PRESS RELEASE

EY joins the International Cooperative and Mutual Insurance Federation (ICMIF)

Manchester, UK, 21 April 2021 – The International Cooperative and Mutual Insurance Federation (ICMIF) is pleased to announce that EY has become a Supporting Member of the Federation, the global representative body for the cooperative and mutual insurance industry.

EY will become a ‘Supporting Member,’ joining a group of seven other companies from around the world. ICMIF Supporting Members are suppliers considered important to the insurance sector. They work in partnership with the Federation and its members in helping to grow and advance the mutual and cooperative insurance sector.

In this new partnership, ICMIF members can leverage EY knowledge, expertise and support in areas ranging from digital transformation and tax services, to transactions and IFRS implementation.

Neil Pengelly, Canadian Insurance Consulting Leader at EY said: “We’re excited to combine our industry experience and expertise with the ICMIF and other Supporting Members to help insurers address their most pressing business challenges. Whether exploring new business models, optimizing customer experiences or addressing shifting workforces, we can work collaboratively to not only overcome issues, but embrace true innovation to improve performance.”

Shaun Tarbuck, Chief Executive, ICMIF said: “On behalf of ICMIF, our Board and our 203 member organisations, I am delighted to welcome EY, one of the world’s leading professional services networks, as a member of the Federation. Having access to EY’s expertise and global network can help ICIMF and our members take meaningful strides in navigating disruption, managing regulatory change and accelerating industry transformation to achieve long-term growth.”

Tarbuck continued: “This new relationship between ICMIF and EY presents an exciting opportunity to bring additional added value to our members around the world. Our Supporting Members are valued contributors to the Federation, supplying advice and expertise with a specific mutual or cooperative focus”.

ENDS

Notes to editors

For more information or photos, please contact Alison Grant, Communications Manager, ICMIF alison@icmif.org

About ICMIF (see www.icmif.org)

With its global headquarters in the United Kingdom and regional associations in the Americas and Japan, ICMIF represents 203 values-based insurers in 63 countries. The mutual/cooperative represents 27% of the global insurance market by premiums and was the fastest-growing part of the global market in the 10-year period following the onset of the global financial crisis (Source: ICMIF Global Mutual Market Share 10)

ICMIF delivers unique networking opportunities, market and member intelligence and external relations services. It takes a strong lead in encouraging best practice amongst its member firms in key insurance issues, including: performance management, legal and governance, marketing, brand and reputation, reinsurance and social and environmental performance.

ICMIF is active in the microinsurance sector and, in particular, the ICMIF 5-5-5 Mutual Microinsurance Strategy. The 5-5-5 Strategy is a project based in five emerging market countries which aims to provide five million households with insurance cover for the first time to take them out of poverty and build resilience in poor communities.

 

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