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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ICMIF member Simplyhealth (UK) has announced the launch of its Venture Capital fund, ‘Simplyhealth Ventures’ this week. Over the next few years, the fund will invest GBP 60 million in UK-focused, early-stage healthcare businesses to accelerate the development and adoption of predictive and preventative healthcare solutions. These investments will support Simplyhealth’s overriding purpose to improve […]
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Last week, Forbes magazine published a list of the world’s 400 most female-friendly companies, which features four ICMIF members. The members in the list are French mutual insurer MAIF which is in third position, closely followed by the Desjardins Group (Canada) in fourth place. Also included in the list are the Unipol Group in Italy […]
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Italian ICMIF member UnipolSai has launched WelBee, a company wholly owned by the insurance company, with the aim of marketing flexible benefits through a proprietary platform that directly uses the catalogue of services and products of Tantosvago Srl, 75% of which UnipolSai acquired last July. The benefits will be marketed through different channels including: direct […]
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ICMIF Supporting Member Aviva Investors, the asset manager of Aviva plc (‘Aviva’), has called for the creation of a global transition plan for finance at a new Bretton Woods conference in 2024 to reform the global financial architecture and mobilise private capital to avert a climatic catastrophe. Failure to do so would have unprecedented environmental, […]
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French ICMIF member the Aéma Groupe announced last month that it has officially joined the UN-convened Net-Zero Asset Owner Alliance (NZAOA); the Finance for Biodiversity Pledge (FFBP) initiative; and the Principles for Responsible Investment (PRI). These new commitments will help the Aéma Groupe reinforce its climate strategy through these strong and ambitious environmental commitments and […]
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