It is a long time since a regulatory “level playing field” has been an aspiration for mutual/cooperative insurance companies. In certain jurisdictions, it is not entirely uncommon for insurance regulators or legislators to develop policies that presume all insurers have the same ownership and governance structures. But mutuals/cooperatives do not have the same ownership structures, […]
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Unlike a listed company, which is owned by shareholders, a mutual company is made up of a community of members. This community of members guides the direction and governance of the entity, rather than shareholder interests. While this is the first time I have worked at a mutual organisation, I have not only been truly […]
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Case study of the Task Force on Climate-related Financial Disclosure (TCFD) The desire to influence global policy will be high on the wish list of almost every CEO in the insurance sector – certainly all of those I meet within the mutual and cooperative insurance sector. But rarely have I seen an idea move from […]
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It’s that time of year again, when so many of us make New Year’s resolutions that cover both personal and business areas of our lives where we vow to make changes for the better. This year, I would like to suggestion a resolution for all of us in the mutual and cooperative insurance sector to […]
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Insurance is an important and growing part of the financial sector and it exists in virtually all developed and most developing countries. A resilient and well-regulated insurance industry contributes significantly to economic growth and efficient resource allocation through the transfer of risk and mobilization of financial assets. As long ago as 2003, the IMF noted […]
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In the past, the business world has had a patchy relationship with social ideals. On the one hand, a handful of 18th century post-industrial revolution mill owners built housing and schools, while philanthropists used their personal wealth to establish charitable institutions, but conversely, an entire capitalist market has dominated the developed world, built around the […]
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To the uninitiated, Generation Y – primarily the children of the baby boomer generation – are presented to the world as the next generation who think and behave differently and who have a different set of values to their predecessors. To some, they are to be revered for their acceptance of technology as merely an extension […]
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Many years ago, when there was no such thing as Generation Y, X or even Z a father gave his son some advice as he was about to leave the family home: “The time has come for you to leave home and my advice to you is to remember three things: use cooperative banks, visit […]
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When it comes to leadership, the business model and objectives of a company play an important role in determining the most appropriate leadership style for the organization. For example, leadership in a mutual company is inherently different to that of a company with shareholders and thus requires a unique approach. In the shareholder model, […]
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China, one of the largest and the fastest growing of the insurance markets, grew by 188% in the last seven years, by catering mostly for the needs of its middle class and High Net Worth (HNW) individuals. But what about the needs of the county’s billion-plus other citizens? Well, following my recent trip to Beijing […]
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