Formed in 1863 as Blackburn Philanthropic Mutual Assurance Society, Red Rose Assurance, has been providing members throughout Lancashire and much further afield, with savings, investment and life assurance for many years. The Society has a long and proud history of providing ethical savings and investments.
In February 2025 Red Rose Assurance joined The Rechabite Friendly Society, becoming a trading name of the Society, which also trades as Healthy Investment.
Being part of a mutual Friendly Society means there are no shareholders to benefit from your investment. We don't just take an ethical approach to our investments, we make sure we do things right throughout our business. Today the Society provides a faith based, ethical offering.
Red Rose Assurance recently relaunched the Shariah Stocks and Shares ISA. The product has the same eligibility as any other adult Stocks and Shares ISA product, and is open to anybody who meet the following criteria:
- UK resident for tax purposes
- Aged 18+
- Those who have a National Insurance number
- Have not exceeded the annual ISA limit
To open a policy with Red Rose Assurance, the minimum initial deposit is £500 or there is the option to pay a monthly premium, with the minimum amount being £25 per month. A combination of both can be set up upon application.
Investing always carries risk. The value of your investments may rise or fall, and you might receive less than you originally invested. How your investment is taxed depends on your personal situation and could change over time. If you're uncertain about investing, you should consult a financial adviser.
The Society is:
- Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
- A member of the Financial Services Compensation Services Scheme.
- A member of the Association of Financial Mutuals.
Shariah Compliance
The Red Rose Shariah Unit-Linked Life Fund is fully invested in the HSBC Islamic Global Equity Fund, which tracks the Dow Jones Islamic Market Global Titans 100 Index.
What is Shariah Finance?
Shariah is a legal and ethical framework that governs both personal behaviour and financial practices. In accordance with its principles:
- Interest (riba) is strictly prohibited
- Investments in non-compliant industries (e.g., alcohol, gambling, and weapons) are not allowed
- Emphasis is placed on ethical conduct, social justice, and positive societal impact
Red Rose Shariah ISA: Faithful to Principles
This ISA adheres to approved Islamic finance guidelines and is overseen by an independent Shariah Supervisory Committee. The committee:
- Approves the fund’s investment policies and objectives
- Ensures ongoing compliance with Shariah principles
- Oversees the handling of any non-compliant income, including charitable redirection
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