Latest News

Tuesday, 18 October 2016

Social dialogue is more relevant than ever, reflecting the pace of change and increased uncertainty as a result of technological advances, according to a joint declaration on the social effects of digitalisation signed by AMICE, the Association of Mutual Insurers and Insurance Cooperatives in Europe, and other European organisations representing employers and trade unions in the European insurance sector.

The declaration was concluded under the auspices of the Insurance Sectoral Social Dialogue Committee (ISSDC), the EU level platform where insurance employer and employee representatives discuss topics of common interest with the...

Monday, 17 October 2016

The Co-operators (Canada) last week announced its contribution to the International Cooperative and Mutual Insurance Federation's (ICMIF) 5-5-5 Mutual Microinsurance Strategy, which will guide the development of mutual microinsurance programs in five emerging markets, reaching out to five million new households over a five-year period. The Co-operators, an ICMIF member, will provide USD $100,000 per year as well as significant technical assistance to help Uplift Mutuals bring health care insurance to two large cities in India, Mumbai and Pune.

Uplift Mutuals is an ICMIF member that seeks to support low-income Indian families...

Thursday, 13 October 2016

The mutual and cooperative insurance sector continued to represent 27% of the global insurance market by premiums in 2015, according to the latest statistical research from the International Cooperative and Mutual Insurance Federation (ICMIF).

The latest infographic produced by ICMIF shows that the mutual/cooperative insurance sector maintained a 27.0% global market share for the second consecutive year in 2015, a significant growth in market share from 23.7% in 2007.

In 2015, the depreciation of most major local currencies against the US dollar resulted in a 5% fall in aggregate premiums written by mutual and cooperative...

Wednesday, 12 October 2016

United Nations Secretary-General Ban Ki-moon yesterday announced the launch of a new platform for scaling up innovative finance solutions to support the achievement of the Sustainable Development Goals (SDGs) by 2030 at a meeting with high-level officials from ministries of finance and foreign affairs, together with leaders from major global financial institutions. The Financial Solutions for the Sustainable Development Goals meeting took place on Monday 10 October 2016 at the UN Headquarters, New York, USA. The meeting was attended by Sabbir Patel, Senior Vice-President, Emerging Markets and Microinsurance, the International Cooperative...

Monday, 10 October 2016

September 28th saw an ambitious insurance-led risk management strategy get the green light from the Insurance Development Forum (IDF). This first-of-its-kind collaborative effort spanning the United Nations (UN), the World Bank Group, and the insurance industry aims to promote economic recovery and resilience in vulnerable regions facing climate events and natural disasters.

This innovative public/private partnership is in line with the UN Agenda 2030 and will contribute to achieving the G7 InsuResilience target of 400 million of the most vulnerable people in developing countries being provided with increased access to direct or...

Thursday, 06 October 2016

Shaun Tarbuck, Chief Executive of the International Cooperative and Mutual Insurance Federation (ICMIF) was recently invited for interview with global insurance news provide WRIN.tv. In the interview he commented on the growth in market share held by mutual and cooperative insurers, as reported in ICMIF’s Global Mutual Market Share report and echoed by Swiss Re in the recent sigma report: Mutual insurance in the 21st century: back to the future?  He cites three main reasons for the growth of the mutual and cooperative sector: trust, improved marketing, and a greater customer awareness of the “mutual” alternative.

Tarbuck also...

Friday, 30 September 2016

The Latin American Reinsurance Group (LARG) recently held their annual conference in San Salvador, El Salvador from 23 – 26 August 2016. The event welcomed a total of 100 delegates from 13 countries representing 17 ICMIF member companies and six guest organizations with the theme of Innovating to strengthen our competitiveness.  This annual event brings together 14 Latin American ICMIF member organizations which have been working together since 2004 to negotiate and place joint reinsurance treaties and develop reinsurance training programmes. ICMIF Supporting Members Willis Re and A.M Best, as well as ICMIF member reinsurers American...

Friday, 30 September 2016

El Grupo Latinoamericano de reaseguro (LARG) celebró recientemente su conferencia anual en San Salvador, El Salvador del 23 al 26 de agosto de 2016. El evento dio la bienvenida a un total de 100 delegados de 13 países que representan a 17 empresas de miembros de la ICMIF y seis organizaciones invitadas con el tema Innovando para Fortalecer Nuestra Competitividad. Este evento anual reúne a 14 organizaciones miembros de ICMIF América Latina que han estado trabajando juntos desde el año 2004 para negociar y colocar el reaseguro conjuntamente y desarrollar programas de capacitación de reaseguro.  Miembros de Apoyo de ICMIF Willis Re y A.M....

Tuesday, 27 September 2016

According to a new special report from A.M. Best, net premiums written (NPW) in the US property/casualty (P/C) mutual market grew at a moderate pace of 3.1% in 2015, and have grown each year since 2010 at a compound average rate of 3.4%. A.M. Best long-standing and much-valued Supporting Member of the International Cooperative and Mutual Insurance Federation (ICMIF).

The Best’s Special Report, titled, Mutual Property/Casualty Insurers Managing Market Challenges, states NPW growth over the last five years is attributed to rate actions, as dominant players in the mutual space maintain a considerable market share. The 10 largest...

Friday, 23 September 2016

Thirty eight delegates from thirteen ICMIF member organizations have recently participated in a study trip at CARD MBA, the Philippines, another ICMIF member, organized by the Asia and Oceania Association of ICMIF (the AOA). The visit was held on the 2 and 3 August 2016 with delegates from Hong Kong, Japan, New Zealand, Thailand, the Philippines, Sri Lanka and the UK taking part.

CARD MBA (Centre for Agriculture and Rural Development Mutual Benefit Association) is the insurance arm of the CARD MRI (CARD Mutually Reinforcing Institutions). CARD MRI is a group of institutions with a common goal of becoming a world-class leader in...

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