The Swiss Re Institute has today published its annual world insurance premium publication sigma. The world insurance sigma report has been considered by many to be the premier source of insurance premium data since 1968. The report includes premium volumes by country, penetration rates, insurance density and key macroeconomic indicators. The report also contains in-depth […]
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Environmental, social and governance (ESG) factors were considered the primary driver in 13% of AM Best’s global rating actions during the 12-month period ending in March 2021, according to a new report from ICMIF Supporting Member AM Best. The Best’s Special Report, Impact of ESG Factors on AM Best’s Rating Actions, notes that nearly three […]
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Gore Mutual Insurance Company (Gore Mutual) has announced its new operating model for Ontario personal lines automobile and Individually Rated Commercial Auto (IRCA) insurance. The mutual insurer has taken the first step in its strategic transformation with the launch of its national contact centre, underpinned by industry-leading technology to enable brokers to provide their customers […]
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Retail cooperatives from across the UK recently came together to provide much needed emergency supplies to cooperatives and communities in India during the Covid crisis. Over GBP 100,000 was donated via SEWA, a Cooperative Federation in India which works with 106 women’s coops, enabling them to provide a sustainable livelihood for female workers. ICMIF member […]
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In 2018, Swedish ICMIF member Folksam introduced compensation and support in its home insurance for customers who have been exposed to violence in close relationships. This protection has now been improved by Folksam by also including financial support to cover urgent additional costs and providing compensation for repeated physical violence in a close relationship. In […]
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Reinsurance rate increases continued for most major lines and territories during the 1.6 and 1.7 renewal period, however, in many cases reinsurers had to accept firm order terms below their initial quotes. That indicates that the market is approaching equilibrium, according to the latest 1st View renewals report from ICMIF Supporting Member Willis Re. Reinsurers’ […]
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In response to the ongoing challenges faced by communities across the UK, ICMIF member and rural insurer NFU Mutual is delivering GBP 2.75m of funding for local and national charities in 2021. A part of this initiative, the insurer has donated GBP 2m to local charities through its Agency Giving Fund. This follows GBP 1million […]
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Charities up and down the UK have shared a GBP 500,000 windfall as part of Ecclesiastical Insurance Group’s Movement for Good awards. For the third year running, ICMIF member Ecclesiastical Insurance Group is giving away GBP 1million to charities through its Movement for Good awards. Members of the public were invited to nominate causes close […]
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A new report is shining a much-needed spotlight on a critical part of the Australian economy which is worth billions to Australian people – that also gives them a fairer share of the pie. The report details how, in a year of unprecedented change and economic upheaval, the cooperative business model has thrived through strength […]
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This week, Canadian ICMIF member The Co-operators announced net-zero targets for its investments and operations, joining a growing movement of financial services organisations helping to define a path for the crucial transition to a more sustainable, zero-emissions economy. The Canadian financial services cooperative, with over CAD 57.8 billion in assets under management, says it will […]
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