Latest News

Thursday, 09 February 2017

Early in December 2016 a new international network of insurance regulators and supervisors, the Sustainable Insurance Forum (SIF), was launched to promote cooperation on critical sustainable insurance challenges, such as climate change. The network was convened by the United Nations Environment Programme (UNEP) and co-hosted by UNEP and the California Department of Insurance.

The first meeting of the Sustainable Insurance Forum was held in San Francisco and it included insurance supervisors and regulators from Brazil, California, France, Ghana, Jamaica, Morocco, the Netherlands, Singapore and the UK, as well as the ...

Wednesday, 08 February 2017

Despite the pressures the global reinsurance market is facing, the industry remains on track to close out another profitable year, meaning that pricing stabilization remains a major challenge for (re)insurers, according to the latest 1st View Renewals Report from Willis Re, one of the Supporting Members of the International Cooperative and Mutual Insurance Federation (ICMIF). Willis Re is the reinsurance division, the reinsurance division of Willis Towers Watson, the global advisory, broking and solutions company.

According to the report, while there are signs that reinsurers are not prepared to be as...

Wednesday, 08 February 2017

There has been significant progress with the International Cooperative and Mutual Insurance Federation’s (ICMIF) 5-5-5 Mutual Microinsurance Strategy in India, with the selection of the first two cooperatives to partner with Uplift Mutuals (the flagship programme of Uplift India Association).

The signing of the new cooperatives, Prem Sewa Mahila Cooperative Credit Society Ltd and Sahajivan Mahila Nagari Cooperative Credit Society Ltd, will contribute to Uplift’s goal of providing health mutual aid coverage to an additional half a million low-income people in India within the next five years.

Kumar Shailabh,...

Wednesday, 14 December 2016

ICMIF Supporting Member A.M. Best is holding its 2017 outlook for the global reinsurance sector at negative, citing the continued market challenges that will hinder the potential for positive rating actions over time and may eventually translate into negative rating pressures.

The Best's Briefing, entitled, "Global Reinsurance Outlook Maintained at Negative" notes that as compression continues bearing down on investment yields and underwriting margins, the strain on profitability is evident in reduced risk-adjusted returns. The market headwinds at this point, says the briefing, present significant longer-term challenges that...

Friday, 09 December 2016

ClimateWise, the global network of 29 insurance industry organisations convened by the University of Cambridge Institute for Sustainability Leadership, has warned of the urgent need to address the growing USD 100 billion annual climate risk 'protection gap' in the two new reports it has published this week: Investing for Resilience and the ClimateWise Principles Independent Review 2016. The International Cooperative and Mutual Insurance Federation (ICMIF) has been a partner organization of ClimateWise since 2012.

The two reports were launched on Wednesday 7 December to over 100 delegates from across the insurance industry including...

Thursday, 08 December 2016

The Co-operators, a Canadian member of the International Cooperative and Mutual Insurance Federation (ICMIF), has been awarded an Excellence in Governance Award in the category of Best Practices in Sustainability and Environmental, Social and Governance (ESG) issues from the Governance Professionals of Canada.

The Co-operators was recognized for its progress in embedding sustainability and ESG considerations into every aspect of its business. This includes a variety of initiatives ranging from the introduction of new sustainable products and services, to redefining the manner in which it operates to achieve goals such as...

Wednesday, 07 December 2016

The Association of Mutual Insurers and Insurance Cooperatives in Europe (AMICE) and other European partners have today launched a new biennial European Mutual Insurance Award. The aim of the award is to encourage younger members within the industry and academia to pursue research on the mutual and cooperative insurance model. One of the partners is ICMIF/AMICE member UAAM-VVOV, Union des Association d’Assurance Mutuelle/Verbond der Verenigingen van Onderlinge Verzekering, which represents the Belgian mutual and cooperative insurance undertakings and groups,

A prize of EUR 2500 will be given every two years to a research paper of...

Friday, 02 December 2016

Leading advocate for the mutual and cooperative sector, Mutuo, has this week launched new policy proposals to help make business work in the interests of ordinary citizens. The launch of the report The People’s Business: Framing the Progressive Narrative: A Mutual and Cooperative Approach to the Economy and Society took place at the Foundation for European Progressive Studies (FEPS) office, Brussels (Belgium).

The People’s Business report, says Mutuo, seeks to put cooperatives and mutuals at the heart of business policy and calls on progressive politicians to support and champion these forms of business.

The report, says...

Wednesday, 30 November 2016

Today, 30 November 2016, Helen Sheppard, AMICE Deputy Secretary General, will take part in a workshop on the external dimension of Social Economy at the International conference on Social Economy under the auspices of the Slovak Presidency of the EU Council currently being held in Bratislava. Her intervention will focus on the mutual and cooperative insurance sector and the specificities of the model to the audience. More specifically, she will focus on the important role that the International Cooperative and Mutual Insurance Federation (ICMIF) plays in raising awareness about the model and in encouraging the creation of mutual/...

Friday, 25 November 2016

ICMIF member Takaful Insurance of Africa’s innovative index-based livestock insurance policy has been recognized internationally for its success protecting low-income pastoralist farmers in Kenya from drought and climate change.

The New York Times has hailed the project as “cheaper and better than life insurance”, and the UK-based Guardian publication has praised it as “a promising option for addressing poverty traps that arise from catastrophic drought risk”. Furthermore, Andrew Mude, a senior Kenyan economist at the International Livestock Research Institute (ILRI), who was behind the initial formulation of the index-based policy...

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