Global Mutual Market Share 2007-2008

This report provides an update of the Mutual Market Share 2006-2007 report which was published and distributed to ICMIF members in 2009. It includes updated market share information for the years 2007-2008.

The sample has also been extended to include data from 70 countries (60 last year), representing 99.5% of the world insurance market according to Swiss Re figures, and providing data about the market share of over 2,750 companies.

The mutual market share at the end of 2008 was 24% showing an increase from 2007 of 1%. Of the largest ten insurance countries, representing 77% of the world market, five of them have over 30% of their markets in mutual and cooperative businesses, namely, USA 30%, Japan 38%, France 39%, Germany 44% and The Netherlands 33%.

The global market share for non-life business was 27% (remaining unchanged from 2007), the global market share for life business was 22% (up from 20% in 2007).

The ICMIF Global 500

The list of the top 500 mutual and cooperative insurers globally has also been updated. This is derived from a sample of 2,750 mutual and cooperative insurers (2,500 in the last edition). The insurers are ranked by premiums, with further analysis between life and non-life business, and shows the fastest growing companies in both. All data is based on 2008 year end business results.

The largest 20 mutual/cooperative insurers include ten from the USA, four from Japan, three from France, and one each from Germany, Spain and the Netherlands, representing a real global spread of the mutual/cooperative insurance sector. The split between life business and non-life business is also well balanced, with seven being predominantly life companies, one mostly non-life, and the rest composites, showing the role of mutuals/cooperatives in all business lines.

The ICMIF Mutual Market Share 2007-2008 and Global 500 reports are available free of charge to members of ICMIF. Non-members wishing to obtain a copy of either report should initially contact Shaun Tarbuck.

A market intelligence report on the size and performance of the global mutual and cooperative insurance industry