Market InSights reports 2011

The latest research from ICMIF’s Shared Intelligence department shows how the mutual and cooperative sectors in the UK, USA, Canada and Europe have all consistently and significantly outperformed the rest of the insurance market since the global financial crisis of 2007/08.

The Market InSights reports from ICMIF are a series of market-specific reports compiled using the latest data from ICMIF’s Global Mutual Market Share research. The reports include a detailed analysis of the 5-year growth trends of mutual and cooperative insurance companies using financial data from 2007 to 2011.

The first four reports in the series focus on three of the largest global insurance markets; the UK, USA and Canada, as well as a regional market report on Europe. The mutual/cooperative sector in all three individual markets and collectively within the European market demonstrated significant growth in market share since 2007. In the USA, the market share of mutuals increased from 29.5% in 2007 to 34.0% in 2011; driven by a growth in market share by life mutuals.

Premium volumes of UK mutuals have increased by 38% since 2007, as premiums for the total market were 28% lower in 2011. This has resulted in the market share of mutuals almost doubling from 4.3% to 8.2% in 2011. The Canadian mutual market has consistently grown since 2007 (again driven by life mutuals’ growth), with a 2011 market share of 19.5%, up from 16.3% in 2007. European mutuals experienced a 15% growth in premiums between 2007 and 2011, as the total regional market shrank by 8%. Consequently, European mutual market share increased by a quarter, up from 22.6% in 2007 to 28.1% in 2011.

The reports include year-on-year analysis of the premium growth of mutual insurers since 2007, with comparison to the rest of the insurance sector. The reports also include data on growth by business line, asset growth with a definitive list of the largest mutual and cooperative insurers by 2011 premium income within each market.

The Market InSights 2011 reports for the UK, USA, Canada and Europe will be followed by similar region-specific reports on the mutual and cooperative sectors in Latin America and further country-specific reports on the German, Spanish and Nordic markets.

For media enquiries please contact Liz Green, Senior Vice-President, Communications.