The International Cooperative and Mutual Insurance Federation (ICMIF) today announced that Shaun Tarbuck will retire from his current role as Chief Executive Officer in November 2024 after 28 years of service to the global Federation. It was also announced that Liz Green, Executive Vice-President, becomes CEO Designate with immediate effect and will formally take over […]
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The broader market trends seen at 1 January continued at mid-year renewals, but with improved timing and concurrence around terms and conditions. While property pricing saw continued risk-adjusted rate increases in many segments, the average change moderated from 1 January, according to ICMIF Supporting Member Guy Carpenter. Additional capacity and increased appetite entered the property […]
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ICMIF member Royal London (UK) has become a signatory of the Armed Forces Covenant. The mutual says the agreement formalises its commitment to supporting the UK Armed Forces community and recognises the contribution to the country that serving military personnel, veterans and their families have made and continue to make. The covenant was signed by […]
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Renowned for its knowledge and expertise in the heritage sector, ICMIF member Ecclesiastical Insurance (UK) the specialist insurer is expanding its risk appetite to include businesses in more modern properties. Ecclesiastical says it will initially target four- and five-star hotels, fine-dining restaurants, gastropubs, and visitor attractions, with plans to expand to more customer groups in […]
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In 2021, over 4,400 mutual insurers collectively wrote USD 1.42 trillion in insurance premiums, the highest level of premium volume ever recorded by the mutual sector, according to the International Cooperative and Mutual Insurance Federation’s latest Global Mutual Market Share report. ICMIF has today published the new Global Mutual Market Share 2023 report which reveals […]
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According to the tenth annual National Mutual Economy (NME) Report produced by ICMIF member the Business Council of Co-operatives and Mutuals (BCCM), Australia’s top 100 cooperative and mutual businesses defied a raft of global and domestic economic headwinds to boost revenue by 10.8 per cent to AUD 37.7 billion in the 2022 financial year. The […]
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Four mutual insurance companies, including two ICMIF members (Shelter Insurance and Wawanesa) were top ranked in terms of the highest customer satisfaction among auto insurers across all 11 regions of the USA in the J.D. Power 2023 U.S. Auto Insurance Study. The annual survey from global data and analytics company J.D. Power, now in its […]
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Research from the UK cross-party think-tank the Social Market Foundation (SMF) shows that the British public largely thinks that business is falling short on its social responsibilities and putting profits ahead of purpose. However, polling for the SMF found that people have strongly positive views of the way that mutually-owned firms can prioritise members and […]
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This week, it was announced that ICMIF member the Folksam Group would be the sole investor in an SEK 1 billion (USD 93 million) bond issued by the World Bank which aims, among other things, to finance sustainable projects in developing countries with a focus on road safety. This is the first bond of its […]
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Earlier this year, South African ICMIF member AVBOB announced the launch of Year 2 of the AVBOB Road to Literary Trolley Library campaign in partnership with Oxford University Press. The aim of the campaign is to instil a culture of reading and contribute to improving numeracy skills of primary school children across South Africa by […]
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