Latest News

Thursday, 25 November 2010

Mr Yoshinori Yokoi, the new CEO of Zenkyoren, has been formally appointed as the new Chairman of the Asia and Oceania Association and will finish off the term of the previous holder Mr Imao who left the post earlier this year. The Asia and Oceania Association is a regional subsidiary of ICMIF and represents the interests of its members in the area. Mr Yokoi was formally approved at the recent ICMIF Board of Directors meeting in Singapore this October and will take on the new role immediately.

Another significant appointment has recently taken place in Europe with Klaus Niederlander being appointed the head of Cooperatives Europe....

Wednesday, 24 November 2010

The American Association of Cooperatives/ Mutual Insurance Societies (AACMIS) and ICMIF have recently held a joint webinar on Enterprise Risk management. The webinar which was held in partnership with Guy Carpenter discussed key strategic issues for businesses in the Insurance sector and how to best manage risk within the context of the changing economic and regulatory environment.

There were a total of twenty six people who signed up for the online seminar and the feedback suggests that it was well received by the participants. Joan Lamm-Tennant the Global Chief Economist for Guy Carpenter began the webinar with a very informative...

Thursday, 18 November 2010

Spanish member Seguros Lagun Aro has received an award for having the best customer service in the Spanish Insurance industry. The prestigious award was handed out by the Spanish Association of Experts in Customer Contact Centers (AEECCC) and recognises outstanding customer service in the Spanish insurance industry. In such a highly competitive industry Seguros Lagun Aro's reputation for excellent customer service is a great differentiator that puts them ahead of other industry rivals.

Seguros Lagun Aro have also recently received recognition for their online presence after being named in the top twenty in the industry. They have...

Tuesday, 16 November 2010

Eduardo Sangermano the General Manager of ICMIF member San Cristobal has been appointed as the new president of the Ordinary General Assembly of Argentinean Insurers (ADIRA). He will take over from Alberto Grimaldi who has held the post for the past two years and is also the General Manager of La Segunda.

ADIRA is an organisation for Argentinean insurers and ICMIF members are well represented within it. The two most recent Presidents have now come from ICMIF members which reflects their strong involvement in the countries' insurance sector.

In his final speech at the ADIRA conference this October Alberto Grimaldi spoke of...

Thursday, 11 November 2010

Quebec based insurer Desjardins General Insurance are leading the way for aspiring green organisations by offering a discount on insurance policies for drivers of low emission cars. Desjardins have set out criteria for vehicle emissions which are based on the Fuel consumption guide published by National Resources Canada and if customers meet these requirements they could earn savings of up to 10% on their premiums.

The discount is being offered to all new customers with fuel efficient vehicles and has also been automatically given to existing policy holders who fit the same criteria. There will also be a further discount for hybrid...

Wednesday, 03 November 2010

In a feature length article in Insurance Day ICMIF member Ecclesiastical have been highlighted as one of the top ten corporate donors in the UK. This is a remarkable achievement for an organisation of such moderate size as it ranks above so many of the UK's largest companies.

Ecclesiastical CEO Michael Tripp attributes the organisations strong belief in Corporate Social Responsibility to the organisations long history of charitable giving which is now embedded in its culture. Ecclesiastical is different from many organisations in the fact that it is owned by a charity called Allchurches Trust. This further engrains the belief in...

Monday, 25 October 2010

Philippine based ICMIF member CLIMBS has unveiled a new micro insurance product aimed at protecting the loan portfolio of cooperatives against extreme weather events. CLIMBS insures cooperatives in the Philippines and offers portfolio protection but the new product will add to the range of cover that is offered to customers.

Organisations in the Philippines have proven to be real innovators in micro insurance and this is the latest example of a cooperative insurer looking after the best interests of their customers. The new product is designed so that customers will receive a percentage of their loan portfolio if the weather...

Thursday, 21 October 2010

The approach of Solvency II in the European Union is making mutual insurers take a closer look at their capital requirements in order to comply with the upcoming regulation.

Mutuals in the Scandinavian countries, where mutual market share has traditionally been strong, are keen to maintain their existing good position and so compliance with the new laws has been a major strategic consideration.

Gunnar Andersson is the executive Vice President for strategic business development at Swedish mutual and ICMIF member Folksam and has highlighted some potential consideration in a recent interview. He said that the changes to the...

Friday, 15 October 2010

Insurance companies in New Zealand have faced a raft of challenges in the wake of the strong earthquake that rocked Christchurch around a month ago and two mutual insurers have responded admirably by helping to reduce the hassle for their customers.

ICMIF member and mutual insurer FMG have decided to waive their customer excess for all earthquake claims. CEO of FMG Chris Black said "In recognition of the toll that the earthquake is taking on our customers, we are waiving the excess on their policies when they make earthquake-related claims. We want to take as much hassle out of the process as possible." Mr Black has been visiting...

Wednesday, 13 October 2010

French ICMIF member MACIF has set up a life and health joint venture in Algeria with three other local organisations. MACIF will own a 41% share while the rest will be controlled by the three local state owned entities which include the Algerian Insurance Company (SAA), the Bank for Local Development and the Agriculture and Rural Development Bank. MACIF and SAA have had a partnership in place since 2008 and the joint venture that they have now formed has been a long running objective of this original deal.