ICMIF Supporting Member AM Best has maintained its market segment outlook for the global reinsurance segment at stable, citing substantial rate improvement, primarily in property lines, with higher average attachment points expected to result in widening profit margins. According to the recent Best’s Market Segment Report, Market Segment Outlook: Global Reinsurance, there were additional factors […]
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ICMIF member OneFamily (UK) has launched a digital platform that will support its plans for growth whilst empowering its customers with complete control and easier access to their finances. OneFamily says the first wave of this digitisation programme has seen the successful migration of over 1 million customers to a singular, self-service platform. The mutual […]
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ICMIF member FMG (Aotearoa/New Zealand) has announced this month that it is now a certified B Corp. The mutual says it is joining the ranks of global heavy hitters such as Patagonia and Ben and Jerry’s, alongside another ICMIF member Simplyhealth – all of which are working towards the shared goal of delivering benefits for […]
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The International Cooperative and Mutual Insurance Federation (ICMIF) and the Association of Mutual Insurers and Insurance Cooperatives in Europe (AMICE), the voice of the mutual and cooperative insurance sector in Europe, have together published the European Mutual Market Share 2023 report. A comprehensive statistical study, the European Mutual Market Share 2023 report documents the size […]
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Last week, ICMIF member Achmea (Netherlands) published an update of its Climate Transition Plan. For the first time, Achmea is setting interim targets to reduce CO2 emissions through its insurance policies. Publishing and updating a Climate Transition Plan annually is part of the Dutch financial sector’s Climate Commitment. Organisations such as banks, insurers, pension funds […]
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ICMIF Supporting Member Peak Re, a Hong Kong-based global reinsurer, has announced the key findings of its flagship 2023 Asia Middle-Class Consumer Survey*. This year’s study, done in collaboration with Intuit Research, focuses on consumers’ needs and attitudes towards health, mental well-being and cybersecurity. Some of the key findings include: When diagnosed with a serious […]
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ICMIF member Royal London (UK) has announced it has wholly acquired the later life lending and product specialists Responsible Life and Responsible Lending (the “Responsible Group”), subject to regulatory approval. The acquisition builds on Royal London’s existing 40% stake in the businesses. Founded in 2010, Responsible Group is a market-leading later life mortgage broker and […]
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A whitepaper published this month by ICMIF Supporting Member Gallagher Re, Improving climate resilience with parametric insurance, examines the role of parametric insurance in mitigating climate change and how index-based products can help governments and policyholders tackle flood risk. The paper is part of Gallagher Re’s COP28 content. The paper’s findings state that as climate […]
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Based on the basic concept of ” seamlessly standing closer ” to its members and local residents, Japanese ICMIF member Zenkyoren says it aims to provide new added value, focusing on services such as health promotion and disaster prevention, mitigation and recurrence prevention. As part of this effort, Zenkyoren has been conducting a “Healthy Body […]
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According to the new sigma report from the Swiss Re Institute, Risk on the rise as headwinds blow stronger, the global insurance industry’s strengthening financial position offers welcome reinforcement against elevated macroeconomic and geopolitical risks. The Institute says it forecasts a slowdown coming to the world economy as headwinds from tighter monetary policy gather force […]
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