In December 2022, a new mutual insurer, MIRIS, announced that it had obtained its Insurance Operating Licence. MIRIS was first conceived in June 2021 and commenced operations as of 1 January 2023. The objective of MIRIS is to provide additional cyber insurance capacity for its members, integrating and enhancing the capacity given by the insurance […]
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According to the latest Gallagher Re 1st View, detailing the 1 January 2023 renewal season, the market faced a very late, complex, and in many cases frustrating, 1 January renewals. According to ICMIF Supporting Member Gallagher Re, two areas stood out as the most challenging: peak-zone US property catastrophe capacity and coverage for strikes, riots […]
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January 1 renewals are proving to be one of the most challenging reinsurance markets the sector has experienced, as reinsurers and cedents work to establish a new market equilibrium, according to ICMIF Supporting Member Guy Carpenter, a leading global risk and reinsurance specialist. In a renewal season that was extremely late, ultimately, placements were largely […]
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The need to adapt to climate change is growing, which often means adapting at a regional level, especially for municipalities, cities and many companies. This is why Finnish ICMIF member LähiTapiola (LocalTapiola) has donated EUR 310,000 to fund a research project by the by the Finnish Meteorological Institute (Ilmatieteen laitos) to enable more accurate, regional […]
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A total of 22 charitable institutions throughout Germany will receive financial support from ICMIF member R+V Versicherung, as the company raised a record EUR 181,700 in its annual Christmas fundraising campaign. Russia’s war of aggression against Ukraine, inflation, exploding energy prices: the effects of the major crises this year also hit and are still hitting […]
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A record loyalty discount of DKK 253 million (EUR 34 million) is on its way back to LB Forsikring’s members just before Christmas. Denmark’s largest member-owned insurer is paying out a quarter of a billion to members for 2022, while more members will have access to the discount this year than previously. On 21 December […]
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Last week, ICMIF member Business Council of Co-operatives and Mutuals (BCCM) unveiled a Code of Conduct to govern the use of Discretionary Mutual Funds (DMFs), setting a clearer framework for affordable risk protection across the Australian economy. There has been a renewed interest in DMFs as a substitute for conventional insurance in response to surging […]
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Climate change is an important issue with major social, economic and financial challenges. Seeing the consequences of climate change all over the world, ICMIF member Achmea has today published its “Climate Transition Plan”. National and global climate goals require a huge transition. Together with other organisations and companies, governments and customers, Achmea is committed to […]
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On 4 November 2022, members of the senior management team of ICMIF member CLIMBS Life and General Insurance Cooperative, led by its CEO and President Noel D. Raboy, visited the headquarters of KBC in Leuven (Belgium) for a meeting and training from the KBC group to help them with growing their digitalisation and improving data […]
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The Achmea Innovation Fund has made an investment in Alicia Insurance. This fast-growing Rotterdam-based insurtech specialises in developing and offering embedded insurance for freelancers. This investment is in line with Dutch ICMIF member Achmea’s mission to help solve social issues; in this case in the ‘carefree living and working’ domain. By the end of this […]
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