One of ICMIF’s Supporting Members, the rating agency AM Best, announced last week that it is developing stress testing that it will conduct on its rated insurance companies’ balance sheets to gauge the impact of the COVID-19 virus fallout on their risk-adjusted capital levels, investment portfolios, reserve adequacy and other aspects of the risks borne by rated […]
During uncertain times, the mutual and cooperative insurance sector has always stepped up to respond to the needs of its members and their communities. Here at ICMIF we believe it is important that we too step up to follow those principles now as we all confront the Coronavirus (COVID-19) pandemic. The entire ICMIF team are […]
Earlier this week, Dutch ICMIF member Achmea announced that over 11,000 colleagues were working from home in order to keep the insurer’s operations running smoothly and to be there for their customers at this challenging time. In a press release this week, Achmea noted that the impact of the coronavirus on the lives of more and more […]
Mark Caron, Internal Auditor of ICMIF member P&V Assurances (Belgium) and Marten Naaktgeboren, Investment Consultant of member Achmea (Netherlands) each recently took part in Technical Assistance (TA) assignment as part of the ICMIF 5-5-5 Mutual Microinsurance Strategy projects in Kenya. Whilst these were separate assignments, facilitated by ICMIF, there was a connection between them. At the […]
Swedish ICMIF member Länsförsäkringar has invested SEK 300 million in a social bond issued by the International Finance Corporation (IFC), part of the World Bank, to support those affected by Covid-19. Kristofer Dreiman (pictured), Head of Responsible Investments, Länsförsäkringar AB, said: “The purpose of the bond is to support the work being done to manage the health and economic […]
Swedish ICMIF member the Folksam Group has invested SEK 700 million in a social bond issued by the International Finance Corporation (IFC), part of the World Bank that targets the private sector. The bond is issued to provide financial support to companies affected by the Covid-19 pandemic. The purpose of the support is to enable companies to continue to […]
On 9 March 2020, ICMIF member Securian Financial (USA) held its third Day of Understanding as part of the company’s commitment to encouraging conversations around diversity and inclusion. To coincide with International Women’s Day (8 March 2020), the Day of Understanding topic focused on gender bias and common biases women experience in the workplace that impede their […]
Thanks to ICMIF’s 5-5-5 Mutual Microinsurance Strategy, 1.86 million low-income households in Kenya, India and the Philippines have been covered with mutual or cooperative microinsurance since the Strategy launched in June 2016. This means almost 10 million lives have been protected (averaging five individuals in a household) at a cost of less than one US dollar per household. […]
In the lead up to International Women’s Day 2020 last week, ICMIF was delighted to see the news that recently elected President and CEO of ICMIF member the Folksam Group (Sweden), Ylva Wessén, has been named the 17th most powerful woman in the Swedish business sector in 2020 by Dagens industri (a Swedish business news site). Speaking about this […]
Last November, ICMIF member Royal London (UK) launched The penny drops podcast which is aimed at helping members understand their money and make better informed financial decisions. The monthly podcast series covers the big personal finance topics such as savings, pensions, budgeting, debt, family finance, marriage and retirement – as well as other issues that money can have an […]