Latest News

Monday, 28 May 2012

Engage Mutual has introduced a strategy to be rolled out over the next few years that seeks to ensure the organisation will be even more relevant to its customers and make a genuine difference to people’s lives. Its first execution  - engagewithyou.com, a community website, has just been launched.

Designed around the needs of the 'sandwich' generation that is juggling a frenetic range of priorities in their busy lives – typically supporting their elderly parents and helping their children make a start in life - engagewithyou.com provides information, support and an environment where those who have challenges and experiences in...

Thursday, 24 May 2012

The video presentations and slides from the 2012 Meeting of Reinsurance Officials, held May 2-4 in Paris, France are now available on the conference web site.

We would like to thank all those who joined us, and are delighted to report that initial analysis of feedback suggests that this MORO has surpassed previous events in terms of the quality of agenda and presentations and the business relationships fostered and maintained.

Addressing delegates with his keynote speech, Paddy Jago, President of Willis Re, said: “You (mutuals) are product focused and know your market, but the competition will fight your knowledge with their...

Tuesday, 22 May 2012

More than 60 delegates have now registered to attend our free, ‘closed door’ Solvency II Solutions seminar in London this week on Thursday, May 24. With places filling up fast, ICMIF urges its members to register immediately to avoid disappointment. The delegate list is now available online. Delegates attending are from ICMIF member organisations along with other guests as invited by the ICMIF Supporting Members.

ICMIF’s Supporting Members – Willis Re, PartnerRe, Invesco, Risk Dynamics, A.M. Best and Clyde & Co have collaborated to deliver a unique one day event tailored to the specific Solvency II challenges facing our global...

Monday, 21 May 2012

ICMIF member The Co-operators (Canada) has recently released its eighth annual sustainability report, inviting readers to "Take a Closer Look." The document outlines the organization's progress in 2011 in achieving its economic, social and environmental objectives.

As reported in ICMIF e-news, the organization's sustainability efforts were recognized in 2011 with a #1 ranking on the list of "50 Best Corporate Citizens in Canada" by Corporate Knights, an organization that promotes socially responsible business practices and the advancement of social and environmental sustainability worldwide. The Co-operators was also included among...

Wednesday, 16 May 2012

We are delighted to announce that Peter Skinner, MEP and Rapporteur for the European Parliament for Solvency II and EIOPA and long-time member of the Economic and Monetary Affairs Committee (ECON), will join Jonathan Evans MP, in a lively debate from both a national and European viewpoint on the opportunities and challenges that Solvency II presents during the forthcoming ICMIF Solvency II Solutions seminar on May 24, 2012.

For ICMIF members this is the ideal opportunity to learn about the current state of play for Solvency II implementation and specifically about the issues and benefits for the mutual and cooperative sector during...

Monday, 14 May 2012

The second volume of the Microinsurance Compendium has recently been published by the Microinsurance Innovation Facility (part of the International Labour Organisation - ILO) and the Munich Re Foundation. The latest Compendium examines recent developments and achievements in the microinsurance sector.  This volume brings together current thinking of many leading academics, actuaries, and insurance and development professionals in the microinsurance field.

Since the publication of the first edition of the Compendium in 2006 the microinsurance sector has changed enormously. With almost 500 million people now covered by microinsurance...

Thursday, 10 May 2012

ICMIF Supporting Member, Willis Re, the global insurance broker, has released a report discussing the challenges and opportunities available to mutual insurers through diversification.

The report, subtitled Navigating the Pitfalls in Pursuit of Successful Diversification, examines, through discussion and the use of case studies, how the unique characteristics of mutual insurers mean that some are being encouraged towards diversification by regulators and rating agencies, and considers some of the issues that need to be addressed by mutuals to ensure success in diversifying.

The report explains that regulations introduced in...

Friday, 04 May 2012

During the forthcoming Solvency II Solutions event for ICMIF members, Thursday, May 24, Invesco’s Chief Economist, Dr John Greenwood, will update delegates on his latest Economic Outlook and will expand on this to look at the potential impact on capital markets from Solvency II. This session will explore how these changes may impact the insurance sector, both from a credit and asset allocation perspective. It will also discuss issues and risks from an investment standpoint for the insurance sector as a result of these changes; and how the capital markets may respond. The speakers will give practical examples of how to manage all asset...

Thursday, 03 May 2012

Thrivent Financial for Lutherans is one of most recent organisations to join ICMIF. The organisation has just been recognised for its demonstrated leadership in ethical business practices by being selected as one of the "World's Most Ethical Companies" for 2012 by the Ethisphere Institute. Thrivent Financial was named to the prestigious list as a result of its leadership in promoting ethical business standards as well as for introducing innovative ideas to benefit the public.

"Being named as one of the world's most ethical companies is a great honour for our organisation," said Teresa Rasmussen, Senior Vice President, General...

Monday, 30 April 2012

ICMIF’s current strategy of working closely with key insurance media titles to highlight major issues affecting our members has continued with two more features appearing in a special report on Microinsurance and Mutuals in Insurance Day. Shaun Tarbuck, ICMIF CEO, and Sabbir Patel, CFO, were each asked to contribute an article to the special report.

In Shaun’s article Mutual sector weathers storm better than commercial market he discusses the challenges facing all insurance providers:

the continuing global financial crisis pressure on premiums, increased claims low returns on investments increased regulatory pressure higher...

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