Latest News

Thursday, 23 February 2017

According to a new briefing from ICMIF Supporting Member A.M. Best, regulatory risk is growing for reinsurance companies, which could represent a mix of favourable and unfavourable changes for offshore domiciles should US tax reforms be adopted.

The new Best’s Briefing, titled Shifting Tides in Global Regulation Present Challenges and Opportunities states that should tax and regulatory changes result in lower after tax earnings, organizations would likely respond by finding alternative operating structures to sustain earnings and manage capital cost efficiently. This also could potentially lead to the decline of one...

Thursday, 23 February 2017

China's first mutual insurer, Zhonghui Property Mutual Insurance, has opened this week in Beijing.

Zhonghui Property Mutual Insurance has initial working capital of CNY 1 billion (USD 146 million) which has come from 12 founding members and has 546 member/policyholders so far. The mutual will offer credit insurance to small and medium-sized businesses and will also offer short-term health and personal accident insurance.

In July 2016 the International Cooperative and Mutual Insurance Federation (ICMIF) welcomed the approval of three licences by the China Insurance Regulatory Commission (CIRC) for the establishment of three...

Thursday, 23 February 2017

ICMIF Supporting Member Willis Re was recently awarded best Reinsurance Broker at the annual MENA Insurance Awards during an award ceremony which took place on 1 February 2017 at the Ritz Carlton Hotel, Dubai.

The event recognized and rewarded MENA-based insurers, reinsurers and brokers that have demonstrated exceptional customer service and innovative product development over the past 12 months.

Nominees were judged based on who has shown the best business strategy and maintained a strong client base over the past year. Key criteria included quality of advice to clients, diversity of product offerings, innovation, setting...

Tuesday, 14 February 2017

Denis Berthiaume, Senior Executive Vice-President and COO of Desjardins Group led the Top 25 rankings in the Quebec financial industry and was this week named Financial Personality of the Year for 2016 by Finance et Investissement (Finance and Investment) magazine. The award was bestowed on Berthiaume at an industry gala held on Tuesday 7 February at Le Windsor in Montreal.

In a statement Desjardins said that the award is a testament to all of the hard work by Berthiaume at Desjardins Group as the head of the Wealth Management and Life and Health Insurance sector.

"I am proud of this recognition on a personal level...

Tuesday, 14 February 2017

The Achmea Foundation, a Netherlands-based member of the International Cooperative and Mutual Insurance Federation (ICMIF) has joined other ICMIF member organisations in supporting ICMIF’s 5-5-5 Mutual Microinsurance Strategy. Other organisations already contributing to the 5-5-5 project are The Co-operators, Canada and Länsförsäkringar AB, Sweden which are both providing financial support to Uplift Mutuals (the flagship programme of Uplift India Association).

ICMIF’s 5-5-5 Mutual Microinsurance Strategy is a five year project based in five emerging market countries which aims to provide five million...

Thursday, 09 February 2017

The International Cooperative and Mutual Insurance Federation (ICMIF) has welcomed a new member, KASAGANA-KA Mutual Benefit Association, Inc., based in the Philippines to its family of over 290 mutual and cooperative member companies. KASAGANA-KA Mutual Benefit Association, Inc, more commonly known as KMBA, provides affordable insurance products and services to poor women and their families. Established in 2006, KMBA is a sister organization of the Kasagana-Ka Development Center, Inc. (KDCI), whose client-beneficiaries and staff members constitute KMBA’s primary members. Moreover, KMBA offers associate membership to client...

Thursday, 09 February 2017

For the first time in its history, ICMIF member Securian Financial Group is expanding beyond its home territory of the United States. The 136-year-old financial services company has signed a definitive agreement with ivari to purchase its affiliate companies that are leading providers and distributors of insurance products to Canadian banks, credit unions and retailers.

The businesses to be acquired by Securian include insurance manufacturers Canadian Premier Life Insurance Company and Legacy General Insurance Company; distributor CRI Canada; and Selient, which provides customized loan and...

Thursday, 09 February 2017

Länsförsäkringar AB, Sweden, has announced its support for the International Cooperative and Mutual Insurance Federation's (ICMIF) 5-5-5 Mutual Microinsurance Strategy in India. This support will go towards assisting the Uplift Mutuals organization (the flagship programme of Uplift India Association) with its goal of providing health mutual aid to an additional half a million low-income people over the next five years.

Länsförsäkringar AB joins ICMIF’s Canadian member The Co-operators in the growing list of member companies which are providing financial and technical assistance to the Uplift project. 


Thursday, 09 February 2017

Registration has opened for the premier gathering of the mutual and cooperative insurance industry, the ICMIF Biennial Conference 2017.

The event will take place from 17–20 October 2017 in the Bankside area of London, UK, at the Hilton London Bankside Hotel.

Redesigning insurance

The ICMIF Biennial Conference 2017 is created for mutual and cooperative insurance leaders who want a conference with a difference. A conference that creates real, lasting value for their organization and its member-owners. A conference that stimulates original ideas for better business performance; that offers clear insights into...

Thursday, 09 February 2017

Earlier this month Simplyhealth, a UK-based member of the International Cooperative and Mutual Insurance Federation (ICMIF), announced that it has become the new title sponsor of UK’s biggest mass participation running series of events – known as The Great Run Series. The Great Run events include the world’s largest half marathon, now called the Simplyhealth Great North Run.

The sponsorship began with the Simplyhealth Great Winter Run and The Simplyhealth Great Edinburgh International Cross Country, featuring quadruple Olympic Gold medallist and newly knighted Sir Mo Farah, which were held in Scotland’s capital city on...