Latest News

Tuesday, 07 August 2018

In the absence of clarity as to what a future trade deal will look like between the United Kingdom and the European Union, affected insurers have accelerated their plans to establish new EU subsidiaries, according to a briefing from ICMIF Supporting Member A.M. Best. These subsidiaries will ensure that these insurers are able to underwrite EU business post-March 2019 or after any formally agreed transition period. Small insurers that do not have the resources to create additional companies are forming relationships with local carriers that can front business for them in the EU according to the briefing.

The Best’s Briefing, “...

Friday, 03 August 2018

The Argentinian Minister of Finance, Nicolás Dujovne, has presented the Executive Committee that will preside over the G20 Insurance Forum 2018. The Insurance Forum an encounter that will be held within the framework of the G20 on 25-26 September in San Carlos de Bariloche, Patagonia (Argentina). The Forum’s Executive Committee will be chaired by Adrián Werthein, shareholder of Experta ART, who will be accompanied by four Co-Chairman, one of which is Alejandro Simón (pictured), CEO of ICMIF member Sancor Seguros in Argentina. The other three Co-Chairman are José Cardoso, president of IRB (Brazilian Reinsurance Institute); Recaredo Arias,...

Thursday, 02 August 2018

Registration is now open for the 26th ICMIF/Americas Annual Conference which will take place from 19-21 November 2018 in Cartagena (Colombia). The event will be hosted by ICMIF member La Equidad Seguros and is organised by the International Cooperative and Mutual Insurance Federation’s Regional Association for The Americas (ICMIF/Americas).

Delegates who register now for the premier gathering of the cooperative and mutual insurance industry in the Western Hemisphere can save USD 100 with the early-bird discounted registration rate. The early-bird rate is available until 31 August 2018 (see details below...

Thursday, 02 August 2018

An Indian member of International Cooperative and Mutual Insurance Federation’s (ICMIF), The Development of Humane Action (DHAN) Foundation, has successfully been able to provide mutual microinsurance protection to 200,773 previously uninsured people from poor communities in India in the first year of their project under the ICMIF 5-5-5 Mutual Microinsurance Strategy.

The project with the DHAN Foundation first launched in April 2017. Through its partnership with ICMIF, the DHAN Foundation aims to cover an additional 1.07 million people through mutual microinsurance across 152 federations[AG1]  over the next five years.

Tuesday, 31 July 2018

It is with great pleasure that the ICMIF Asia and Oceania Association (AOA) invites its members to attend the AOA Seminar 2018 in Hong Kong. This seminar is for executives, managers, and staff members of AOA member organisations. This year’s seminar will take place on 6 & 7 December in Kowloon, Hong Kong, hosted by ICMIF member Asia Affinity Holdings Limited.

The seminar is held once every two years for the benefit of cooperative and mutual insurers in the Asia and Oceania region. The theme of this year is “Impact of digital innovation on the strategies of our sector”. The influence that the...

Tuesday, 31 July 2018

ICMIF Supporting Member, A.M. Best will hold its annual Reinsurance Market Briefing at the 2018 Rendez-Vous de Septembre in Monte Carlo (Monaco). The briefing will be held at the Hermitage Hotel, Square Beaumarchais, Monte Carlo in the Salle Eiffel II on Sunday 9 September at 10.15 a.m. CEST. All ICMIF members are welcome to attend the briefing.

A.M. Best’s annual Reinsurance Market Briefing at the Rendez-Vous is seen as a leading, open-invitation market presentation event. The briefing is a unique opportunity for ICMIF members who wish to attend to gain reinsurance market insight and opinion ahead of busy bilateral meeting...

Monday, 30 July 2018

With the 2017 losses slowly fading in the rear-view mirror, the ILS market is roaring forward through the first half of 2018. Cat bond issuance is at or near record levels, and non-life ILS assets under management (AUM) continue to grow. Where might the road lead? asks the latest Willis Towers Watson and Willis Re  ILS Market Update report.

Drivers of change

Before getting to some possible answers, the report looks at what is driving the market’s continued success. The first obvious answer, according to the report, is that ceding insurers and reinsurers want to have more risk transfer options at a better cost, and ILS...

Monday, 30 July 2018

Between 25 May and 14 June 2018, hailstorms and heavy rain raged across large areas of France and caused a great deal of damage. These challenging weather events were notable for a number of reasons. Their duration, the extent of the geographical area affected and the extensive range of damage that they caused.

At the beginning of July, insurers in France had recorded 214,000 claims, with an estimated cost of EUR 430 million*.

According to the French Insurance Federation, the claims arose from damage caused by the hail and the rain to homes, vehicles and business assets. The nature of the damage was very varied: floods,...

Thursday, 26 July 2018

“Orange Health” is a new health and fitness programme developed by ICMIF member NTUC income (Income) in Singapore. The programme is designed to help Income’s members increase their awareness of their wellness holistically. Developed by Income, Orange Health, which is housed in the Income Insurance app, empowers members who are covered by an IncomeShield policy to record their lifestyle in four areas – sleep, steps, diet and workout – and to be rewarded for proactively keeping healthy and active.

A holistic approach to health – even rewarding those who record sufficient sleep

According to the World...

Wednesday, 25 July 2018

Bas Lavalaye of Achmea, a Netherlands-based member of the International Cooperative and Mutual Insurance Federation (ICMIF), took part in a Technical Assistance assignment for the Development of Humane Action (DHAN) Foundation (India) through the ICMIF 5-5-5 Mutual Microinsurance Strategy earlier this year. In a new video from the ICMIF Communications Team, Bas has spoken about his time in India and how he found it to be a particularly enriching experience.

Bas, a Finance and Control Manager, visited DHAN Foundation’s offices in Madurai (India) for two weeks in April 2018 to conduct the assignment. The purpose of Bas’s trip was to...