Latest news from the sector

Read and share inspirational stories collected from across the ICMIF membership.

ICMIF member RAC unveils Australia’s first on-demand, automated vehicle — the RAC Intellicar

Australian ICMIF member RAC has this week seen the arrival in Perth of one of the world’s first driverless, on-demand vehicles, after the official unveiling of the RAC Intellicar (pictured with the RAC Intellibus) on Wednesday 12 September. Designed as a shared mobility service, the RAC Intellicar will become the newest addition to RAC’s automated vehicle programme, supported by […]

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ICMIF welcomes new Chair of the Insurance Development Forum

Shaun Tarbuck, Chief Executive of the International Cooperative and Mutual Insurance Federation (ICMIF), today welcomed the appointment of Denis Duverne as Chair of the Insurance Development Forum’s Steering Committee, succeeding Stephen Catlin (effective 11 September 2018).   Tarbuck, who co-chairs the IDF Microinsurance Working Group said: “On behalf of the International Cooperative and Mutual Insurance […]

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Underlying return on equity deteriorates at H1 2018: Willis Re Reinsurance Market Report

According to the findings from the latest Reinsurance Market Report from ICMIF member Willis Re, shareholders’ equity in 34 reinsurance companies tracked in the Willis Reinsurance Index1 totalled USD 364.9 billion, a 1.6% decrease from USD 371 billion at year-end 2017. The decrease occurred despite an improvement in net income of nearly 75% to USD […]

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2018 January and April renewals disappointing: A.M. Best annual commentary on the global reinsurance sector

Optimism over a turn in the global reinsurance market after the catastrophes seen in 2017 quickly diminished after disappointing renewals for 1 January and midyear 2018, providing minimal pricing increases to reinsurers and leaving market dynamics relatively unchanged, according to a new report from ICMIF Supporting Member A.M. Best. The new Best’s Market Segment Report, […]

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The Insurance Development Forum appoints Ekhosuehi Iyahen as Secretary General

The Insurance Development Forum (IDF) has today announced the appointment of Ekhosuehi Iyahen (pictured) as its first Secretary General, effective 1 October 2018. The IDF is a public-private partnership led by the insurance industry and supported by international organisations including the International Cooperative and Mutual Insurance Federation (ICMIF). It aims to enhance the use of […]

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UK mutuals see premium income soar in 2017

According to the latest edition of Mutually Yours, the digital news service provided by the Association of Financial Mutuals (AFM), members of AFM saw their premium income soar to over GBP 1 billion during 2017. This, says the AFM, is an increase of over GBP 100 million in the year or an increase of 12.2%. […]

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Insurers are pursuing a range of post-Brexit plans, says A.M. Best Senior Director

In this A.M.BestTV episode, Catherine Thomas, Senior Director of Analytics at ICMIF Supporting Member A.M. Best, said insurers are creating subsidiaries, building new relationships and transferring liabilities in an effort to prepare for possible outcomes depending on how Brexit proceeds. Click here to watch the entire programme. Thomas addressed how companies are handling Brexit. “Over the […]

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RAC WA overtakes the competition for property insurance recommendations in Australia

A new study has revealed that ICMIF member RAC WA is Australia’s Most Recommended Brand in property insurance for 2018. The 2018 Property Insurance Consumer Recommendation and Loyalty Study, conducted by Australian business consultancy Engaged Strategy, surveyed over 1,600 Australian property insurance customers using advanced Brand and Customer Experience metrics, including the popular Net Promoter […]

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AVBOB celebrates centenary anniversary with ZAR 3.5 billion benefit for members

South African ICMIF member AVBOB Mutual Assurance Society has this month celebrated its 100 year anniversary. To celebrate this momentous milestone AVBOB announced plans on Wednesday 15 August 2018 to allocate ZAR 3.5 billion to their members through a new and exciting member benefit known as the AVBOB Reward Account (ARA). AVBOB is Africa’s largest Mutual Assurance […]

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ICMIF member Ömsen enters the personal healthcare insurance market

ICMIF member Ömsen (Finland) has launched a new type of mutual insurance cover for customers and entered the personal lines market by introducing a healthcare insurance for its local market. The company says the product was launched to help promote a healthier Åland (the autonomous Finnish province which the company serves). Ömsen says it is […]

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