Latest News

Tuesday, 22 November 2016

ICMIF’s Canadian member organization, The Co-operators group of companies is well represented on the lists of Best Employers in Canada released earlier this month by Aon Hewitt. It is the 14th consecutive year that The Co-operators has qualified for the prestigious lists, which are based largely on confidential surveys completed by participating employers' staff members.

"Having a highly engaged workforce is extremely important to us, and we see the benefits it brings in terms of the quality of work that comes out of people who are highly motivated, passionate and willing to go the extra mile to help achieve our goals," said Kathy...

Friday, 18 November 2016

OLDWICK, N.J. - Mutual insurers are a growing attraction as clients for reinsurers, not only because mutuals make reliable clients, but also as an alternative source of business in a segment badly in need of alternatives.

The increased interest is coming from all regional levels — international, national, one-state and mostly regional, said Chuck Chamness, president and chief executive officer of the National Association of Mutual Insurance Companies.

Chamness noted the interest “speaks to our stability” as mutuals. “When you’re engaged as a reinsurer in a financial relationship with a company, stability is a hallmark of a...

Tuesday, 15 November 2016

More than 300 business, health and technology professionals gathered at Complexe Desjardins, Montréal earlier this month for the Cooperathon 2016 finals, where the hackathon winners were announced.

The goal was to showcase their expertise, new digital technology and most importantly, their innovative ideas to find real solutions to challenges facing the sectors of healthcare, fintech, and smart and digital cities.

The Cooperathon is a cooperative marathon that focuses first and foremost on collaboration between project teammates, and with external actors such as public institutions, universities, companies and committed...

Friday, 11 November 2016

The International Cooperative and Mutual Insurance Federation (ICMIF), has just published the latest edition of its Global Reputation Report, an exclusive report for ICMIF members. The findings in this report show a dramatic increase in the global visibility of the mutual and cooperative insurance sector since 2013 and a significant increase in the sector’s share of voice within high-profile content and conversation.  

As the only global representative body for the cooperative/mutual insurance sector, ICMIF has an important role to play in measuring, building and protecting the sector’s reputation across the world. A strong...

Thursday, 10 November 2016

Stephen Catlin, Deputy Executive Chairman of XL Catlin and Chairman of the Insurance Development Forum (IDF), last week told a gathering of development sector experts that a global framework of public-private collaboration is needed to build resilience to climate change and natural disasters in the world’s most vulnerable nations.

“The growing complexity and impact of climate risks requires that the public and private sector come together to advance a new climate risk management model for the world’s most vulnerable countries,” Catlin (pictured) told attendees of the Development Finance Forum 2016, hosted by the KfW Development...

Friday, 04 November 2016

Speaking this week to the Chamber of Commerce of Metropolitan Montreal (Canada), Guy Cormier (pictured), Chair of the Board, President and CEO of ICMIF member Desjardins Group, announced the creation of a $100 million development fund that will increase Desjardins's “capacity to act”. The Desjardins Group is the world’s sixth largest cooperative financial group.

Reflecting upon a major commitment he made during his campaign to become Desjardins's next president, Cormier said that, over the next three years, the fund will "invest in entrepreneurship, business development and in economic and social innovation projects in the regions...

Thursday, 03 November 2016

Romana Abdin, Chief Executive of ICMIF member Simplyhealth Group, one of the UK’s leading health cash plan providers and owner of Denplan, a leading dental payment plan provider, has been named as The Institute of Director’s (IOD) Large Company Director of the Year at the UK Awards Final 2016.

The awards ceremony was hosted by a popular UK TV presenter, Mark Durden-Smith at the prestigious Lancaster London Hotel. The awards celebrate directors at the forefront of leadership excellence in the UK.

Earlier in the year, Abdin was also named as The IOD’s London and South East Director of the Year for a company with an annual...

Monday, 31 October 2016

Rosa Armesto, Head of Public Affairs and Communications at Insurance Europe, has today warned that insurers in Europe could face legal challenges or be forced to stop selling insurance policies if they do not have sufficient time comply with the implementation of insurance product information document (IPID). Armesto's warning came after Insurance Europe's response to a consultation by European Insurance and Occupational Pensions Authority (Eiopa) on the standardisation of the presentation format of IPIDs for non-life insurance contracts, as part of the of the Insurance Distribution Directive (IDD).

The Insurance Distribution...

Thursday, 27 October 2016

Record membership numbers boosted the aggregate premium income of members of the International Cooperative and Mutual Insurance Federation (ICMIF) in 2015, according to the Federation’s latest financial research.

The seventh edition of the ICMIF Members: Key Statistics report, an annual overview of ICMIF members’ collective financial performance, highlighted that members wrote a record level of premium income in 2015, collectively writing USD 307 billion in insurance premiums. Since 2007, members have grown their premium income by 18%, compared to an 8% growth in the total insurance industry.

Member companies from AMICE (the...

Tuesday, 25 October 2016

The International Cooperative and Mutual Insurance Federation (ICMIF) today announced that Hilde Vernaillen, Chair of the Management Committee, P&V Group (Belgium) will be the Federation’s new Chair.

The announcement comes after the ICMIF Board and Committee meetings took place in Nairobi, Kenya, on 19-21 October, hosted by ICMIF member CIC Insurance Group.

Hilde Vernaillen has been working in the financial services industry for more than twenty years and is a committed defender of the mutual/cooperative business model in insurance. She is a regular conference speaker on various subjects of insurance, mutual and...