Latest News

Monday, 17 December 2018

The Prince’s Accounting for Sustainability Project (A4S) was established by His Royal Highness, The Prince of Wales in 2004 with the aim of inspiring action by finance leaders to drive a fundamental shift towards resilient business models and a sustainable economy.

To do this, the organisation has three core aims:

inspire finance leaders to adopt sustainable and resilient business models Transform financial decision making to enable an integrated approach, reflective of the opportunities and risks posed by environmental and social issues Scale up action across the global finance and accounting community

The project works...

Thursday, 13 December 2018

Regis Mutual Management, has been included in the 2017/2018 edition of The Parliamentary Review which was published in October 2018. The Parliamentary Review is an annual publication which highlights best practice in different industry sectors in the UK. Read the full article from Regis in the insurance edition of the Review here.

Established 10 years ago, Regis Mutual Management (Regis) has, the organisation says, ushered in a compelling new era for mutuality at a critical time for the UK financial services community and the economy at large. Set against the context of uncertainty following the 2008 banking crisis, the Regis...

Wednesday, 12 December 2018

Business Council of Co-operatives and Mutuals (BCCM) one of the Australian members of the International Cooperative and Mutual Insurance Federation (ICMIF) last week announced that its board has been re-elected in full.

The BCCM Chairperson for 2019 is Terry Agnew

The BCCM Board of Directors for 2019:

Ian Gillespie – re-elected as Director Greg Wall – re-elected as Director Jimmy Wilson – re-elected as Director

BCCM CEO Melina Morrison said the re-election was fantastic news for the cooperative and mutual sector. “The Business Council of Co-operatives and Mutuals are delighted such high-calibre board members...

Monday, 10 December 2018

Dr Jaime Aristotle Alip (pictured, centre), Founder of the ICMIF 5-5-5 Mutual Microinsurance Strategy and a fomer Chair of the ICMIF Development Committee, has today (10 December 2018) joined the opening session at the second InsuResilience Global Partnership Forum taking place in Katowice (Poland).

The framing session, entitled Effective risk financing and insurance solutions for the poor and vulnerable took place from 9:05-9:45 local time and was hosted by Dr Astrid Zwick of the InsuResilience Secretariat.

Dr Alip discussed his experience in extending microinsurance to poor communities in the Philippines to protect them...

Friday, 07 December 2018

ICMIF Supporting Member A.M. Best has revised its market segment outlook for the global reinsurance industry to stable from negative for 2019, citing factors stemming from a growing alignment between traditional and third-party capital among non-life reinsurers. A more-stabilized pricing environment—albeit at levels still below long-term adequacy—a rising interest rate environment, emerging growth opportunities and ongoing stability in the global life reinsurance segment also are factors in the outlook revision.  

A new Best’s Market Segment Report, titled, “Market Segment Outlook: Global Reinsurance,” states that reinsurers...

Friday, 07 December 2018

Many Canadians are already experiencing challenging weather conditions with snow and sub-zero cold. These freezing temperatures can wreak havoc on homes, causing pipes to freeze and ice damming. Water is the most common cause of damage and accounts for 50% of home insurance claims costs. And although home insurance policies cover accidental damage resulting from a burst water pipe, a leaking dishwasher or an overflowing bathtub, a recent Desjardins survey reveals that 50% of respondents do not know what types of water damage is covered. When asked if their home was ever damaged by water, 26% say yes but most (43%) said they don't...

Thursday, 06 December 2018

ICMIF's Supporting Member A.M. Best has announced that it has been registered as a credit rating agency (CRA) by the European Securities and Markets Authority (ESMA) to provide ratings through its new subsidiary, A.M. Best (EU) Rating Services B.V., based in Amsterdam, the Netherlands.

A.M. Best’s London-based subsidiary, A.M. Best Europe — Rating Services Limited, is at present registered with ESMA in Paris, which allows it to provide rating services throughout the European Union (EU) on a cross-border basis. The new registration of its office in Amsterdam, with effect from 3 December 2018, will enable A.M. Best to continue to...

Wednesday, 05 December 2018

Sri Lanka needs proper regulation for microinsurance to enable this sector to grow, according to a new report produced by the International Cooperative and Mutual Insurance Federation (ICMIF) and the Institute of Policy Studies of Sri Lanka (IPS).

Entitled Country diagnostic on mutual and cooperative microinsurance in Sri Lanka, the report is the outcome of a first-of-its-kind study to investigate the landscape of microinsurance delivered by mutual and cooperative insurers in Sri Lanka, and was conducted as part of the ICMIF 5-5-5 Mutual Microinsurance Strategy. The report was formally launched on the first day of the ICMIF Asia...

Tuesday, 04 December 2018

Insurers around the world should receive fair regulatory treatment, according to their nature, scale and complexity, a conference of mutual and cooperative insurers will hear at the second joint AMICE-ICMIF regulatory event taking place in Paris today. More than 100 delegates will hear from leading industry representatives, practitioners, global regulators and policymakers about regulatory developments impacting the insurance industry. Hosted by French mutual Covéa, delegates from the Americas, Europe and Asia will examine regulatory convergence activities and assess how well they ultimately serve the policyholder.


Thursday, 29 November 2018

Earlier this month (13 November 2018) the United Nations Environment Finance Initiative (UNEP FI) announced a partnership with 16 of the world’s largest insurers including two members of the International Cooperative and Mutual Insurance Federation (ICMIF); The Co-operators (Canada) and Länsförsäkringar Sak (Sweden). This new Insurer Group represents around 10% of world premium and USD 5 trillion in assets under management and has the goal of developing a new generation of risk assessment tools designed to enable the insurance industry to better understand the impacts of climate change on their business. 

According to a recent...