ICMIF Supporting Member AM Best has maintained its market segment outlook on the global reinsurance industry at stable for 2021, citing factors that include positive pricing momentum, combined with tighter terms and conditions, offset somewhat by uncertainty with regard to claims reserve development associated with previous years’ property catastrophe events; social inflation; and more recently, […]
New research from ICMIF member NFU Mutual (UK) has revealed that ongoing Coronavirus lockdown measures are taking their toll on the mental health of communities across the UK. The insurer’s customer survey shows that more people are feeling stressed (+7%), anxious (+3%) and lonely (+2%) than in June. Recognising the challenges that communities are facing, […]
ICMIF member Folksam (Sweden) has signed an agreement with Pensionärernas riksorganisation (PRO) – the Swedish National Pensioners’ Organisation – to provide a range of insurance products exclusively to the organisation’s members. The agreement means that all the insurance products offered to PRO’s 320,000 members will be from Folksam. “We are very happy that, after a […]
ICMIF member NTUC Income (Income, Singapore) and Visa have together launched SNACKUP, an industry-first insurance proposition that allows consumers to build insurance coverage, contributed entirely by merchant and participating brands, when they spend with their Visa cards. SNACKUP is an expansion of SNACK, the ground-breaking lifestyle-based micro-policy insurance model that allows consumers to build or ‘stack’ insurance coverage linked to their daily activities such as […]
Insurance industry losses from natural catastrophes and man-made disasters globally amounted to USD 83 billion in 2020, according to preliminary estimates from ICMIF Supporting Member Swiss Re. This makes it the fifth-costliest year for the industry since 1970. Losses were driven by a record number of severe convective storms (thunderstorms with tornadoes, floods and hail) […]
This year, Danish ICMIF member LB Forsikring will pay out DKK 148 million as a loyalty discount to its members. This brings the total payment in yearly discounts to more than DKK 1.1 billion over the course of the last decade. A decade which has also seen uninterrupted membership growth for the insurance company. This will come as something of an early Christmas present on 21 December […]
The new Marketing mutuality case studies report from ICMIF examines the ways in which a variety of ICMIF members, all of which are outperforming in their national markets, have identified what it is about their mutual/cooperative difference that is valuable to their members and then gone on to market this in different ways. In some cases, we have reviewed past and current campaigns in a bid […]
UK-based ICMIF member NFU Mutual and The Tourism Network, a hospitality advice service, have announced a new partnership. In a joint press release, the two organisations say they believe that the UK-wide affiliation will enable The Tourism Network to bring a greater level of specialist advice to its members and to NFU Mutual’s customers in the tourism and hospitality sectors, through the availability […]
Australian ICMIF member RAC has welcomed recent statements by the State Government and State Opposition which support more sustainable transport in Western Australia (WA). At the end of November, the WA Government announced a new Electric Vehicle Strategy and AUD 21 million Electric Vehicle Fund. RAC General Manager Corporate Affairs Will Golsby expressed support for the Strategy saying it was an important step toward accelerating the uptake of electric vehicles […]
Last week, Beneva was officially unveiled as the new name for the largest insurance mutual in Canada created through the merger of La Capitale and SSQ Insurance. Proud of its new branding, identity and its values, Beneva is confident that a more caring approach will resonate with Canadians across the country. More than 75 years […]