Latest ICMIF Global 500 report published: The world’s 500 largest mutual and cooperative insurers
The International Cooperative and Mutual Insurance Federation (ICMIF) has once again published its definitive annual list of the world’s largest mutual and cooperative insurance companies, the Global 500 report, now updated to include 2012 year end data.
The Global 500 report, now in its sixth year, features the largest 500 mutual and cooperative insurers ranked by 2012 premium income, from a sample of over 3,300 insurance companies in 75 countries.
Collectively, the world’s largest mutual and cooperative insurers wrote just under USD 1.2 trillion in insurance premiums in 2012, representing 98% of the total global mutual and cooperative insurance market. Aggregate premium growth of these insurers accelerated in 2012, with a 4.5% increase in premium volumes from the previous year (2011: +3.1%) with 374 out of the largest 500 companies (or 75%) reporting positive premium growth in 2012. A record number of ICMIF members (77) are included among the 500 largest mutual and cooperative insurers around the world.
The Global 500 report from ICMIF follows the Federation’s Global Mutual Market Share 2012 report which was published in April 2014. The Global Mutual Market Share 2012 report shows that since the onset of the financial crisis, mutual and cooperative insurers have been the fastest-growing part of the global insurance market, as their premium income grew by 27% between 2007 and 2012, whilst the total insurance market only increased by 11.8% during the same period. As a result, the global market share of the mutual/cooperative sector grew from 23.4% in 2007 to 26.7% in 2012, a proportional increase of 14%.
The 2012 edition of the Global 500 report is an ICMIF member-only report and is available for members to download from the Federation’s website (www.icmif.org/knowledge).
Please note that the report will initially be released in English. Spanish and French versions will follow when available (please check the downloads section on this page for availability of the three languages).