In April of this year, ICMIF Supporting Member AM Best revised its market segment outlook on Italy’s life insurance market to negative. Key factors that led to the change in outlook include the exposure of earnings and solvency positions to material asset devaluations and ongoing volatility across all asset classes driven by the coronavirus (COVID-19) […]
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ICMIF member Trillium Mutual Insurance (Canada) has announced a CAD 50,000 donation through its ROOTS Community Fund to support 4-H Ontario’s Taking Our Mental Health to Heart programme. The programme equips young people in Ontario with the skills and knowledge to adapt to mental health challenges through hands-on learning. “Trillium Mutual Insurance is a community-minded […]
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ICMIF member NTUC Income (Income) was incorporated 50 years ago as the first insurance cooperative in Singapore and this year the organisation celebrates its Golden Jubilee. Today, the organisation maintains the same focus as it had at the start of operations back in 1970, making insurance accessible, affordable and sustainable in Singapore. Over the years, […]
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According to the latest sigma report from the Swiss Re Institute, sigma 4/2020, World insurance: riding out the 2020 pandemic storm, the insurance industry is set to overcome this year’s COVID-19-induced global economic recession. The sharpest economic contraction since the 1930s will lead to a slump in demand for insurance in 2020, more so for […]
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Japanese ICMIF member JCIF (the Japan CO-OP Insurance Consumers’ Co-operative Federation) has a membership made up of about 150 consumer cooperatives (coops) whose main business is product supply by home delivery or at stores; Kyosai (the name for cooperative insurance in Japan); medical and welfare business; and is a national federation that specializes in Kyosai […]
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ICMIF member EMC Insurance Companies (USA) was recently announced as the winner of two innovation awards by the National Association of Mutual Insurance Companies (NAMIC), during its annual Award in Innovation presentation. These national awards were created by NAMIC in 2014 to recognise mutual insurers that exemplify the vision and entrepreneurialism it takes to stay […]
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Danish ICMIF member LB Forsikring has launched an insurance policy which would cover all types of car rentals in Denmark, whether it is an electric car rented on an hourly basis or a car rented for several days. The product also covers car sharing schemes. Whilst car insurance targeted at people who do not own […]
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For the fourth year running, Italian ICMIF member Unipol Group confirmed its first-place position for reputation in the insurance and banking sectors. The 2020 rankings by The RepTrak Company, a global leader in measuring and managing corporate reputation, measured the perceptions of multiple stakeholders of the reputation of about 400 financial services companies operating in […]
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To respond to a constantly evolving market and the demands of its customers and brokers, Argentinian ICMIF member Seguros Rivadavia has launched an impressive range of insurance products with different levels of cover designed to respond to the needs of bicycle users. The new range of products will be actively marketed throughout Argentina. These new […]
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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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