The latest Key Statistics report from the International Cooperative and Mutual Insurance Federation (ICMIF), compiled using data from 220 member organisations across 54 countries, has stated aggregate totals of USD 238 billion in premium income and USD 1.75 trillion in total assets held across the membership in 2024.
Over 221,000 people were employed by ICMIF member companies in 2024, helping to serve over 234 million members/policyholders globally.
Key findings:
- USD 238 billion in premium income (2023: 226 billion)
- USD 1.75 trillion in total assets (2023: 1.64 trillion)
- 221,929 people employed by member organisations (2023: 220,714)
- 234 million members/policyholders served (2023: 233 million)
In 2024, ICMIF members wrote an aggregate of USD 238 billion in insurance premiums, of which 57% (USD 136 billion) was in non-life insurance and 43% (USD 102 billion) was in life insurance.
Liz Green, Chief Executive Officer of ICMIF, said: “We are happy to release the findings from the latest ICMIF Members: Key Statistics report, aggregating the performance of our growing ICMIF membership, of whom the majority once again outperformed the annual growth of their respective national markets.
“Collectively, we will continue to create a better protected, more resilient world in 2024,” Green concluded.
Also included in this report are analyses of ICMIF members based on legal structure, location, and affinity group, as well as breakdowns of membership premiums by product type and distribution channels, as well as a full ranking of the ICMIF membership by premium income in 2024.
