Insurers were able to secure sufficient reinsurance capacity at the 1 July and 1 June renewals supported by adequate reinsurance capital. The remarkable recovery in investment markets allied with investors’ appetite to support additional capital and debt offerings and reinsurers own prudent risk and cost management has seen capital levels return to being only 5% […]
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According to a recent Best’s Special Report, Stress Testing Rated Companies for COVID-19 published by ICMIF Supporting Member AM Best in May 2020, initial stress testing conducted by the rating agency to gauge the preliminary impact from the COVID-19 pandemic on its rated insurance companies’ financial strength found that most insurers’ capital levels provided an […]
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The Philippines experiences about 20 typhoons every year. The island of Mindanao is home to Oro Integrated Cooperative (OIC) and Nabunturan Integrated Cooperative (NICO), two savings and credit cooperatives that are currently partnering with local ICMIF member CLIMBS Life and General Insurance Cooperative (CLIMBS) and the International Labour Organisation (ILO) to support an ILO project […]
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The Prince’s Accounting for Sustainability Project (A4S) was established by The Prince of Wales in 2004 with the aim of inspiring action by finance leaders to drive a fundamental shift towards resilient business models and a sustainable economy. The organisation has three core aims: Inspire finance leaders to adopt sustainable and resilient business models Transform […]
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Sustainability and the United Nations (UN) Sustainable Development Goals (SDGs) are the focus of a new ICMIF/Americas Working Group which was launched on 16 June 2020. The Working Group’s members currently consists of 18 executives from 14 ICMIF member companies, based in countries ranging from Central America to Argentina. Defined by the United Nations as […]
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The International Day of Cooperatives 2020 will be celebrated on Saturday 4 July with the theme this year of Cooperatives for Climate Action. The International Cooperative Alliance (ICA) and other cooperative bodies including ICMIF are inviting the global cooperative and mutual community to continue pushing for actions that will address climate change. This critical situation […]
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In support of Canada’s cooperative sector, ICMIF member The Co-operators has announced a CAD 200,000 COVID-19 Cooperative Assistance Fund to provide provincial cooperative associations with access to financial support (to a maximum of CAD 20,000 each). The fund will enable cooperative associations to support their members and small cooperatives in the wake of the pandemic. […]
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Shaun Tarbuck, Chief Executive at the International Cooperative and Mutual Insurance Federation (ICMIF), was interviewed last week by AM Best TV at the International Insurance Society (IIS) Global Forum in Singapore. The interview took place on Friday 24 June after the launch of a new report entitled Mutual microinsurance and the Sustainable Development Goals: An impact […]
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As the millennial and Gen Z generations continues to enter the workforce in vast numbers, it is crucial for mutual and cooperative insurers to position their unique business model as a factor in them being seen as “employers of choice” and to remain relevant for future generations. A new report from the International Cooperative and […]
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Argentinian ICMIF member the San Cristóbal Group has recently launched the ‘Elbow to Elbow’ (or ‘Codo a Codo’ in Spanish) programme which forms part of the Group’s response to the consequences of the COVID-19 pandemic and the effects of the ensuring lockdown on the organisation’s value chain. The programme consists of a number of initiatives […]
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