As the International Cooperative and Mutual Insurance Federation (ICMIF) begins its centenary celebrations on Monday 25 April to mark the Federation’s inception in Rome on the same date back in 1922, Hilde Vernaillen the current President and CEO of one of its founding members, the P&V Group (Belgium) reflects on how ICMIF has grown from […]
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South African ICMIF member The Professional Provident Society (PPS Insurance Company), a financial services company focused solely on providing financial solutions for graduate professionals has announced that the Group paid ZAR 6.1 billion (USD 0.39 billion) in total benefits to members in 2021, up 27% from the ZAR 4.8 billion (USD 0.31 billion) it paid […]
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ICMIF member and leading rural insurer NFU Mutual (UK) has joined re-insurer Flood Re’s Build Back Better programme, reaffirming its commitment to supporting flood victims with resilient repairs able to withstand further flooding. NFU Mutual launched its Flood Resilience Repair scheme in November 2017, which is available for all home insurance customers with buildings cover. […]
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The Mutual Fire Insurance Company of British Columbia and Germania Mutual Insurance Company to merge
Canadian ICMIF member The Mutual Fire Insurance Company of British Columbia and Germania Mutual Insurance have reached an agreement to merge. Members have demonstrated their support at each company’s annual general meetings and the transaction is provisional upon receiving regulatory approval. Darin Nessel, the President and CEO of Mutual Fire Insurance, will continue as President […]
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ICMIF member DEVK Versicherungen, through its new subsidiary company hylane GmbH, a provider of climate-friendly mobility, has launched the first usage-based rental service for hydrogen-fuelled trucks in Germany. Founded in Cologne in 2021, hylane is committed to sustainable and innovative mobility in the transport sector. Maximum comfort with minimum risk – that is the promise […]
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All home insurance from ICMIF member Folksam now carries the Good Environmental Choice label (Bra Miljöval in Swedish). This covers 1.8 million households in Sweden. Also, the insurance company’s car, villa and holiday home insurance also meet the eco-label’s new, stricter requirements. The Good Environmental Choice standard’s requirements mean that insurance premiums must be invested […]
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Members of the Association of Financial Mutuals (AFM) that offer income protection (IP) products paid out 94.1% of claims received in 2021, up from 93.9% the previous year. The AFM is a member of ICMIF and based in the UK. Coronavirus continued to account for a significant proportion of claims, but, the AFM says, caused […]
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Seventy per cent of ICMIF members exceeded their local market’s annual growth over the last financial year, according to the International Cooperative and Mutual Insurance Federation’s latest edition of the ICMIF Members: Key Statistics report. These results follow positive findings from our recent ICMIF Members Sustainable Investment Report 2021, where 80% of ICMIF members named […]
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Last year, global economic losses from floods amounted to USD 82 billion, yet insured losses stood at slightly more than USD 20 billion, indicating a large protection gap. In 2021, floods accounted for 31% of global economic losses from natural catastrophes, only 2% less than tropical cyclones, according to Swiss Re Institute’s latest sigma report, […]
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Earlier this year ICMIF member Vaudoise Assurances (Switzerland) concluded a merger with Swiss insurance cooperative Epona SA. As a long-standing cooperative member of Epona, the Vaudoise Group wants to breathe new life into the Swiss leader in animal insurance while respecting its mutualist roots and 120-year history. Vaudoise Assurances, which already owns the dog and […]
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