This week, 375+ leaders from the global mutual and cooperative insurance sector will meet in Buenos Aires (Argentina) for the International Cooperative and Mutual Insurance Federation (ICMIF) Biennial Conference taking place 12-15 November 2024. This is the second highest ever number of delegates to attend an ICMIF Conference. Of this year’s delegates, 59 will also take part in ICMIF’s exclusive Young Leader Programme.

ICMIF is the global association for cooperative and mutual insurers and, as a membership organisation, the Federation’s mission is to help its member companies achieve their strategic goals and sustainably grow in their local markets.

The ICMIF Centenary Conference is the largest global gathering of mutual and cooperative insurance leaders – with delegates from more than 101 organisations across 35 countries due to join the event in Buenos Aires, hosted by ICMIF members: the Argentinean Association of Cooperative and Mutual Insurers (AACMS) and the Association of Insurers of the Interior of the Argentine Republic (ADIRA). This is the second time that the ICMIF Conference will be held in Buenos Aires, the first was in 1990.

Latest data from ICMIF research shows that, in 2022, the global mutual and cooperative sector outperformed the total global insurance market for the third time in four years in terms of annual premium volume growth, resulting in an annual increase in global mutual market share to 26.3% in 2022 from 26.0% in the previous year.

Premiums written by the global mutual and cooperative insurance sector exceeded USD 1.4 trillion in 2022, having posted positive annual growth in 12 out of 15 years since 2007, while assets held by the sector worldwide stood at USD 10.0 trillion.

Globally, approximately 889 million members/policyholders were served by mutual insurance companies and a total of 1.19 million people were employed by mutual insurers worldwide in 2022. In the last 10 years, the number of employees of mutual insurers has increased by 9%.

The theme for this year’s Conference, Collaborating with purpose, will address the priority strategic issues around people, performance and partnerships to inspire and assist leaders to transform their businesses and promote effective collaboration for a resilient, purpose-led future.

Each day will explore a pivotal element of the Conference theme:

• People: The importance of talent and leadership in navigating emerging issues and driving competitive growth as customer-centric businesses.
• Performance: Balancing purpose and sustainability goals with financial success and effectively leveraging new technology trends for greater operational excellence.
• Partnerships: Collaboration at a global scale to achieve strategic goals and enhance the resilience of the communities we serve.

Speaking about the ICMIF Conference this week, Rob Wesseling, Chair of ICMIF and President and CEO, Co-operators (Canada) said:

“The ICMIF Biennial Conference is a wonderful platform for delegates to engage with other member organisations from around the world – to learn from each other, to collaborate in order to address common priorities, and learn about solutions that can help our organisations grow. In short, the Conference helps us use our collective strength to make a difference both at our own companies and at a global level.

He continued: “This year’s Conference, in the beautiful city of Buenos Aires, will be another excellent opportunity for cooperative and mutual leaders from around the world to come together. I have attended five biennials so far and, in each case, I left with knowledge, ideas and connections that have led to fruitful learnings and collaboration.

“The goal of everyone at ICMIF organising the event is to inspire and assist members to transform their businesses and promote the effective collaboration that is required for all of us to build a resilient, purpose-led future,” Wesseling concluded.

Shaun Tarbuck, current Chief Executive, ICMIF said: “ICMIF members make up a unique, trusted, global network of like-minded organisations that are willing to collaborate with each other and gladly share competencies and exchange strategic knowledge and best practice. Thanks to our global network we have the opportunity to maintain resilience in our organisations and our Conference this week will enable us to showcase how ICMIF supports its members in the key areas of people, performance and partnerships.

“The Conference will also allow us look ahead to 2025 and the United Nations Year of Cooperatives. In Buenos Aires, keynote speaker Ariel Guarco, President, International Cooperative Alliance (ICA) will share how we can demonstrate the ways in which cooperatives and mutuals bring the world together through cooperation to build a better global future that is more sustainable and inclusive. The coming year will allow us to showcase how cooperatives and mutuals are key partners to the UN in helping accelerate and deliver concrete actions to bring the Sustainable Development Goals (SDGs) to life.” Tarbuck concluded.

Incoming CEO, Liz Green said: “The future of mutuality will be shaped by collaboration, innovation, and a steadfast commitment to member policyholders’ interests. Mutual and cooperative insurers are well-positioned to lead in creating a more resilient, inclusive, and sustainable insurance sector worldwide but this is not an easy task and requires time and perseverance.

“The ICMIF Biennial Conference is the largest gathering of mutual and cooperative insurance leaders from across the world and we are excited to offer inspirational presentations, provocative panel discussions, and unrivalled peer-to-peer networking opportunities for our members. We can’t wait to spend this precious time with our members and learn more about how we can shape a future where mutuality really will thrive,” Green concluded.

ICMIF’s leadership transition

The ICMIF Biennial Conference will mark a significant leadership transition within the Federation. After almost 30 years of dedicated service to ICMIF, and 19 years as Chief Executive, Shaun Tarbuck will retire as CEO at the Conference in Buenos Aires. Under Shaun’s strong leadership, ICMIF has grown remarkably, expanding from 65 member companies in 1995 to over 200 today, establishing a prominent global reputation and influence in the global insurance sector.

In July 2023, it was announced that the ICMIF Board had unanimously agreed to appoint Liz Green as the next Chief Executive of ICMIF, and the third CEO in the Federation’s history. Liz joined ICMIF in 2012 and has worked closely with Shaun since then in a number of increasingly senior roles, most recently as Executive Vice-President. After this announcement, Liz took on a new role as CEO Designate and will formally assume the role of CEO of ICMIF at the Conference.

Speaking about the transition, Rob Wesseling, ICMIF Chair said: “I am confident that Liz’s experience and dedication will guide us through this leadership transition and the Federation will continue to build on its successes. We will be fortunate to have Shaun remain with ICMIF in an advisory and ambassadorial role to support Liz and ensure continuity in our global influence and impact work.”

A warm welcome from our hosts

Monica Spadavecchia, General Manager, AACMS said: “On behalf of ADIRA and AACMS we welcome all cooperative and mutual organisations from around the world, wishing them an excellent stay in Buenos Aires and we are confident that this ICMIF Biennial 2024 will be a place for sharing and exchanging experiences on the practice of cooperative and mutual insurance.”

Julian L Garcia, Executive Director, ADIRA added: “It is a great honour that ICMIF has entrusted AACMS and ADIRA to host the ICMIF Biennial 2024. We welcome all the insurance leaders from the cooperative and mutual world with open arms, as we come together and share experiences, renewing the sector’s commitment to growth and collaboration. We welcome all delegates to our country Argentina. We wish you a pleasant stay and that you enjoy every moment of the Meeting. It is an immense joy to have you in our country.”