Latest News

Wednesday, 22 July 2020

ICMIF member the Sancor Seguros Group has launched Argentina’s first public trust for investments in early-stage sci-tech start-ups. The investment trust is being offered through CITES, Sancor Seguros Group’s own venture capital initiative and the only one in Latin America. The investment trust has a nominal value of up to USD 24 million and will invest in early-stage sci-tech start-ups based in highly profitable, dynamic sectors. It is the first such investment vehicle to be authorised by the National Securities Commission (the agency in charge of the promotion, supervision and control of the capital market).

Alejandro Simón, CEO...

Tuesday, 21 July 2020

By including its purpose and social and environmental commitments in its articles of association, French ICMIF member MAIF says it has chosen to strengthen the impact of its actions by making them measurable and enforceable. This decision was made during an extraordinary general meeting held remotely on 11 July 2020 that the MAIF elected officials adopted a proposal that the mutual insurance company would officially be known as a société à mission* (in English, a company with a mission).

A mission monitoring committee and an independent third-party body will be responsible for checking that the company’s future actions are in line...

Tuesday, 21 July 2020

Earlier this year, ICMIF member San Cristóbal Seguros (Argentina) was announced as the winner of the 2020 Celent Model Insurer Award in the category for Data, Analytics, and AI, recognising innovations by the insurer in its fraud detection processes using computer vision and deep learning.

The global Celent Model Insurer Awards recognises the effective use of technology by insurers through their implementation of IT programmes that epitomise best practices for technology projects. San Cristóbal was commended for a successful use case of matching machine learning capabilities and an iterative testing cycle. The executive-sponsored...

Monday, 20 July 2020

For the eleventh consecutive year, ICMIF member The Co-operators has been recognised as a Corporate Knights Best 50 Corporate Citizen in Canada. The annual ranking issued by Corporate Knights measures companies' environmental, social, and governance–related performance. In the 2020 ranking, The Co-operators was recognised for leadership in sustainability, earning the number 4 spot. Last year, it was named Canada's number one corporate citizen on the 2019 list.

"This recognition as a meaningful contributor to a sustainable economy is an important reflection of our commitment to helping to build more resilient communities," says Rob...

Monday, 20 July 2020

On 25 June 2020, Japanese ICMIF member Kokumin Kyosai Co-op (the National Federation of Workers and Consumers Kyosai Cooperatives (Zenrosai)) released the results of its survey on changes in awareness of community spirit and a willingness to help others, or “mutual help” as it is commonly known in Japan, during the COVID-19 pandemic.

After rebranding from "Zenrosai" to a new brand "Kokumin Kyosai Co-op" in June 2019, with the slogan of “Promote Mutual Help Network in Society", Kokumin Kyosai co-op has continued its efforts toward the realization of its philosophy of "building an affluent and safe society...

Friday, 17 July 2020

On 1 June 2020, ICMIF member Thrivent (USA) launched a new brand to reflect its purpose and promise to clients as part of its ongoing transformation as an organisation. The new brand is intended to fuel growth and relevance among a new generation of clients and show how Thrivent is a truly unique financial services organisation.

Thrivent’s new brand reflects its fundamental purpose as an organisation: “We believe humanity thrives when people make the most of all they’ve been given.” Thrivent has also refined its promise to clients: “We’re here to help you achieve financial clarity, enabling lives full of meaning and gratitude.”...

Thursday, 16 July 2020

Last month, ICMIF member Desjardins (Canada) announced that its property and casualty insurance subsidiaries would be issuing a total of CAD 100 million in premium refunds to their 2.1 million Canadian auto insurance clients.  

This announcement follows an initial refund of close to CAD 50 million (announced in April) to auto insurance clients who were staying at home and driving significantly less as a result of the physical distancing and other government measures implemented due to COVID-19, bringing the total close to CAD 150 million. 

More people are working from home than ever before. Combined with the...

Thursday, 16 July 2020

ICMIF member Unimutual (Australia) has launched Unipedia, a new open source resource portal for its members. Unimutal’s aim is to build “…the Wikipedia of higher education, university, and research risk management tools”, helping its members to grow stronger and adapt to changing circumstances.

Unimutual’s member community has always been a space for collaboration and learning from shared experiences. Unipedia will make it easier for members to share resources and knowledge with each other, helping them benefit from the industry-wide experiences of its membership pool.

The open source model is a decentralised development...

Thursday, 16 July 2020

Ethics constitute a fundamental pillar in the management of our organisation, says Brazilian ICMIF member Seguros Unimed. The cooperative insurer has just signed up to the Pact for Integrity and Against Corruption which was launched by the Instituto Ethos (Ethos Institute). The Ethos Institute of Business and Social Responsibility is what is known as a Civil Society Organisation of Public Interest in Brazil and its mission is to mobilise, raise awareness and help companies manage their business in a socially responsible manner, making them partners in building a fair, equitable and sustainable society.

Seguros Unimed, the insurance...

Tuesday, 14 July 2020

In April of this year, ICMIF Supporting Member AM Best revised its market segment outlook on Italy’s life insurance market to negative. Key factors that led to the change in outlook include the exposure of earnings and solvency positions to material asset devaluations and ongoing volatility across all asset classes driven by the coronavirus (COVID-19) pandemic, as well as the sensitivity of Italian life insurers’ balance sheets to changes in credit spreads.

The Best’s Market Segment Report, Market Segment Outlook: Italy Life, cites an expected decline in premium volumes, and an increased risk of bond defaults due to deteriorating...