Latest News

Friday, 11 September 2020

Eager to offer its members investment support consistent with its raison d'être, French mutual and ICMIF member MAIF has this week announced the launch of a new product: the Socially Responsible Retirement Savings Plan.

This retirement savings plan, the first on the market to be classed as a 100% socially responsible investment (SRI), expands MAIF's range of socially responsible savings products. These products created by MAIF are in response to the objective enshrined in France’s PACTE* law of promoting sustainable retirement savings and investment products in the French economy.

A new socially responsible savings product...

Thursday, 10 September 2020

Total capital dedicated to the global reinsurance industry was USD 587 billion at 30 June 2020, reflecting a 3% decline since year-end 2019, according to the latest Reinsurance Market Report from ICMIF’s Supporting Member Willis Re.

The half-year figure masks an approximate fall of 30% up to late-March, says the report, following the impact of COVID-19 on investment markets. That deficit was largely restored in the following months. Total capital remains 12% higher than at the end of 2018, suggesting that, based on current investment market levels, COVID-19 has not been a capital event for the industry.

Willis Re conducted a...

Thursday, 10 September 2020

To support charities in the UK during these challenging times, specialist insurer and ICMIF member Ecclesiastical has developed a fundraising hub with a range of resources to help charities raise vital funds.

The mutual insurer says the surge in demand for services during the pandemic, coupled with loss of funding, has put a financial strain on the UK charity sector.

Loss of funding emerged as the biggest risk facing charities over the next 12 months in a recent YouGov survey carried out by Ecclesiastical, with 71 per cent of charities more concerned now as a result of COVID-19.

A significant increase in demand for...

Wednesday, 09 September 2020

Paraguayan ICMIF member Panal Seguros is now offering a remote, video assessment of motor vehicles for both new insurance policies and renewals. Inspections of customers’ vehicles can now be carried out via a video-operating system on smartphones.

The mutual insurer has launched this new innovation to provide customers with enhanced service and customer experience without losing any quality or reliability as part of the process of taking out or renewing a policy for their vehicle.

With this application of video-operational systems to the underwriting process, Panal Seguros is the first insurance company in Paraguay to offer...

Tuesday, 08 September 2020

ICMIF member NTUC Income (Income) in Singapore has announced the expansion of the Income Family Micro-Insurance Scheme (IFMIS) to include eligible low-income families with a child or ward who is studying in a local secondary school, certain specialised schools or a pre-university institution and receiving assistance under the Ministry of Education Financial Assistance Scheme (MOE FAS), with effect from 1 September 2020. The expansion will cover over 22,000 more eligible students under IFMIS, bringing the total number covered to over 52,000. Currently, IFMIS offers insurance protection, at no premium, to more than 30,000 eligible students...

Tuesday, 08 September 2020

Swedish ICMIF member Folksam has today announced it is investing SEK 474 million in the Swedish government's first green bond. This is a green bond that will contribute to Sweden's environmental and climate goals through climate investments, railway maintenance and by protecting nature.

The state's first green bond is worth SEK 20 billion and has a maturity of 10 years. In June this year, the Swedish government decided on the framework and the selection to which the money from the bond will be linked.

“Sustainability is an issue that we at Folksam have been committed to for a long time. We see that the Swedish state issues a...

Tuesday, 08 September 2020

ICMIF member Vaudoise Assurances (Switzerland) has been recognised as number one in customer satisfaction and as best employer 2020 in the "insurance" category.

Now in its 125th anniversary year, Vaudoise Assurances was recently awarded first place in two satisfaction surveys carried out by Swiss comparison websites: for household/public liability insurance from; and motor and household/public liability insurance from Comparis.

The surveys assess satisfaction based on criteria such as competence and availability of employees, clarity and readability of customer information, service value for money and claims...

Friday, 04 September 2020

ICMIF member FMG (New Zealand) has won two Canstar Most Satisfied Customers Awards 2020, for Car Insurance and Home and Contents Insurance. The mutual insurer beat all other insurers in the New Zealand market to win these two awards for customer satisfaction.  

This year was FMG’s first appearance in the car insurance category, and its second appearance in the home and contents category as it won the Most...

Friday, 04 September 2020

ICMIF member Securian Financial (USA) has this week announced that it has signed the Accounting for Sustainability (A4S) Net Zero Statement of Support — joining 46 organisations worldwide in committing to publish a detailed pathway to net zero emissions. The company says it expects to publish a plan on its website in early 2021.

Securian Financial is a founding member of the US chapter of A4S, a project established by the Prince of Wales to inspire finance leaders to shift toward sustainable business models. A4S is one of ICMIF's global partner organisations.

Executive Vice President and CFO, Warren Zaccaro, signed the...

Friday, 04 September 2020

ICMIF Supporting Member Aviva Investors has been awarded ‘A+’ and ‘A’ ratings by the United Nations Principles for Responsible Investment (PRI), the world’s leading proponent of responsible investing, as part of the organisation’s 2020 Assessment Reports for signatories.

Maintaining its previous year’s leading scores in its response to the 2020 Annual United Nations Principles for Responsible Investing (UNPRI) report, Aviva Investors scored A+ for ‘Strategy and Governance’, ‘Listed Equity Active Ownership’ and ‘Incorporation and Infrastructure’, whilst achieving an A rating across...