Latest News

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...

Friday, 10 January 2020

In December last year, the latest annual cycle of Continuous Training for Insurance Brokers working for Argentinian ICMIF member San Cristóbal Seguros came to an end. This training programme has taken place every year for the last 21 years. A training and loyalty day for the company’s brokers (known in Spanish as “Productores Asesores de Seguros” or PAS) was held in each of the nine cities where San Cristóbal Seguros has branches (with a total of 1,000 brokers). The focus this year was on digital transformation, a trend that ICMIF is seeing across its membership.

The topics addressed over the course of the 2019 broker training...

Thursday, 02 January 2020

According to the latest 1st View renewals report from ICMIF Supporting Member Willis Re, reinsurers have been judicious during the 1.1 renewal period, leading to significant pricing and capacity variance depending on geography, product line, loss record, and individual client relationships. As a result, the report concludes, the renewal season has concluded later than in previous years.

Findings in the report state that, in general, US placements were more challenging than international renewals, with UK motor and some international liability accounts being the exceptions to the rule, while property catastrophe (cat) proved less...

Friday, 20 December 2019

Earlier this month, the team at ICMIF donated an assortment of Christmas presents and chocolate selection boxes to a local charity The Children’s Adventure Farm Trust (CAFT) to be distributed to children at Christmas parties organised at the Farm. The team who visited the Farm to give the gifts to the charity also had the very special mission of dressing up as festive mascots to welcome the children to the Farm that day.

CAFT is based very close to the ICMIF office and the Farm provides a variety of fun days and short holidays for terminally ill, disabled and disadvantaged children from all over the North West of the UK. ICMIF...

Thursday, 19 December 2019

ICMIF member the P&V Group (Belgium) has this week signed an agreement to acquire all the shares in Belgian life insurance company Private Insurer. Private Insurer has 18 employees and collected in EUR 70 million in premiums in 2018. The acquisition should be finalized before the end of the first quarter of 2020, subject to approval by the National Bank of Belgium.

Through this acquisition the P&V Group will strengthens its life insurance product offering in terms of life products known in Belgium as Branch 23. Branch 23 products do not offer a guaranteed return. The return depends on the investment funds which the policy...

Thursday, 19 December 2019

A Co-operative Executive Masterclass, organised by The Co-operative College in partnership with ICMIF, took place on Monday 25 November 2019 at ICMIF’s offices near Manchester (UK). This Masterclass was organised for a delegation from ICMIF member organisation CLIMBS Life and General Insurance Cooperative (the Philippines) along with other cooperative delegates from other organisations in the Philippines.

The Masterclass focused on the following topics:

How do cooperative leaders think globally and act locally? What values make a cooperative leader and why? How to adopt a values-led, adaptive and ethical leadership approach...

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