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Monday, 01 April 2019

According to the latest 1st View renewals report from ICMIF Supporting Member, Willis Re, reinsurers have adopted a rational rating approach at the 1 April 2019 renewal with price increases of up to 25% targeted towards loss-affected contracts and programmes. These rate increases were balanced by flat renewals for loss-free classes and programmes, says the report.

Reinsurance broker Willis Re said that continued high levels of market capitalisation both from traditional reinsurers and Insurance-linked securities (ILS) markets were the key to reinsurers’ rational pricing responses.

The report says that some buyers sought to...

Monday, 25 March 2019

In June 2016, ICMIF launched the 5-5-5 Mutual Microinsurance Strategy (the “5-5-5”) with the ambition of providing access to microinsurance for the first time to 5 million households in five countries in emerging markets (Colombia, India, Kenya, Sri Lanka and the Philippines) in a period of five years.

In 2017, P&V Assurances decided to provide financial support to the project in Kenya through the 5-5-5, and provided additional support (through a 5-5-5 Technical Assistance assignment) which enabled local cooperative insurer, CIC Insurance Group (CIC), to formally launch a livestock...

Friday, 22 March 2019

The Development of Humane Action (DHAN) Foundation is a professional development organisation in India with a mission to “build people and institutions and to enable the poor communities for poverty reduction and self-reliance”. The DHAN Foundation works through a network of self-help groups, focusing on grassroots action, which cluster together to form federations.

Through the 5-5-5 Mutual Microinsurance Strategy (the “5-5-5”), ICMIF is working with the insurance arm of the DHAN Foundation (People Mutuals) to expand their current operations and reach an additional 1 million policyholders with mutual microinsurance solutions over...

Friday, 22 March 2019

Argentinian ICMIF member, Grupo San Cristóbal (The San Cristóbal Group) has this month published its first Sustainability Report, corresponding to the financial year 2017/2018. The report contains information about the economic, environmental and social impacts of the operations of its various business units. In line with international best practice, the preparation of the report was carried out in accordance with Global Reporting Initiative (GRI) Standards.

In order to create the first-ever Grupo San Cristóbal sustainability report, a sustainability team was created. The team included individuals from across the organisation which...

Wednesday, 20 March 2019

Moves to expand the availability of medical and legalized recreational marijuana, coupled with projected future growth, position the industry as an emerging market for insurance carriers, according to a recent report from ICMIF member AM Best. A new Best’s Special Report, titled, “Cannabis: New Opportunities for Insurers, But With Burgeoning Risks,” states that both medical and recreational marijuana are a rapidly growing business, with revenue that rivals popular industries in the United States such as coffee and movie tickets. In 2017, sales of legal marijuana reached USD 8 billion (USD 5 million medical and USD 3 million recreational...

Friday, 15 March 2019

ICMIF Supporting Member CyberScout had two winners in the recent 2019 Cybersecurity Excellence Awards, sponsored by Cybersecurity Insiders. The Cybersecurity Excellence Awards are awarded annually, honouring individuals and companies demonstrating excellence, innovation and leadership in information security. The awards won by CyberScout were:

Gold Winner: Cybersecurity Service Provider of the Year (between 100 to 499 employees)

CyberScout fielded 23,432 breach-related calls in 2018, and 49,884 in total providing 24/7 global assistance to identity theft victims.

Identity theft is a growing concern for consumers....

Friday, 15 March 2019

ICMIF Supporting Member AM Best will soon be welcoming delegates to their France and Germany Insurance Market Briefings. ICMIF members are warmly invited to attend these briefings, participation is free of charge but delegates must register in advance if they wish to attend.

 

 

 

AM Best’s Insurance Market Briefing - France

Tuesday 9 April - 9:30–13:00

Les Salons Hoche 9 Avenue Hoche, 75008 Paris

AM Best will hold its Insurance Market Briefing for France in Paris on 9 April 2019, from 09:30 to 13:00. Leading AM Best analysts will deliver market insights and...

Monday, 11 March 2019

Swedish non-profit organisation We Effect has partnered with ICMIF to highlight the role of microinsurance in gender equality for a side event to be held during the United Nations (UN) Commission on the Status of Women (CSW 2019) on Monday 11 March 2019.

CSW 2019, the world's largest conference on women’s rights and gender equality, takes place at the UN Headquarters in New York (USA) from 11 to 22 March 2019. The priority theme for this year’s event is “social protection systems, access to public services and sustainable infrastructure for gender equality and the empowerment of women and girls.”

The ILO estimates that...

Friday, 08 March 2019

The ICMIF Young Leaders Programme is a unique programme for ICMIF members which takes place during the Federation’s Biennial Conferences. The Programme is designed for young professionals (generally aged 18 to 35) from mutual, cooperative and member-owned insurers who have been identified by their seniors as strong candidates to become future leaders within their organisations. It gives the Young Leaders the chance to attend the full ICMIF Conference at a discounted fee as well as participate in exclusive networking sessions and events which are designed specifically to meet their interests.

The first Young Leaders Programme took...

Friday, 08 March 2019

The theme for this year’s International Women’s Day, #balanceforbetter, is based on the principle that “gender balance is essential for economies and communities to thrive”.

However, with 783 million people living below the international poverty line of USD 1.90/day (according to the United Nations), there are many communities around the world that are not thriving. The distribution of poverty is not balanced either, with 122 women aged 25 to 34, for example, living in extreme poverty for every 100 men of the same age.

Insurance for low-income populations, or “microinsurance”, is an important safety net which can help...

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