As the extreme flooding continues to affect British Columbia in Canada, ICMIF member Gore Mutual Insurance Company (Gore Mutual) has announced that it is donating CAD 150,000 to the Canadian Red Cross to support disaster relief efforts in the province. The funds will go towards the Canadian Red Cross’ British Columbia Floods and Extreme Weather […]
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Swiss Re Institute’s latest sigma study forecasts the global insurance industry to reach a new record in global premiums by mid-2022, exceeding USD 7 trillion. This comes earlier than ICMIF Supporting Member Swiss Re estimated in July and reflects rising risk awareness, increasing demand for protection and rate hardening in non-life insurance commercial lines. The […]
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ICMIF member Achmea (Netherlands) is contributing about EUR 380 million from its reserves to limit the increase in the basic healthcare premiums for 2022. Of this amount, about EUR 300 million will be charged against the result for the financial year 2021. In this way Achmea contributes to the affordability of health insurance premiums for […]
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While most organisations charge membership fees, Australia’s largest motoring cooperative Capricorn Society is doing things very differently, paying its members a record AUD 71 million in the 2021 financial year. Capricorn Society is the parent company of ICMIF member Capricorn Mutual: a non-profit mutual established to provide Capricorn Society members and their associates a competitive […]
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Two Swedish ICMIF members Dina Försäkringar and Länsförsäkringar shared first place in the commercial property insurance category in the annual survey of customer satisfaction conducted by Svenskt Kvalitetsindex (Swedish Quality Index). Each year, the survey company Svenskt Kvalitetsindex conducts a survey among insurance companies’ customers. The respondents answer questions about service levels, value for money, […]
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Canadian ICMIF member The Commonwell Mutual Insurance Group recently announced a philanthropy initiative that aims to grow community resiliency and capacity throughout Ontario and help them bounce back from the impact of the COVID-19 pandemic. To kick-start and re-energise learning, education and engagement in these communities, the mutual insurance company is pledging up to CAD […]
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A new report published last week by the Association of Financial Mutuals (AFM) and Whitecap Consulting highlights the key areas of current and future focus for UK mutual insurers and friendly societies, and provides a set of strategic considerations for the CEOs and boards of these organisations. The AFM represents 43 insurance and healthcare providers […]
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Consolidated global investment into the InsurTech sector continues to reach new highs. Capital invested in insurance technology start-ups surpassed the USD 10 billion mark for the first time in any one year on record. 2021 has now overseen a record-breaking USD 10.5 billion raised during the first three quarters of the year. Still with three […]
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Netherlands-based cooperative insurer and ICMIF member Univé won an International Best in Business Award during The Globee Awards 2021 last month. During the annual presentation, the jury declared Univé the winner in the Cybersecurity category for its launch of Univé Cyberhulp (Cyber Help), which has been included as standard for all insurance policies issued by […]
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In September of this year, Belgian ICMIF member P&V Assurances launched a pilot project: a mobile agency where visitors can receive a free check-up of their insurance. With this initiative, P&V says it is taking an alternative route to local closures and the disappearance of designated contact persons in financial services. Over recent years, increasing […]
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