Latest News

Monday, 03 February 2020

Swiss ICMIF member la Mobilière has taken a 25 percent shareholding in Swiss media company Ringier and the two Swiss companies have agreed to cooperate in the long-term. La Mobilière says this will enable the organisation to advance its digital transformation.

La Mobilière introduced an extensive transformation of the organisation in 2015 based on its digitalisation strategy with the aim of developing the company further and sustainably securing its long-term business success. As well as a comprehensive modernisation of its own IT landscape, la Mobilière is investing in the development of its ecosystems on all issues concerning the...

Tuesday, 28 January 2020

The International Cooperative Alliance (ICA) and the European Research Institute on Cooperative and Social Enterprises (Euricse) have just published the 2019 issue of the World Cooperative Monitor.

The 2019 edition is the eighth annual issue of the report. It explores the economic and social impact of the largest cooperatives and mutuals worldwide, providing a ranking of the Top 300, sector rankings, and an analysis of contributions towards meeting the objectives of the United Nations Sustainable Development Goals (UN SDGs).

The 2019 World Cooperative Monitor collected data for 4,575 organisations (1,152 from Europe, 3,218...

Monday, 27 January 2020

Last week US ICMIF member EMC Insurance Companies, a national property and casualty insurer, and FRISS, a leading provider of insurance fraud detection solutions worldwide, announced a partnership.

“We’re thrilled to be working together with EMC to reduce insurance fraud and further increase profitability,” said Jeroen Morrenhof, FRISS CEO and Co-founder. “We believe insurance is a beautiful thing, and we hate to see honest customers suffer because of the dishonesty of others. We’ve been fighting and reversing this trend for over a decade.”

EMC will take advantage of FRISS’ hybrid detection engine to automatically flag...

Friday, 24 January 2020

This week Dutch ICMIF member Achmea announced that it is in the top three of the most socially engaged Dutch insurers according to the Fair Insurance Guide (De Eerlijke Verzekeringswijzer). The announcement was made on Thursday 23 January 2020 following the Fair Insurance Guide’s annual survey of the investment policies of the nine largest insurance groups in the Netherlands. Achmea scored particularly well on health, employment rights, nature and arms and overall was ranked third. Achmea’s climate change score has risen from 4 to 6.

Along with a number of other financial institutions, Achmea made a commitment to the Dutch Climate...

Friday, 24 January 2020

The Swiss insurance company and ICMIF member la Mobilière is setting up an insurtech company headquartered in Dublin. This move is intended to expand its presence into digital add-on insurance across EU markets. That will enable the cooperative la Mobilière to test out a new business model ahead of time, with a view to sustaining its development and positioning itself for long-term business success.

The ongoing digital transformation we are seeing today is having an enduring impact on consumer behaviour, including in insurance. In today’s world, la Mobilière says, people need to be able to arrange cover simply, rapidly and for...

Monday, 20 January 2020

UK-based ICMIF member Ecclesiastical has set itself a target of donating £100 million to good causes and the organisation says it is on track to hit this target by the end of 2020. In August 2019, the firm revealed that it had already donated £75 million of its £100 million target to good causes since 2016 and that it believed the £100 million figure was achievable by the end of 2020. 

This month, Ecclesiastical has donated almost £5,000 to local good causes recently as it continues with its mission of creating a Movement for Good. The funds raised at the insurer’s annual charity carol concert held at Gloucester Cathedral in...

Friday, 17 January 2020

According to a new Best’s Special Report from ICMIF Supporting Member AM Best titled, Latin America: Economic and Political Risks May Subside in 2020, the rating agency expects Latin America’s economies to rebound somewhat in 2020, which would help the insurance markets in these countries better realise their growth potential. In the new report, AM Best notes that countries in Latin America are coming off of two years of low growth and headwinds due to a number of factors. These factors included the end of the commodity price super-cycle, political instability and the resulting policy uncertainty, lower global and regional growth and...

Thursday, 16 January 2020

The Taal volcano is one of the Philippines' most active volcano and recently, it has been spewing lava, triggering earthquakes and sending out large quantities of ash that have spread across the island of Luzon and beyond. Fears remain that a bigger and hazardous eruption could be imminent.

The CARD Mutually Reinforcing Institutions or CARD MRI is a group of mutually reinforcing institutions with a common goal of eradicating poverty in the Philippines and upholding the lives of Filipinos. One of these institutions is ICMIF member organisation the Center for Agriculture and Rural Development Mutual Benefit Association Inc. (CARD...

Wednesday, 15 January 2020

UK ICMIF member Royal London says the new commitment to the Principles for Responsible Investment (PRI) is part of the mutual provider’s responsible investment commitment as an asset owner to generate good returns while also making a positive contribution to society and the environment.

The six Principles for Responsible Investment are a voluntary and aspirational set of investment principles that offer a menu of possible actions for incorporating environmental, social and governance (ESG) issues into investment practice for asset managers and asset owners. The Principles were developed by investors, for investors....

Monday, 13 January 2020

In December last year, New Zealand ICMIF member MAS announced that for the fourth year in a row, the organisation had won the Consumer NZ People’s Choice Award for four insurance categories – house, contents, car and life insurance.

MAS won the People’s Choice Award in these four categories in 2016, 2017 and 2018. In 2019, MAS was the sole winner for the life insurance category, and joint winner of the house, contents and car categories alongside another ICMIF member FMG and AA Insurance.

MAS Chief Executive Martin Stokes (pictured) says the People’s Choice Award reflects the effort everyone at MAS puts into providing...