Latest News

Wednesday, 03 June 2020

Costa Rican ICMIF member Sociedad de Seguros de Vida del Magisterio Nacional (SSVMN or National Teachers’ Life Insurance Society in English) has become the first institution of its kind to be given the distinction of being “Praiseworthy of the Homeland” or “Benemérita de la Patria" (in Spanish) by the Costa Rica government. The title “Benemérita de la Patria” is a distinction given to people or organisations by the Legislative Assembly of Costa Rica as a tribute to those who, due to their merits or their works, have become worthy of recognition for their efforts to support the “Homeland” and its people. So, why SSVMN?

The mutual...

Monday, 01 June 2020

In line with its goal to be a leader in sustainability in the insurance industry, ICMIF member Folksam (Sweden) is starting to report its own carbon footprint every quarter. For the first time, it published key figures linked to its sustainability work in its interim report for the first quarter of 2020. Folksam is the first in the industry to publish this sustainability data in its quarterly reports, which traditionally only contains economic key figures, and it hopes other insurers will follow their lead.

“If we are to push through our ambitious goals, we need to show that we can integrate sustainability aspects at all levels....

Monday, 01 June 2020

ICMIF member NFU Mutual (UK) is giving its existing and new car and small van*  member policyholders complimentary or upgraded RAC home start and national recovery breakdown cover until the end of August 2020, to help customers get back on the road as lockdown restrictions are lifted during the coming months and to keep key workers and vital services moving in these exceptional circumstances.

The cover, delivered by the RAC, (a UK automotive services organisation) will be automatically given to more than 600,000 eligible customers* with NFU Mutual’s Private Car or Light Goods Vehicle insurance for three...

Monday, 01 June 2020

Japanese ICMIF member Zenkyoren (National Mutual Insurance Federation of Agricultural Cooperatives), is the national federation that manages Kyosai (the name for cooperative insurance in Japan) business for farmers in the JA Group consisting of more than 600 Japan Agricultural Cooperatives (JAs) all over Japan.

According to the 2019 issue of the World Cooperative Monitor published by the International Cooperative Alliance (ICA) and the European Research Institute on Cooperative and Social Enterprises (Euricse), Zenkyoren is ranked number 5 in the top 10 of cooperatives and mutuals worldwide by turnover.

Friday, 29 May 2020

Despite India being in lockdown for almost for two months now, ICMIF member IFFCO, a fertilizer cooperative, has been working with farmers to ensure they are equipped with what they need to continue working safely through their ‘Break the Corona chain’ campaign.

The campaign is designed to educate farmers about virus transmission, equip them with masks and sanitizers and spread the message of hygiene and social distancing and it is targeted at IFFCO’s network of almost 35,000 cooperatives spread throughout the country. According to the latest figures released by IFFCO, 1,400 awareness training programs have been conducted so far,...

Friday, 29 May 2020

ICMIF member OneFamily, a UK-based friendly society, is to use teen-friendly tech to make life easier for its 1.6 million child trust fund account holders, as their accounts mature from September this year.

OneFamily holds around a quarter of the UK’s child trust funds.  It will be working with digital identity platform Yoti to manage the secure identification of its young customers as they begin to take control of their accounts. 

Child trust funds were awarded to every child born between 1 September 2002 and 1 January 2011.  On Tuesday 1 September 2020, the first recipients will be eligible to access their...

Thursday, 28 May 2020

A recent survey by ICMIF member, NFU Mutual (UK), highlights that nearly three quarters of respondents from their membership are feeling isolated since the UK lockdown. It has therefore donated GBP 739,000 via its charitable trust, across several national charities, specifically reaching out to the isolated and vulnerable throughout the UK.

This donation is part of an overall GBP 32m support package announced in April for the benefit of its members and communities affected by coronavirus.

UK charities are currently facing a severe funding gap and therefore an inability to provide vital services due to the cancelation of...

Thursday, 28 May 2020

During the first quarter of 2020, Swedish ICMIF member Länsförsäkringar increased its investments in green, social and other sustainable bonds by SEK 3 billion (USD 310 million). Currently, more than 10% of the managed capital in Länsförsäkringar’s portfolio is now invested in sustainability-oriented bonds.

“The share of investments in green, social and other sustainable bonds seems, in our own comparison, to be the highest in the industry among Swedish trustees right now, in relation to the total invested capital” says Kristofer Dreiman, Head of Responsible Investments. “Our goal is to increase the proportion of climate-smart and...

Wednesday, 27 May 2020

The reputation of ICMIF member Achmea in the Netherlands has greatly improved in the past year according to a ranking published earlier this month by the reputation tracking organisation RepTrak. In the list, Achmea has risen from 27th place to 16th place, which is the greatest increase in position in the ranking of the top 30 of largest companies in the Netherlands by turnover.

The reputation of the companies surveyed is measured by a number of aspects. Among other things, the results of the latest survey have shown that Achmea demonstrated a strong increase with regard to "having a positive influence on society" and also on...

Wednesday, 27 May 2020

In the face of the COVID-19 emergency in El Salvador, local ICMIF member Seguros Futuro is working to help member policyholders who may be experiencing financial difficulties. The organisation is doing this through economic measures which benefit the insured population by ensuring they keep their cover. This means that there is a loss of premium income for Seguros Futuro for a limited period of time but the cooperative insurer says the measures are part of its social responsibility efforts to help members. The aim is to:

Achieve the loyalty of policyholders through financial solutions in a time of need Maintenance of cover for...