Latest News

Thursday, 28 July 2011

The Board of Directors for the World Council of Credit Unions (WOCCU) has announced that Brian Branch, WOCCU Executive Vice President and COO, will become the organization's next President and CEO. Branch will assume the post following the retirement of current President and CEO Pete Crear in August this year.

"We couldn't have selected a better leader for WOCCU," said Barry Jolette, CEO of San Mateo Credit Union (USA) and WOCCU Chair. "We've all seen the organization dramatically evolve under Pete's tenure, and we expect the same kind of growth and maturity under Brian's leadership."

Branch has worked with credit union,...

Tuesday, 26 July 2011

ICMIF Supporting Member, Willis Re, has produced a report on Solvency II and its potential impact on the mutual insurance sector. This is essential reading for all ICMIF members who will be subject to the regulations of Solvency II and will also be of interest and benefit to the wider ICMIF membership. Willis Re has consulted with a number of mutual insurers including ICMIF members Co-operative Financial Services and NFU Mutual, to produce the report and their feedback and comments are included.

In the report Willis Re highlights how the mutual insurance sector’s conservative approach to underwriting and asset allocation has served...

Friday, 22 July 2011

Invesco has issued their Economic Outlook for the third quarter of 2011. In the report John Greenwood of Invesco highlights that the debt crisis in the peripheral economies of the Eurozone continues to command the attention of global investors. A second financial rescue package for Greece was eventually approved in late June, but the provision of liquidity through this scheme does not itself address the key underlying issues of Greek competitiveness or solvency.

The report also comments that during the period from March until June 2011 consensus forecasts for US economic growth were significantly downgraded for the second time in...

Wednesday, 20 July 2011

FMG, in partnership with the New Zealand farming community, has developed an innovative new type of insurance cover for sheep farmers called “Livestock Catastrophe Insurance”.

The product is affordable and is the first of its kind in New Zealand. It is designed to help protect farmers’ bottom line in the event of large scale stock losses incurred during severe weather events and natural disasters. The product was developed as a result of recent severe weather events last September which caused devastation across the country. FMG worked closely with their international partners to develop this product which only serves to reinforce...

Monday, 18 July 2011

Urs Berger is the new Chairman of the Board at the ICMIF member organisation Swiss Mobiliar in Switzerland. Urs replaces Albert Lauper who was President for eight years. The company also has a new CEO, Markus Hongler who succeeds Urs in that position, Markus took up his new role in May of this year.

The changes to the senior executive team and Board at Swiss Mobiliar were announced in the General Assembly in Berne in May this year. The Board announced over a year and a half ago that they would be recommending these change to the Board when voting was due to take place in spring of this year.

Other Board members were voted by...

Thursday, 14 July 2011

Hilde Vernaillen has recently taken over as CEO of the P&V Group in Belgium. She succeeds the previous CEO, Jacques Forest, who retired in June after twenty years as the head of the organisation. Hilde will also be President of the P & V Management Committee.

Hilde Vernaillen is a graduate of applied economic sciences. After her studies she was engaged by the former savings bank CODEP, a subsidiary of P&V Assurances. Hilde Vernaillen carried out a number different functions within the bank – from IT Manager to Controller and before taking up her new post she was Secretary to the Management Committee and the Board.

Tuesday, 12 July 2011

Desjardins Financial Security (DFS), a Canadian member of ICMIF, has recently launched a new “Health is Cool 360º” platform which will give their members access to information on a wide range of healthcare issues.

Members will be able to access a vast range of health information via the internet, through healthcare specialists and by telephone. The information available will include treatment options, local healthcare services, an online medical library, healthcare guides related to specific illnesses and users will have a custom solution provided for them to respond to their individual enquiries.

The new Health is Cool 360º...

Thursday, 07 July 2011

The Professional Provident Society (PPS) celebrates its 70th anniversary on July 8 of this year. PPS, the specialist financial services provider for graduate professionals, attributes this significant milestone to the loyalty and trust of its valued members, intermediaries and employees, deeming it a reflection of the unwavering strength, commitment and service that it has offered over the past seven decades.

PPS was founded as The Professional Provident Society of South Africa, in Johannesburg, on July 8, 1941, by a group of eight dentists. Today, the company boasts well over 200,000 members with offices in all major South African...

Monday, 04 July 2011

French mutual insurance provider and ICMIF member, La Macif, has recently launched an online game which is free of charge and aimed at educating children aged between 5 and 10 years of age about safety in the home and how to avoid everyday dangers.

Accidents in everyday life are the main cause of deaths of children aged 15 years or under in both France and across Europe. Educating children from as early an age as possible about the dangers that exist in the home is therefore very important and it is for this reason that La Macif has introduced this new game “Les Domosores”.

The game is fun and very easy to play. The child...

Thursday, 30 June 2011

During discussions last week The Council of the European Union proposed the delay of the final Solvency II deadline until January 1, 2014. Current plans for Solvency II rulings mean that insurance companies across Europe should conform to the new regulations by January 1, 2013. The issue over whether or not the industry can be ready to implement Solvency II by that date has been debated at length for some time now.

The Council of Europe last week discussed the proposal to delay the implementation date in order to give insurance companies across the European Union more time to meet the deadlines. This would mean that, throughout...