Over recent months Belgian cooperative insurer P&V Assurances, a member of the International Cooperative and Mutual Insurance Federation (ICMIF), has used a number of ways of raising new capital. Some has come from existing (institutional) cooperators and other organisations and some from a more recent public issuing of capital to customers, staff and tied agents. Hilde […]
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Insurance-linked securities (ILS) is now an established asset class that is continuing its momentum despite the challenges of the catastrophe events in 2017, according to a new Global ILS Market Survey published this week by Willis Towers Watson. End investors, Insurance-Linked Securities (ILS) funds, and buyers – the three groups active in ILS – have predominantly weathered 2017 […]
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At the forthcoming ICMIF Intelligence Committee (IC) meeting in Espoo (Helsinki, Finland) which will take place 8-9 November 2018, members of the Committee have been encouraged to bring a younger colleague with them to join the strategic discussions on current issues and emerging trends impacting the cooperative and mutual insurance industry worldwide. The meeting in […]
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The World Council of Credit Unions (WOCCU) has this week released its newest Statistical Report, which provides membership and financial data as of December 2017 from credit unions and other financial cooperatives worldwide. This year’s report includes information from 89,026 credit unions serving over 260 million members in 117 countries. The global credit union family is […]
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ICMIF member CyberScout has this week announced a new partnership with another member of the Federation, Länsförsäkringar, a group of customer-owned insurance companies that provides personal, commercial, pet and life insurance, as well as bank, life and pensions services throughout Sweden. Established in 1843, Länsförsäkringar is the largest non-life mutual insurer in Sweden, with a market share exceeding 30 […]
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Thrivent, a member of the International Cooperative and Mutual Insurance Federation (ICMIF) based in the USA, announced last week that Brad Hewitt (pictured, see here at the 2015 ICMIF Biennial Conference) will retire as CEO and Terry Rasmussen has been appointed as his successor. “Brad has provided visionary leadership in moving Thrivent forward in its […]
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A.M. BestTV: Hurricane Michael is likely to take a bigger toll on reinsurers, say A.M. Best analysts
In this episode of A.M.BestTV, David Blades, Senior Research Analyst, and Chris Draghi, Senior Financial Analyst, both from ICMIF Supporting Member A.M. Best, say that rated insurers operating in Florida (USA) appear prepared to absorb anticipated catastrophe losses from Hurricane Michael, with reinsurers expected to take a larger share of losses than they did for […]
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Australian ICMIF member, the Business Council of Co-operatives and Mutuals (BCCM) yesterday (Thursday 4 October) warmly welcomed the publication of draft legislation that will begin the process of modernising the Federal law for mutual businesses in Australia. The legislation forms the first part of a two-phased approach to improve the business environment for mutually owned firms and improve their […]
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Although Florida’s insurance market-share leaders possess strong levels of risk-adjusted capitalisation that should provide a buffer against Hurricane Michael losses, insurers, reinsurers and insurance-linked securities investors could face significant losses, according to a new briefing from ICMIF Supporting Member A.M. Best published last week on 10 October. The Best’s Briefing, “Insurers and Reinsurers Brace for […]
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The new International Financial Reporting Standard (IFRS 17) could provide better insight into underwriting performance and enable comparisons to be drawn between insurers, according to a new briefing from ICMIF Supporting Member A.M. Best. The Best’s Briefing, “New Accounting Standard IFRS 17 Will Provide Enhanced Reporting,” notes IFRS 17 calculations aim to bring consistency and comparability across […]
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