New research from the International Cooperative and Mutual Insurance Federation (ICMIF) found that in 2020, 27.8% of directors serving on ICMIF members’ boards were women, this is ahead of the financial industry average of 23.3% in 2020* and the insurance industry average of 26% in 2019**. This is a substantial increase from 20.6% in 2015 […]
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ICMIF Supporting Member AM Best has maintained its market segment outlook for the global reinsurance segment at stable, citing the presence of highly uncertain market conditions with positive and negative factors offsetting one another. Chief among the negative drivers is the heightened natural catastrophe activity that continues to test investors’ risk tolerance levels, according to […]
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Through a new collaboration with one of the market-leading pregnancy apps, Swedish ICMIF member Folksam hopes to increase the number of children across the country that are protected by insurance. Within the framework of the new collaboration with Preggers, users of the pregnancy app will be directly offered information and the opportunity to take out […]
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Transaction will strengthen Desjardins in life insurance and wealth management sectors and accelerate its growth strategy for the broader Canadian market. Desjardins is committed to maintaining the independence of advisors and intends to retain the management and employees of the acquired companies. Canadian ICMIF member Desjardins Group today announced that it has entered into definitive […]
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Thanks to the generosity and solidarity of employees at its head office, Canadian ICMIF member Promutuel Insurance is proud to announce that its latest Centraide workplace campaign has raised a record CAD 68,419.46 in direct donations. At a time when community organisations everywhere are under pressure to do more for more people, Promutuel Insurance decided […]
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UK mutual and cooperative insurers significantly outperformed their counterparts in the total UK insurance market in 2021, according to the International Cooperative and Mutual Insurance Federation’s latest UK Market InSights, a joint report by ICMIF and the Association of Financial Mutuals (AFM). The sector saw annual growth of 17.1% in FY 2021, compared to total […]
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Dramatic increases in interest rates worldwide have significantly affected the balance sheets of some insurers at midyear 2022; in particular, according to a recently published Best’s Commentary from ICMIF Supporting Member AM Best. Insurers using a market-value approach on their balance sheets saw significant declines in available capital. The Best’s Commentary, Impact of rising interest […]
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Earlier this year, ICMIF announced that it had established a new bursary award of EUR 10,000 for the most promising young scholar(s) (under 35 years of age) in the field of mutual and cooperative insurance. The bursary was launched in conjunction with the Mutual Insurance Conference (MIC) organised by the Mutual Research Network and which […]
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Last week, Australian ICMIF member, the Business Council of Co-operatives and Mutuals (BCCM) urged an all-in commitment to tackling the issue of climate change, as it launched its Declaration of Climate Action at its 2022 Leaders’ Summit in Melbourne. “If we are to go further and faster on reducing climate-altering emissions, everybody needs to do […]
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Inflation continues to be the key concern for insurers according to Swiss Re Institute’s latest sigma report published today (17 November 2022). The effect of inflation on the global economy has led to total global insurance premium falling slightly by an estimated 0.2% in real terms in 2022. Looking forward, Swiss Re Institute expects the […]
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