Latest News

Friday, 08 June 2012

One of ICMIF’s Supporting Members, A.M. Best, has opened an office in Miami, Florida to serve the growing market for insurance ratings in the Latin American region. Earlier this year, A.M. Best also opened an office in Dubai, UAE. Miami is A.M. Best's fifth global office location.

Jorge A. Gonzalez has been appointed to manage the Miami office. Gonzalez is an insurance and reinsurance veteran who has worked and resided in Latin America and Miami for decades. The Miami office will be used for management meetings and other activities focused on the Latin American (re)insurance markets.

"With the increasing focus on solvency...

Friday, 01 June 2012

‘UK Executive board members must evidence a superior level of challenge regarding the complexities of Solvency II regulations or face losing their FSA approval’.

 This was just one of the tough messages of reform that were applauded by leaders from the global mutual insurance industry during the recent ICMIF Solvency II Solutions Seminar which took place on Thursday, May 24, 2012 during a ‘closed door’ private seminar in London, UK.

More than 50 ICMIF members and specially invited guests assembled at the Willis Building, London to discuss how the mutual insurance industry can thrive within the complex Solvency II regulatory...

Thursday, 31 May 2012

Puerto Rican cooperative insurer and member of ICMIF, Seguros Múltiples, has launched a mobile application “Text U Later” in cooperation with the Commission for Traffic Safety in Puerto Rico, to educate and warn people about the dangers of using mobile phones while driving. With this application the insurance cooperative allows drivers to avoid unnecessary distractions which could cause a traffic accident.

When calls or texts come in to a driver’s mobile phone the application generates an automatic text message indicating that the driver is busy, saying: "Driving and texting do not go together. Courtesy notice from Seguros...

Monday, 28 May 2012

Engage Mutual has introduced a strategy to be rolled out over the next few years that seeks to ensure the organisation will be even more relevant to its customers and make a genuine difference to people’s lives. Its first execution  -, a community website, has just been launched.

Designed around the needs of the 'sandwich' generation that is juggling a frenetic range of priorities in their busy lives – typically supporting their elderly parents and helping their children make a start in life - provides information, support and an environment where those who have challenges and experiences in...

Thursday, 24 May 2012

The video presentations and slides from the 2012 Meeting of Reinsurance Officials, held May 2-4 in Paris, France are now available on the conference web site.

We would like to thank all those who joined us, and are delighted to report that initial analysis of feedback suggests that this MORO has surpassed previous events in terms of the quality of agenda and presentations and the business relationships fostered and maintained.

Addressing delegates with his keynote speech, Paddy Jago, President of Willis Re, said: “You (mutuals) are product focused and know your market, but the competition will fight your knowledge with their...

Tuesday, 22 May 2012

More than 60 delegates have now registered to attend our free, ‘closed door’ Solvency II Solutions seminar in London this week on Thursday, May 24. With places filling up fast, ICMIF urges its members to register immediately to avoid disappointment. The delegate list is now available online. Delegates attending are from ICMIF member organisations along with other guests as invited by the ICMIF Supporting Members.

ICMIF’s Supporting Members – Willis Re, PartnerRe, Invesco, Risk Dynamics, A.M. Best and Clyde & Co have collaborated to deliver a unique one day event tailored to the specific Solvency II challenges facing our global...

Monday, 21 May 2012

ICMIF member The Co-operators (Canada) has recently released its eighth annual sustainability report, inviting readers to "Take a Closer Look." The document outlines the organization's progress in 2011 in achieving its economic, social and environmental objectives.

As reported in ICMIF e-news, the organization's sustainability efforts were recognized in 2011 with a #1 ranking on the list of "50 Best Corporate Citizens in Canada" by Corporate Knights, an organization that promotes socially responsible business practices and the advancement of social and environmental sustainability worldwide. The Co-operators was also included among...

Wednesday, 16 May 2012

We are delighted to announce that Peter Skinner, MEP and Rapporteur for the European Parliament for Solvency II and EIOPA and long-time member of the Economic and Monetary Affairs Committee (ECON), will join Jonathan Evans MP, in a lively debate from both a national and European viewpoint on the opportunities and challenges that Solvency II presents during the forthcoming ICMIF Solvency II Solutions seminar on May 24, 2012.

For ICMIF members this is the ideal opportunity to learn about the current state of play for Solvency II implementation and specifically about the issues and benefits for the mutual and cooperative sector during...

Monday, 14 May 2012

The second volume of the Microinsurance Compendium has recently been published by the Microinsurance Innovation Facility (part of the International Labour Organisation - ILO) and the Munich Re Foundation. The latest Compendium examines recent developments and achievements in the microinsurance sector.  This volume brings together current thinking of many leading academics, actuaries, and insurance and development professionals in the microinsurance field.

Since the publication of the first edition of the Compendium in 2006 the microinsurance sector has changed enormously. With almost 500 million people now covered by microinsurance...

Thursday, 10 May 2012

ICMIF Supporting Member, Willis Re, the global insurance broker, has released a report discussing the challenges and opportunities available to mutual insurers through diversification.

The report, subtitled Navigating the Pitfalls in Pursuit of Successful Diversification, examines, through discussion and the use of case studies, how the unique characteristics of mutual insurers mean that some are being encouraged towards diversification by regulators and rating agencies, and considers some of the issues that need to be addressed by mutuals to ensure success in diversifying.

The report explains that regulations introduced in...