The mutual and cooperative insurance market has been the fastest-growing part of the global insurance industry in the 10-year period since the global financial crisis, according to the Global Mutual Market Share 10 report launched today by the International Cooperative and Mutual Insurance Federation (ICMIF). This is a special 10 year anniversary edition of the […]
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ICMIF, the Federation representing the global mutual and cooperative insurance industry today announced the addition of a new Supporting Member, Berkley Re, which specialises in providing international property and casualty reinsurance worldwide. The International Cooperative and Mutual Insurance Federation (ICMIF) represents 197 member organisations in 66 countries which collectively wrote USD 232 billion in premiums […]
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Pricing in the global reinsurance sector remains disappointing following the 1 January 2019 renewals, according to a new report from ICMIF Supporting Member AM Best, as expected rate increases following heavy catastrophe losses in 2017-2018 did not come to fruition. The Best’s Market Segment Report, entitled, “Reinsurance: Will Investor Losses Lead to a Rising Tide for Pricing?,” […]
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The results of a recent survey by the Centre for Public Opinion Studies in Argentina on the way insurers manage and pay customers’ claims show that four ICMIF member organisations feature in the top ten best-performing companies in 2018. The survey was carried out on behalf of NBS Banks and Insurance news website. The four ICMIF […]
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The CLIMBS Institute for Financial Literacy (CIFL), a subsidiary of ICMIF member CLIMBS Life and General Insurance Cooperative, is partnering with the Co-operative College (based in Manchester, UK) to bring the College’s certificated Executive Education Programme to the Philippines for the first time ever. The course will take place on 21-23 February 2019 in Manila. The course will […]
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Over the last few years in Canada, extreme weather and flooding have become more frequent, more severe and so has the cost to homeowners. It’s a trend that is expected to continue. Prior to 2015, Canadian homeowners were unable to buy insurance to protect their home and belongings from overland flooding. There was a clear […]
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ICMIF member Royal London (UK) has this week received the highest possible “Gold” accreditation for outstanding customer experience in the Investor in Customers (IIC) Awards. This is the third year in a row that Royal London has been awarded Gold accreditation. According to Investor in Customers, Royal London has continually exceeded expectations in delivering great customer experience, with customers’ […]
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Peak Reinsurance Company Limited (“Peak Re”), a global reinsurer based in Hong Kong, recently published a new report on Mutuals and Cooperatives and Community based Organisations (MCCOs). The report is entitled “Relevance of Mutual and Cooperative – Lessons learned from developed Europe and Asia” and it aims to highlight the importance of MCCOs to the insurance industry […]
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Reinsurance placements at 1 January 2019 highlight a pricing gap between accounts with peak peril exposures or poor loss records and the rest, with many reinsurers placing emphasis on the quality of client counterparties, according to the latest 1st View renewals report from ICMIF member Willis Re. The report notes a two-track trend as having been especially evident […]
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The Prince’s Accounting for Sustainability Project (A4S) was established by His Royal Highness, The Prince of Wales in 2004 with the aim of inspiring action by finance leaders to drive a fundamental shift towards resilient business models and a sustainable economy. To do this, the organisation has three core aims: inspire finance leaders to adopt sustainable and […]
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