International Cooperative and Mutual Insurance Federation

History

The International Cooperative and Mutual Insurance Federation (ICMIF) is a long established and unique global organisation representing cooperative and mutual insurers from around the world.

Initially established in 1922 as the Insurance Committee of the International Cooperative Alliance (ICA) with a view to strengthening collaboration amongst cooperative and mutual insurers, ICMIF has grown over the years.

With just five member cooperative insurers when it was formed, today’s ICMIF has grown hugely, with significant numbers of new members joining over the years.

By 1993, when the present Secretariat was established, 75 organisations were members, representing 45 countries. By 2015, this number had risen to more than 230 members with approximately one-third of the membership in Europe, a further third in the Americas and the remainder representing Asia and Oceania, Africa and the Middle-East.

A further 1,500 mutual insurers are indirect members of ICMIF through their national mutual trade associations. ICMIF can truly claim to be the voice of the world’s cooperative and mutual insurance sector, which according to ICMIF’s Global Mutual Market Share report accounts for 27% of the world’s insurance market.

The important and common bond uniting ICMIF members is there long term outlook and that they place the interest of policyholders/members before those of shareholders, working hard to ensure that they offer the best possible range of affordable products for their customers. See ICMIF’s Global Reputation Report for more details.

Continually seeking to broaden the scope of member representation has resulted in many new members joining ICMIF, thereby increasing the networking and leverage that ICMIF has in the global financial services market.

ICMIF aims to influence and collaborate with the cooperative and mutual insurance sector globally by being a leader in providing information and services to members, and representing the interests of, the global cooperative and mutual insurance sector.