International Cooperative and
Mutual Insurance Federation

ICMIF has just published the latest version of ICMIF Members Key Statistics 2011: Premium Growth, which analyses in detail the financial data about member companies at a global and regional level between 2007 and 2011.

“Now in its fourth year, The 2010 Mutual Market Share showcases the Federation’s latest annual research about the size and performance of the cooperative and mutual insurance market sector.”

“This report provides a summary of the corporate governance of ICMIF members in 2010, with comparisons from 2005.”

“ICMIF members increased their premium income in 2010 by 5.3%, with a total market share of 5.66%”

“It’s our time …”

“Enhance the value that can be generated from sustainability”

“ICMIF members hold a market share of 9.9% in non-life business and 3.3% in life business”

“The mutual market share at the end of 2008 was 24% showing an increase from 2007 of 1%”

“CSR offers value from both a strategic and economic perspective”

“CSR reporting provides the link between making promises and keeping them”

“The mutual market share at the end of 2007 was 22.6% showing a slight decrease from 2006 of 23.6%”

“Considers the principles and processes adopted by a number of ICMIF members who are already embracing their role as sustainable businesses”

“The mutual market share at the end of 2006 was 23.9% showing a slight decrease from 2005 of 24.7%”

One of the most significant shifts in consumer behaviours in recent years has been the increased use of online sources for researching, transacting and post-sales service. Online presents the insurance industry, both life and general, with some important business opportunities, many of which have as yet been untapped.

“GPS technology is also providing new directions for the marketing and underwriting of motor insurance”

“The main approaches used by ICMIF members to communicate their values online”

It’s also difficult to imagine someone better qualified to lead DEVK than its current CEO, Friedrich Gieseler, for railways run deep in his family. His father Willi worked in management for the German railway service and Mr Gieseler himself began working for the state railway operator Deutsche Bahn (DB) after completing his degree in business administration. Two years later, when he was 24, he switched from DB to DEVK, and since then his whole management career has been built entirely with the insurer.

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For CEO Jens Bærentsen, Alka’s values permeate all aspects of its work. He detects, he says, a real battle of ideas in the insurance industry between cooperatives and mutuals, who operate on the basis of a common pooling of deposits to help those who have accidents, and publicly listed insurers with their emphasis on profitability (and, all too often, on raising premiums). “To me it’s very important that we keep to our principles. We are driven by a focus on our customers, not the bottom line,” he says.

Extract from ‘Danish cooperative insurer Alka aims for the simple life’

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