Australian ICMIF member, the Business Council of Co-operatives and Mutuals (BCCM) yesterday (Thursday 4 October) warmly welcomed the publication of draft legislation that will begin the process of modernising the Federal law for mutual businesses in Australia. The legislation forms the first part of a two-phased approach to improve the business environment for mutually owned firms and improve their […]
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Although Florida’s insurance market-share leaders possess strong levels of risk-adjusted capitalisation that should provide a buffer against Hurricane Michael losses, insurers, reinsurers and insurance-linked securities investors could face significant losses, according to a new briefing from ICMIF Supporting Member A.M. Best published last week on 10 October. The Best’s Briefing, “Insurers and Reinsurers Brace for […]
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The new International Financial Reporting Standard (IFRS 17) could provide better insight into underwriting performance and enable comparisons to be drawn between insurers, according to a new briefing from ICMIF Supporting Member A.M. Best. The Best’s Briefing, “New Accounting Standard IFRS 17 Will Provide Enhanced Reporting,” notes IFRS 17 calculations aim to bring consistency and comparability across […]
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The internationally renowned Dive In Festival arrived in the Netherlands for the first time last week. The initiators of the event this were Marguerite Soeteman-Reijnen and Bianca Tetteroo, Board members from Aon and Achmea respectively. The Dive In Festival promotes diversity and inclusiveness in the insurance sector. It is a global event and 2018 is […]
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A significant majority of insurers understand that innovation is increasingly becoming a differentiator in the global marketplace, according to results of a survey from ICMIF Supporting Member A.M. Best. The survey was carried out by A.M. Best on its rated entities on the subject of innovation. These survey results are part of an extensive Best’s Special Report on […]
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The Asia and Oceania Association (AOA) of ICMIF has issued a final reminder to its members to register for the AOA Seminar 2018 in Hong Kong. The seminar has been developed for executives, managers, and staff members of AOA member organisations. This year’s seminar will take place on 6 & 7 December in Kowloon, Hong Kong, hosted by […]
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This year Argentina holds the G20 presidency and, thanks to the growing recognition of insurance as a social protection mechanism to promote financial and economic stability and growth, there will be a G20 Insurance Forum take place this year for the first time ever at a G20 Summit. The G20 Insurance Forum will take place […]
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In the first half of this year, twice as many new customers entered the doors of Danish ICMIF member GF Forsikring compared with the same period last year. Despite negative investment return, the insurance company has upgraded its expectations for the year and says it predicts it will show good results by the year-end that will benefit […]
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The Latin American Association for Reinsurance Education (LARG) is a group of mutual/cooperative insurers from Latin America. All these companies are members of the International Cooperative and Mutual Insurance Federation (ICMIF). The LARG concept was originally set up in 2004 by five ICMIF member organizations in order to purchase reinsurance collectively and the group has […]
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In 2018, A.M. Best-rated U.S. property/casualty mutuals experienced a modest deterioration in underwriting results in 2017 owing largely to catastrophic events; however, these mutual insurers still posted growth in surplus and net premiums written. This is according to the Best’s Market Segment Report, “U.S. P/C Mutual Insurers: Moderate Surplus Growth Despite Elevated Losses” which was […]
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