On 4 November 2022, members of the senior management team of ICMIF member CLIMBS Life and General Insurance Cooperative, led by its CEO and President Noel D. Raboy, visited the headquarters of KBC in Leuven (Belgium) for a meeting and training from the KBC group to help them with growing their digitalisation and improving data […]
Farming insurance specialist and UK ICMIF member Cornish Mutual has made a ‘significant investment’ in start-up regenerative farming consultancy Terrafarmer. The investment is a first for Cornish Mutual and is part of its service expansion to increase support for farmers through current and upcoming challenges. Peter Beaumont (pictured centre), Managing Director for Cornish Mutual said: […]
In early December 2022, two Canadian ICMIF members, Beneva and Wawanesa Insurance announced that they were each giving more than a million Canadian dollars to support the community through United Way workplace giving campaigns. For Beneva, this amount was collected during the mutual’s internal philanthropic campaign which ran from 24 October to 4 November 2022. […]
Last month, Alejandro Simón, CEO of ICMIF member Grupo Sancor Seguros (Argentina), visited Pope Francis at the Vatican City in Rome (Italy) and shared news of the actions carried out by the Fundación Grupo Sancor Seguros (Sancor Seguros Group’s Foundation). Simón focused on what has been done in terms of consolidation and promotion of School […]
The African Risk Capacity (ARC), a provider of parametric insurance products in Africa, has announced the official launch of a parametric insurance product against high-impact epidemic risks. Subscription to the insurance product was made possible through ICMIF member African Risk Capacity Limited (ARC Ltd), a hybrid mutual insurer and financial affiliate of the African Risk […]
ICMIF member, Royal London (UK), has introduced a series of changes to its mental health underwriting philosophy. The changes improve outcomes for members and are part of its commitment to regularly enhance the most common areas of underwriting disclosure. Royal London has a strong track record in underwriting clients with a mental health condition; from […]
Japanese ICMIF member Zenkyoren (National Mutual Insurance Federation of Agricultural Cooperatives) has announced that it has signed the Principles for Responsible Investment (PRI), which is supported by the United Nations (UN). The PRI is a set of principles that encourages institutional investors to incorporate environmental, social, and governance (ESG) issues into their investment decisions in […]
In November 2022, the Government of Canada released its first National Adaptation Strategy: Building Resilient Communities and a Strong Economy, establishing a vision for a more resilient Canada, and setting a whole-of-society blueprint for more coordinated and ambitious action to combat climate change. The announcement also included CAD 1.6 billion in new federal funding commitments […]
New research from the International Cooperative and Mutual Insurance Federation (ICMIF) found that in 2020, 27.8% of directors serving on ICMIF members’ boards were women, this is ahead of the financial industry average of 23.3% in 2020* and the insurance industry average of 26% in 2019**. This is a substantial increase from 20.6% in 2015 […]
ICMIF Supporting Member AM Best has maintained its market segment outlook for the global reinsurance segment at stable, citing the presence of highly uncertain market conditions with positive and negative factors offsetting one another. Chief among the negative drivers is the heightened natural catastrophe activity that continues to test investors’ risk tolerance levels, according to […]