Latest News

Wednesday, 15 March 2017

Recent research carried out by the International Cooperative and Mutual Insurance Federation (ICMIF) on gender diversity at board, CEO and senior management level demonstrates that cooperative and mutual insurers – and particularly ICMIF member organisations – are leading the way in diversity. More and more women are leading mutual and cooperative insurers and playing a key role in growing the insurance sector globally.

The latest edition of the ICMIF Members’ Governancereport noted that the percentage of women on the boards of directors of mutual and cooperative insurers rose to 20.6% in 2015, compared to an insurance industry...

Thursday, 09 March 2017

The US mutual insurance sector continued to outperform the rest of the industry and achieved a record high share of the market in 2015, according to the latest research from the International Cooperative and Mutual Insurance Federation (ICMIF).

The ICMIF Market InSights: USA 2015 report highlights how mutual insurers held a 37.7% share of the total US insurance market in 2015, a gain in market share of just under eight percentage points since before the onset of the global financial crisis (2007: 29.9%). Collectively, US mutuals also achieved record premium levels in 2015 of USD 1.32 trillion, representing an aggregate growth of 34...

Thursday, 09 March 2017

Achmea, a Netherlands based member of the International Cooperative and Mutual Insurance Federation (ICMIF) has joined the Blockchain Insurance Industry Initiative B3i to further explore the potential use of distributed ledger technology for the insurance industry. Since its launch in October 2016, the B3i initiative has gained broad attention across the industry and beyond, while achieving a truly global scope with additional members joining from Asia, Europe and the Americas. The current 15 members of B3i are Achmea, Aegon, Ageas, Allianz, Generali, Hannover Re, Liberty Mutual, Munich Re, RGA, SCOR, Sompo Japan Nipponkoa Insurance,...

Thursday, 09 March 2017

The International Cooperative and Mutual Insurance Federation (ICMIF) has this week announced that it will be working with the Development of Humane Action (DHAN) Foundation, India, to supply an additional 1.17 million people from low-income communities with its mutual life, health, crop and livestock products over the next five years. This work will form part of phase II of the ICMIF 5-5-5 Mutual Microinsurance Strategy’s country intervention in India.  

ICMIF’s 5-5-5 Mutual Microinsurance Strategy is a five-year project based in five emerging market countries which aims to provide five million low-income...

Thursday, 09 March 2017

The Association of Mutual Insurers and Insurance Cooperatives (AMICE) and the International Cooperative and Mutual Insurance Federation (ICMIF) have this week opened the registration process for the 7th Meeting of European Mutual and Cooperative Reinsurance Managers.

Places are limited and will be confirmed on a first come, first served basis and therefore members are advised to register now.

Member pricing policy: EUR 300 for one registration from a member organisation and EUR 250 for subsequent registrations. The price includes dinner on day one, lunch on day two and coffee breaks during the two day...

Thursday, 09 March 2017

More information on the programme and details of how to register for the event will follow soon but for any immediate questions or if you would like to participate in the agenda please contact: Liz Green, Senior Vice-President, Membership Services, ICMIF.

The Association of Mutual Insurers and Insurance Cooperatives in Europe (AMICE) and International Cooperative and Mutual Insurance Federation (ICMIF) have teamed up with member organisation IPB Insurance, Ireland to organise a communications event for member organisations which will focus on mutuality in a digital society. The...

Thursday, 09 March 2017

The Co-operators, a Canadian member of the International Cooperative and Mutual Insurance Federation (ICMIF), has this week announced a new partnership with Physical and Health Education Canada (PHE Canada) that will support mental health literacy and improve wellbeing in school communities across Canada. Teach Resiliency is an online portal and community of practice offering teachers tools and strategies to assess resilience needs and resources to promote and enhance teacher and student mental health.  

Research* indicates approximately 20 per cent of Canadian students are suffering from a mental health illness and, in...

Thursday, 23 February 2017

Leading advocate for the mutual and cooperative sector, Mutuo last week announced a major expansion with the opening of a new business division in the Asia-Pacific region, and welcomed Mark Egelstaff as Director.

Mark, who will be based in Sydney, Australia, will provide public affairs and policy services to cooperative and mutual businesses across the region, starting with support to the Business Council of Co-operatives and Mutuals.  This will build on the strategic and project support that Mutuo has provided in Australia over the last three years.

Mark is a public affairs and policy strategist with...

Thursday, 23 February 2017

According to a new briefing from ICMIF Supporting Member A.M. Best, regulatory risk is growing for reinsurance companies, which could represent a mix of favourable and unfavourable changes for offshore domiciles should US tax reforms be adopted.

The new Best’s Briefing, titled Shifting Tides in Global Regulation Present Challenges and Opportunities states that should tax and regulatory changes result in lower after tax earnings, organizations would likely respond by finding alternative operating structures to sustain earnings and manage capital cost efficiently. This also could potentially lead to the decline of one...

Thursday, 23 February 2017

China's first mutual insurer, Zhonghui Property Mutual Insurance, has opened this week in Beijing.

Zhonghui Property Mutual Insurance has initial working capital of CNY 1 billion (USD 146 million) which has come from 12 founding members and has 546 member/policyholders so far. The mutual will offer credit insurance to small and medium-sized businesses and will also offer short-term health and personal accident insurance.

In July 2016 the International Cooperative and Mutual Insurance Federation (ICMIF) welcomed the approval of three licences by the China Insurance Regulatory Commission (CIRC) for the establishment of three...