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ICMIF Members: Key Statistics 2023

The report provides analysis of the collective performance of the 197 members that make up ICMIF today and compares their performance to that of the total insurance market in both the long and short-term. 

Key findings: 

  • USD 249 billion in premium income 
  • USD 2 trillion in total assets 
  • Over 230,000 people employed by member organisations 
  • 333 million members/policyholders served 
  • 46.7% growth in premium volume since 2007 compared to total insurance market growth of 36.1% 

In 2021, ICMIF members wrote an aggregate of USD 249 billion in insurance premiums, of which 44% (USD 109 billion) was in life insurance and 56% (USD 141 billion) was in non-life (including health) insurance. 

Shaun Tarbuck, Chief Executive of ICMIF, said: “We are proud to report the findings from the latest ICMIF Members: Key Statistics report, which shows ICMIF members’ annual growth of 9.9% exceeding the total insurance market figure of 8.7%, as both the mutual/cooperative insurance sector and the total insurance industry continues its rebound from COVID-19. 

“We hope to see these trends continue in 2023, in both financial and non-financial metrics, as we collectively aim to create a safer, more resilient world,” Tarbuck concluded.  

Also included in this report is analysis of ICMIF members based on legal structure, location, and affinity group, as well as a list of ICMIF’s fifty largest members today. 

More information

If you would like more information on the topic or case studies presented above, please contact us. We are here to make tailored introductions to your fellow ICMIF members and we can also share other member-only resources with you based on your specific challenges and interests.

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