In 1922, NFUM became the insurer to NFU of Scotland; the Ulster Farmers' Union followed in 1930. Services NFU Mutual offers personal insurance products such as home, private motor, pet and travel. They also offer agricultural and commercial insurance to business customers of various sizes. In 1928, NFU Mutual set up a final-salary pension scheme for employees and establish a life assurance business, which wrote more than £100,000 of sums assured in year one. Diverse life insurance products including term assurance are offered to the market by NFU Mutual working with AIG. The business offers various investment and pension products and sells financial advice. Financial performance The business currently underwrites around £1.825billion in annual general insurance premiums for UK policyholders. At the end of 2021, its total funds under management were £22.2bn. An underwriting loss of £89m was made inn 2021, the most recent year for which figures are available though the Group achieved an overall profit of £182m. The business reported losses of £143m for 2020 and an