Latest News

Friday, 18 August 2017
Rowan Douglas

…Or should there be more focus on disaster risk reduction and social protection? This is an abridged article from the FT, first published on 15 August 2017.

Western governments believe insurance will help deliver relief more effectively by putting in place a quicker and more predictable source of funds when the worst happens. But some fear the policies do not cover the real risks

The insurance industry, including ICMIF and a number of its members, has assembled a host of executives, alongside the UN and the World Bank, into a group called the Insurance Development Forum, which aims to extend the use of insurance and risk...

Monday, 14 August 2017

La XIII Reunión Anual del Grupo Latinoamericano de Reaseguros (LARG por sus siglas en inglés) se llevará a cabo entre el miércoles 23 de agosto de 2017 hasta el viernes 25 de agosto de 2017 en San Juan, Puerto Rico, con Cooperativa de Seguros Múltiples de Puerto Rico, una empresa miembro de ICMIF, como anfitrión local.

El Grupo Latinoamericano de Reaseguros es un grupo de miembros de la Federación Internacional de Cooperativas y Mutuales de Seguros (ICMIF por sus siglas en inglés) que compran sus reaseguros colectivamente. El concepto fue creado originalmente en 2004 por cinco organizaciones miembro de ICMIF y ha crecido...

Wednesday, 02 August 2017

ICMIF has announced that two leading United Nations (UN) figures, both of whom are engaged in disaster risk reduction, climate change and sustainability, have joined the line-up of keynote speakers at the forthcoming ICMIF Biennial Conference in London (17-20 October 2017).

Robert Glasser (pictured), Special Representative of the Secretary-General for Disaster Risk Reduction and head of the United Nations Office for Disaster Risk Reduction (UNISDR) will participate in the opening panel session, entitled Leadership challenges in a responsible industry, on Wednesday (18 October) morning,. This session will look the crucial role that...

Thursday, 20 July 2017

Government agencies commit support to build financial resilience of poorest and most vulnerable economies

The Insurance Development Forum (IDF), a partnership of the World Bank Group, the United Nations Development Programme, and global insurers, applauds announcements by the development ministries of the United Kingdom and Germany to dedicate support to narrow the disaster protection gap for communities in the poorest countries.

Speaking at the IDF Session at the International Insurance Society Global Forum in London, Stephen Catlin, chair of the IDF commented: “This is a...

Monday, 17 July 2017

A first-of-its-kind report on mutual and cooperative microinsurance in India entitled The missing chapter of microinsurance in India: a diagnostic of mutuals has today been published by the International Cooperative and Mutual Insurance Federation (ICMIF) and Insurance Institute of India (III). This country diagnostic study was conducted as part of the ICMIF’s 5-5-5 Mutual Microinsurance Strategy. The 5-5-5 Strategy aims to provide mutual microinsurance solutions to 5 million low-income households, in five emerging markets (India, Philippines, Kenya, Colombia and Sri Lanka) over the next five years. It is hoped that this will equate to 25...

Friday, 14 July 2017

ICMIF’s European association, AMICE has launched a new collection of best practices collected from its member organisations across the region.

The publication Good practices vis-à-vis staff, member-policyholders and society comprises 33 case studies describing initiatives in a diverse range of areas including digital solutions, claims management and health initiatives. The best practices have been developed by various European mutuals for the benefit of their staff, member-policyholders and society.

These case studies are real life examples of where European mutuals are actively working to improve customer,...

Friday, 14 July 2017

The Moneywise Customer Service Awards 2017 has once again seen awards and commendations for members of the International Cooperative and Mutual Insurance Federation (ICMIF) with other mutual players in the insurance, banking and healthcare sectors also gaining recognition.

Now in its ninth year, the survey saw 50,000 customers vote for the country’s most trusted financial services companies. The number of participants in the survey means that the Moneywise Awards are the result of the biggest poll of financial services customers of its kind in the UK.

Moneywise magazine says voters were asked which companies they used for...

Wednesday, 12 July 2017

The latest edition of the Global 500 report from the International Cooperative and Mutual Insurance Federation (ICMIF) once again presents a definitive analysis of the world’s 500 largest mutual and cooperative insurance companies* ranked by premium income, using 2015 year-end data. This is the ninth edition of the report, published annually alongside the ICMIF Global Mutual Market Share, the market intelligence report on the size and financial performance of the global mutual and cooperative (published in March 2017).

According to this year’s Global 500 report, the world’s largest mutual and cooperative insurers collectively wrote...

Wednesday, 12 July 2017

The reinsurance market has maintained the downward pricing trends seen at the January and April renewals, despite first quarter deterioration for many reinsurers’ results, according to the latest 1st View renewals report from ICMIF member Willis Re, the reinsurance division of Willis Towers Watson (NASDQ: WLTW), the global advisory, broking and solutions company.

Key findings from the report

Mid-year renewals have continued with the same downward pricing trends seen during January and April renewals, despite first quarter deterioration for many reinsurers’ results. Floridian catastrophe excess of loss buyers achieved...
Friday, 07 July 2017

This week ICMIF Supporting Member A.M. Best assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a” to ICMIF’s French member Mutuelle Générale de l’Education Nationale (MGEN). The outlook assigned by A.M. Best to these Credit Ratings (ratings) is stable. This is the first time a health mutual in France has been rated.

A.M. Best says that the ratings reflect MGEN’s solid business profile in France, modest operating performance and excellent risk-adjusted capitalisation. According to the rating agency a partially offsetting rating factor is MGEN’s significant concentration in health...