Mutual and cooperative insurers generated a record USD 1.61 trillion in premium income in 2024 and maintained a 26.1% share of the global insurance market, according to the latest Global Mutual Market Share (MMS) report published today by the International Cooperative and Mutual Insurance Federation (ICMIF).

The report provides the most comprehensive assessment of the global mutual and cooperative insurance sector, drawing on data from more than 4,700 mutual insurers across 80 countries and territories.

The findings show that mutual and cooperative insurers continue to strengthen their position within the global insurance industry, achieving the highest premium volume ever recorded while maintaining more than one-quarter of the worldwide insurance market.

Key findings from the Global Mutual Market Share 2026 report include:

• Record premium income of USD 1.61 trillion in 2024, up from USD 1.50 trillion in 2023.
• A 26.1% share of the global insurance market, broadly unchanged from 26.0% in 2023, demonstrating the continued resilience of the mutual insurance model.
• Total assets of USD 10.8 trillion, with investments reaching USD 9.0 trillion.
• Approximately 856 million members and policyholders served worldwide.
• Around 1.2 million people employed across the global mutual insurance sector.

The report highlights the continued strength of mutual insurers in many of the world’s largest insurance markets. Mutual insurers hold market shares of 40% or more in countries including the United States, France and Germany, while accounting for more than one-quarter of the insurance market in 19 countries globally.

Commenting on the findings, Liz Green, Chief Executive, ICMIF, said: “At a time when trust is increasingly hard won, these findings demonstrate why mutual and cooperative insurers continue to be trusted to deliver for their members, customers and communities.

“The record premium income achieved in 2024 is not simply a measure of financial performance. It reflects the enduring strength of a business model built on member ownership, long-term stewardship and service rather than short-term shareholder returns. Mutual insurers continue to demonstrate that commercial success and social purpose go hand in hand.

“In an environment shaped by economic uncertainty, technological disruption and changing customer expectations, the mutual sector continues to adapt, innovate and grow while remaining focused on creating long-term value for the people and communities it serves,” she concluded.

While the report highlights the sector’s continued strength in established insurance markets, it also points to significant opportunities for mutual and cooperative insurers to expand their presence in emerging markets, where mutual insurance currently represents just 3.0% of total insurance premiums.

The Global Mutual Market Share report is published annually by ICMIF and is recognised as the leading source of comparative data on the size, performance and contribution of the global mutual and cooperative insurance sector. Alongside market share analysis, the report examines premium income, assets, employment, membership and policyholder data across life and non-life insurance markets worldwide.

The Global Mutual Market Share 2026 report is available to download here.