Income OrangeAid, the community development arm of Singapore-based ICMIF member NTUC Income (Income), announced this week that it is extending its flagship initiative, the Income OrangeAid Future Development Programme (FDP), for another two years (2018 to 2019). This follows the success of the initiative for the past three years in providing Singaporean students from low-income […]
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Carol Poulsen, Executive Vice-President and Chief Information Officer (CIO) of Canadian ICMIF member The Co-operators has been named one of the 10th annual Global Breakaway Leadership Award winners as part of Gartner Evanta’s Global CIO Executive Summit. The award recognises five CIOs who are revolutionising their organisations’ competitive position in the marketplace through visionary leadership […]
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New research from UK-based ICMIF member The Association of Financial Mutuals (AFM) shows that UK mutual providers are leading the way in paying claims. “Our survey of nine income protection members of AFM showed that in 2017 they paid out on 93.7% of claims. That is significantly higher than the industry average, and clear evidence […]
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In this A.M.BestTV episode recorded at the ICMIF Meeting of Reinsurance Officials (MORO) conference in Montreal earlier this week, insurers and industry leaders said nations that restrict cross-border insurance, manipulate interest rates and react to disasters with short-sighted solutions are limiting insurers’ ability to provide a full range of risk solutions. Click here to view the […]
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Findings in the latest Reinsurance Market Report from ICMIF member Willis Re (released Monday 23 April) show that shareholders’ equity in 34 reinsurance companies tracked in the Willis Reinsurance Index[1] was up 7.8% to USD 371 billion at year-end 2017. The report states that this increase occurred despite catastrophe losses, which led to a weighted […]
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Today sees the opening of the International Cooperative and Mutual Insurance Federation (ICMIF) Meeting of Reinsurance Officials (MORO) in Montreal, Canada. The MORO Conference takes place 23-25 April and this year’s theme is Reinsuring the mutual way. This year’s MORO has attracted elite leaders from the global reinsurance industry and is the cooperative and mutual […]
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DEVK, a German member of the International Cooperative and Mutual Insurance Federation (ICMIF), has announced its pledge to support the ICMIF 5-5-5 Mutual Microinsurance Strategy. DEVK will be providing financial assistance to the project in the Philippines under the 5-5-5 Strategy, which will directly assist with providing mutual microinsurance to 5 million people from low-income […]
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Puerto Rican ICMIF member Cooperativa de Seguros Múltiples has now paid 92% of the claims which arose due to Hurricane Maria. They have paid 52,582 claims already said the cooperative with just 4,787 remaining. The cooperative issued a statement at the close of business on Wednesday 11 April that 92% of the 57,369 claims received had been […]
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French ICMIF members, Groupe VYV and the MAIF Group, and in particular its life insurance subsidiary Parnasse MAIF, have this week announced that they will partner to bring a new life insurance offering to the market in France. This announcement this week confirms the desire for multisectoral collaboration between the two mutual groups, Groupe VYV […]
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According to the latest 1st View renewals report from ICMIF member Willis Re, the April renewals saw the continuation of a broadly flat pricing environment. The report found that that there was a rapid reload of insurance-linked securities (ILS) funds following initially overstated Hurricane Harvey, Irma and Maria losses. There was a continued capital oversupply, […]
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