Latest News

Thursday, 03 September 2020

Dutch ICMIF member Achmea has announced that it will be able to halve the number of physical appointments made to customers’ homes for the handling of damage claims in the coming period.

Currently, property repair companies visit tens of thousands of homes and businesses which have suffered damage every year on behalf of Achmea. They generally make two visits as part of the claims process: once to assess the damage and then a second visit to repair it. Where possible, the damage will now be recorded digitally. This benefits the speed of the handling of the claim and also reduces CO2 emissions as the repair company does not need to...

Wednesday, 02 September 2020

In an announcement today, ICMIF's Supporting Member AM Best said its continued stable outlook on the global reinsurance industry is reflective of negative market forces, predominantly driven by the COVID-19 pandemic, social inflation and previous years’ property catastrophe events, being offset by hardening rates and a re-assessment of third-party capital investor appetite.

In its new Best’s Market Segment Report, “Global Reinsurers Maintain Equilibrium Through COVID-19 Turbulence,” AM Best notes that while the ultimate impact of the pandemic remains to be seen, some companies appear better positioned than others to adapt to these...

Wednesday, 02 September 2020

American Agricultural Insurance Company, a global provider of reinsurance services and one of ICMIF’s North American member organisation, has announced a rebrand aimed at aligning the company’s image with its current mission, vision, and role in the marketplace.

The company will now refer to itself as AmericanAg™, a name that honours its roots as a reinsurance provider for the Farm Bureau® insurance companies many of which are mutual companies, while its new tagline – “Reinsuring your world” – points to its growing presence in the broader domestic and international reinsurance marketplace.

Tuesday, 01 September 2020

Acting responsibly is a tradition for German ICMIF member R+V Versicherung. The cooperative insurer has this week announced that it has signed the Principles for Responsible Investment (PRI) supported by the United Nations (UN).

The goal of the PRI international investor network of asset managers, banks and insurance companies from around 80 countries is to create a more sustainable global financial system. As one of the leading insurers in Germany, R+V say it is now also supporting the PRI investor initiative. R+V has joined the fund company Union Investment, another major partner of the cooperative financial group Volksbanken...

Tuesday, 01 September 2020

Swedish ICMIF member Folksam has announced a SEK 10 billion investment in the real estate credit fund Brunswick Real Estate Capital III (BREC III). This is Folksam's single largest investment ever. The fund will focus on commercial properties with clear sustainability goals.

Through a strong institutional capital base, with investors such as Folksam and KLP, the fund can offer real estate loans with maturities of up to ten years. A formal first closure of the fund is expected in the autumn. With this investment Folksam is diversifying its asset portfolio by increasing its exposure to loans with sustainable real estate investments...

Thursday, 20 August 2020

Canadian ICMIF member Wawanesa Mutual Insurance Company (Wawanesa) has announced that it has successfully brought commercial and garage property products onto its Guidewire InsuranceSuite™ platform, placing Wawanesa among the first insurance providers in Canada to have its entire product suite online. These new digital capabilities support Wawanesa and its broker community in the goal of providing exceptional customer service.

“This is the last step in a technological transformation that we started in 2015 and has culminated in a new digital foundation that allows us to integrate with broker APIs, digitize our business processes,...

Thursday, 20 August 2020

UK ICMIF member Cornish Mutual has pledged to provide communities across the South West of England with 1,000 hours of volunteering during 2020. The rural insurer is actively supporting its employees in their efforts to volunteer across a wide range of good causes in their own neighbourhoods.

Last year, the Cornish Mutual team totalled-up around 700 hours of volunteering by helping charities and community groups.

Now, with its team members working almost entirely from home due to the coronavirus pandemic the insurer is encouraging employees to come forward with ideas of how they can make a difference in their own communities...

Wednesday, 19 August 2020

ICMIF member MAS (New Zealand) has announced that it will be returning NZD 1.7m in savings made on reduced motor vehicle claims during the COVID-19 lockdown to its members. 

This pass-back forms a major pillar of the MAS Relief Package which the mutual launched in April, which was established to help the organisation’s members cope with the financial impact of the COVID-19 lockdown. 

As well as committing to passing back these savings, MAS is also setting up an NZD 2m Hardship Fund for Members suffering financial difficulty due to the lockdown, and several health and wellbeing initiatives. 

During Alert...

Tuesday, 18 August 2020

Covid-19 has caused major disruption to how businesses are able to work in the UK and as lockdown lifts, adapting to the new normal is crucial to survival for many says UK ICMIF member Ecclesiastical. The mutual specialist insurer has therefore used its risk expertise to help businesses prepare.

To help businesses develop a strategic risk-based approach to doing business and ensure they are able to cope in the “new normal”, Ecclesiastical has created a planning framework to help organisations set out their next steps as they return to work while keeping risks and opportunities at the forefront.

COVID-19 has exposed new...

Monday, 17 August 2020

Danish ICMIF member LB Forsikring has announced some good news for green car owners as the mutual insurer now offers a discount on car insurance for all cars that have achieved 5 stars in the Green NCAP test. Green NCAP is an independent initiative which promotes the development of cars which are clean, energy efficient and which are not harmful to the environment. It aims to improve air quality and to maximise the use of resources used for passenger transportation and to reduce global warming. LB Forsikring says it hopes this will give members greater incentive to choose climate-friendly cars and join the insurer in the push towards a...