Latest News

Monday, 25 October 2010

Philippine based ICMIF member CLIMBS has unveiled a new micro insurance product aimed at protecting the loan portfolio of cooperatives against extreme weather events. CLIMBS insures cooperatives in the Philippines and offers portfolio protection but the new product will add to the range of cover that is offered to customers.

Organisations in the Philippines have proven to be real innovators in micro insurance and this is the latest example of a cooperative insurer looking after the best interests of their customers. The new product is designed so that customers will receive a percentage of their loan portfolio if the weather...

Thursday, 21 October 2010

The approach of Solvency II in the European Union is making mutual insurers take a closer look at their capital requirements in order to comply with the upcoming regulation.

Mutuals in the Scandinavian countries, where mutual market share has traditionally been strong, are keen to maintain their existing good position and so compliance with the new laws has been a major strategic consideration.

Gunnar Andersson is the executive Vice President for strategic business development at Swedish mutual and ICMIF member Folksam and has highlighted some potential consideration in a recent interview. He said that the changes to the...

Friday, 15 October 2010

Insurance companies in New Zealand have faced a raft of challenges in the wake of the strong earthquake that rocked Christchurch around a month ago and two mutual insurers have responded admirably by helping to reduce the hassle for their customers.

ICMIF member and mutual insurer FMG have decided to waive their customer excess for all earthquake claims. CEO of FMG Chris Black said "In recognition of the toll that the earthquake is taking on our customers, we are waiving the excess on their policies when they make earthquake-related claims. We want to take as much hassle out of the process as possible." Mr Black has been visiting...

Wednesday, 13 October 2010

French ICMIF member MACIF has set up a life and health joint venture in Algeria with three other local organisations. MACIF will own a 41% share while the rest will be controlled by the three local state owned entities which include the Algerian Insurance Company (SAA), the Bank for Local Development and the Agriculture and Rural Development Bank. MACIF and SAA have had a partnership in place since 2008 and the joint venture that they have now formed has been a long running objective of this original deal.

Thursday, 07 October 2010

Juan Carlos Lucio Godoy, President of ICMIF member Rio Uruguay Cooperativa de Seguros participated as a member of the Argentinean delegation attending the "Leaders Summit 2010 Global Compact" at the United Nations headquarters in New York earlier this year.

Rio Uruguay de Seguros has been a signatory to the Global Compact since 2004, the programme having been launched by the United Nations working to seek the commitment of companies in the world for the promotion of a set of universal principles. These principles cover such things as human rights, the workplace, environmental protection and the fight against corruption.

Rio...

Tuesday, 05 October 2010

The latest edition of the Japan Cooperative Insurance Association (JCIA) newsletter is now available and as well as including information about business aspects of the JCIA member societies it also reflects how those societies are supporting environmental and social initiatives.

Zenrosai has donated a total of 1.6 million Yen to four environmental activity groups, based on the contract results as at the end of May 2009 of its ‘Fire Insurance with a Social Contribution for Eco-Houses'. This is a cooperative insurance policy provided by Zenrosai as a product which benefits society. Based on its financial results every year Zenrosai...

Thursday, 30 September 2010

Swiss Mobiliar have revealed that Markus Hongler will be appointed as their next CEO and will take up his new role in May 2011. He will replace the current CEO Urs Berger who will be moving on to become the Chair of the Board of Directors.

Hongler arrives at Swiss Mobiliar from previous company Zurich where he has performed a number of jobs including his role as the CEO of their Switzerland operations. But it was actually at Swiss Mobiliar that he started his career and he seems to relish the idea of returning describing it is an "organic step" in his career.

The Chairman of the Board of Swiss Mobiliar Albert Lauper says...

Tuesday, 28 September 2010

Willis Insurance Group, the world’s third-largest insurer, have said that oil companies should copy the nuclear industry’s member-owned mutual insurance companies to cover multibillion-dollar disasters.

The nuclear industry leads the way in dealing with this type of risk and Phillip Ellis, the chairman of global energy at Willis, says that oil companies should follow in their footsteps. He points out that they are leaders in this area of risk “because of the way they use their mutual insurance group in combination with information to learn from one another and to become better and better at how they manage risks.”

In the...

Wednesday, 05 December 2001

During the recent Biennial Conference the ICMIF General Assembly voted in a new Board of Directors for the next four years until 2015. The General Assembly also voted to increase the maximum number of Board members from 18 to 24 members. Thirteen of the existing Board are continuing to serve including John Balmforth as Chair. Anders Sundstrom has been appointed Vice-Chair replacing Jacques Forest of P&V.

The first new Board member is Denis Berthiaume. Denis is Senior Vice-President and General Manager, Wealth Management and Life and Health Insurance, of Desjardins Group, and President and Chief Operating Officer of Desjardins...

Wednesday, 05 December 2001

The latest issue of Voice, ICMIF’s quarterly magazine, is now available for download.

Packed with information, Voice gives you the global view of concerns, achievements, innovations and thought-provoking stories from the cooperative and mutual insurance sector.

Highlights in this issue include:

An interview with John Balmforth, ICMIF Chair and former CEO of AMI, New Zealand Successful values-based online marketing Using telematics in motor insurance – potential benefits regarding new EU directives Challenging times for Korean cooperative NACF as they set up a new insurance company; interview with CEO Na Dong-Min Mutuals...

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