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Friday, 21 September 2018

La Asociación Latinoamericana para la Educación en Reaseguro – Grupo LARG - es un grupo de aseguradoras mutuales / cooperativas de América Latina. Todas estas compañías son miembros de la Federación Internacional de Cooperativas y Mutuales de Seguros (ICMIF). El concepto de LARG fue creado originalmente en 2004 por cinco organizaciones miembros de ICMIF para comprar sus reaseguros colectivamente y el grupo ha crecido constantemente desde entonces y ahora incluye 14 organizaciones miembro.

La Reunión Anual de la Asociación Latinoamericana para la Educación en Reaseguro tendrá lugar la próxima semana, del 25 al 28 de septiembre, en...

Friday, 21 September 2018

The Latin American Association for Reinsurance Education (LARG) is a group of mutual/cooperative insurers from Latin America. All these companies are members of the International Cooperative and Mutual Insurance Federation (ICMIF). The LARG concept was originally set up in 2004 by five ICMIF member organizations in order to purchase reinsurance collectively and the group has grown steadily since and now includes 14 member organizations.

The Annual Meeting of the Latin American Reinsurance Group (LARG) will take place next week, from 25-28 September, in Panama City (Panama) with ICMIF member company Seguros Fedpa S.A. as this year’...

Wednesday, 19 September 2018

In 2018, A.M. Best-rated U.S. property/casualty mutuals experienced a modest deterioration in underwriting results in 2017 owing largely to catastrophic events; however, these mutual insurers still posted growth in surplus and net premiums written. This is according to the Best’s Market Segment Report, “U.S. P/C Mutual Insurers: Moderate Surplus Growth Despite Elevated Losses” which was published this week by ICMIF Supporting Member A.M. Best.

The report states that surplus growth, an important performance metric for mutual companies, rose by nearly 6.0% during 2017, driven predominantly by USD 21 billion in unrealized capital...

Wednesday, 19 September 2018

2018 is the second year that ICMIF Supporting Member Willis Re has carried out a market survey about silent cyber exposure — potential cyber-related losses due to silent coverage under insurance policies not specifically designed to cover cyber risk.

Findings from the 2018 Silent Cyber Risk Outlook show that insurance companies expect increased cyber-related losses across all business lines over the course of the next year, driven by increasing reliance on technology and high-profile cyber-attacks. Since the 2017 survey, there have been some headline silent cyber losses in lines as diverse as property, marine, and directors and...

Monday, 17 September 2018

A new report on the landscape of mutual microinsurance in Kenya has been published today by the International Cooperative and Mutual Insurance Federation (ICMIF). 

The report, entitled ICMIF country diagnostic report on mutual and cooperative microinsurance in Kenya, was written in partnership with Kenyan-based ICMIF member organisations CIC Insurance Group (CIC) and Takaful Insurance of Africa (TIA). Local researchers ACRE Africa and SBO Research were commissioned to carry out the research. The findings of this report demonstrate that Kenya has a thriving cooperative sector and they have given rise to an evidence-based...

Monday, 17 September 2018

A five-year project to provide low-income dairy farmers with livestock microinsurance in Kenya will be launched by Kenyan cooperative insurer CIC Insurance Group (CIC) at a formal event taking place today in Nairobi. This venture has been formulated as part of the International Cooperative and Mutual Insurance Federation’s (ICMIF) 5-5-5 Mutual Microinsurance Strategy, which aims to enable microinsurance delivered by mutual and cooperative insurers to reach scale in emerging market countries. The 5-5-5 Strategy is a unique initiative which aims to build the resilience of low-income communities by ensuring the provision of low-cost...

Friday, 14 September 2018

In this A.M.BestTV episode from the 2018 Les Rendez-Vous de Septembre (Rendez-Vous) conference in Monte Carlo (Monaco) a panel of A.M. Best analysts said reinsurers still face profitability pressures, but the increasing demand for insurance is providing growth opportunities. Click here to view the entire programme from ICMIF Supporting Member A.M. Best. Participating on the panel were Stefan Holzberger, Senior Managing Director and Chief Rating Officer; Robert DeRose, Senior Director; and Anthony Diodato, Managing Director. All three discussed A.M. Best’s market segment outlook on the reinsurance market. “Reinsurers are very well-...

Friday, 14 September 2018

In this A.M.BestTV episode from the 2018 Les Rendez-Vous de Septembre (Rendez-Vous) conference in Monte-Carlo (Monaco) reinsurers and related professionals gathered amid an evolving landscape and challenging market conditions. Click here to view the entire programme from ICMIF member A.M. Best. Attendees said companies need to adapt or they will vanish, while pricing pressure, alternative capacity, market consolidation and capital management also are capturing industry attention. “I think that the leading topic is going to be what is in store for pricing terms and conditions,” said Robert DeRose, Senior Director, A.M. Best. “People are...

Thursday, 13 September 2018

Australian ICMIF member RAC WA has this week seen the arrival in Perth of one of the world’s first driverless, on-demand vehicles, after the official unveiling of the RAC Intellicar (pictured with the RAC Intellibus) on Wednesday 12 September.

Designed as a shared mobility service, the RAC Intellicar will become the newest addition to RAC’s automated vehicle programme, supported by the Western Australia (WA) State Government and vehicle manufacturer, NAVYA.

RAC Group CEO, Terry Agnew, said the arrival of the prototype vehicle was a significant transportation milestone for both Western Australia and Australia as a whole....

Wednesday, 12 September 2018

Shaun Tarbuck, Chief Executive of the International Cooperative and Mutual Insurance Federation (ICMIF), today welcomed the appointment of Denis Duverne as Chair of the Insurance Development Forum’s Steering Committee, succeeding Stephen Catlin (effective 11 September 2018).  

Tarbuck, who co-chairs the IDF Microinsurance Working Group said: “On behalf of the International Cooperative and Mutual Insurance Federation I would first like to thank Stephen for his tremendous work with the IDF since its creation in 2016. He has done an excellent job of ensuring that the IDF is a strong platform for private and public-sector...

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