Recognition for the mutual insurance model: ICMIF’s Global Manifesto is a rallying call for action

Manchester, UK, 1 March 2016: The launch at the end of 2015 of ICMIF’s first Global Manifesto Protecting Lives and Livelihoods marked a major step forward in ICMIF’s coordinated campaign to get the cooperative and mutual insurance model understood and supported worldwide.

“The Manifesto calls for a formal recognition of the value that mutual and cooperative insurers add to the global economy and society. It calls for action to translate this recognition into meaningful improvements to regulatory, legal and business support structure both globally and at the level of national governments,” says ICMIF CEO Shaun Tarbuck.

“The insurance sector is one of the largest industries in the world and very significant sector in terms of growth, jobs and investment,” Tarbuck continued. “The mutual and cooperative insurance sector represents 27% of the total insurance market with 40% market share in countries such as Japan, France and Germany. Our members have made a serious and wholehearted commitment to protecting lives and livelihoods around the world.”

Tarbuck added: “The mutual and cooperative sector represented 27% of the global insurance market in 2014, writing USD 1.3 trillion in insurance premiums. Our data shows that, year on year, the mutual and cooperative model has been the fastest-growing part of the global insurance market since 2007, with a 30% growth in premium income during this period,” concluded Tarbuck.

Tarbuck described the Manifesto as a key building block in creating effective dialogue between the mutual insurance sector and policymakers, politicians, commentators and regulators. “The Manifesto sets out to prove that the mutual and cooperative insurance sector can offer solutions to the very real economic and social challenges being faced by people all over the world,” he says.

The core content of the Manifesto is a series of eight firm proposals in which ICMIF calls on global, regional and national authorities to ensure an appropriate business environment for cooperative and mutual insurance and for them to engage with cooperative and mutual insurers to help protect lives and livelihoods.

The Global Manifesto from ICMIF calls for:

  • A policy commitment to diverse corporate ownership from all relevant authorities
  • A legislative framework that facilitates free and fair competition and aims to reach best global standards
  • Regulation that is sensitive to the ownership structure of mutuals and cooperatives, their different corporate purpose and that is proportionate to the need to protect consumers
  • A machinery of government that is sufficiently skilled to understand the different objectives of cooperatives and mutuals and is able to produce policy that reflect this.
  • Developing new opportunities for investment in infrastructure by helping mutuals and cooperatives to release some of the USD 8 trillion of their members’ funds for this purpose
  • Facilitating economic development by increasing access to quality insurance to all and especially to those who are excluded
  • Safeguarding societies against natural disasters and environmental change through the development of the Smart Risk investing initiative
  • Helping to deliver the UN’s Sustainable Development Goals by creating growth, jobs and a fairer society through wider ownership


ICMIF Senior Vice-President, Membership Services, Liz Green (pictured launching the Manifesto at the ICMIF Biennial Conference) says that the Manifesto is a long-term document, which should act as a rallying call for the mutual insurance sector.  “The Manifesto was designed to be used and, if necessary, adapted to assist member organizations in their own national lobbying and advocacy work,” she said. “Now is the time for everyone to unite, to put our model forward. Now it’s over to our members to act locally,” added Green.

“This is the first policy manifesto produced by ICMIF, one of the steps that we are taking on behalf of the sector to give a global voice to the mutual and cooperative insurance industry worldwide,” said Shaun Tarbuck.

The Global Manifesto can be downloaded from the ICMIF website.



For more information or to arrange interviews, please contact:

Liz Green, Senior Vice-President, Membership Services, ICMIF, +44 7793 264 220

Alison Grant, Communications Manager, ICMIF +44 161 952 5078

About the mutual and cooperative insurance sector

  • The mutual sector holds 27% of global insurance market share by premium.
  • Premium growth of the insurance sector since 2007 is 30% vs 13.6% in industry
  • The sector’s assets of USD 8 trillion have grown by 37% since 2007
  • Employment in the sector accounts for more than 1.1 million jobs
  • Over 950 million people are served as member/policyholders by mutual/cooperative insurers

About ICMIF (see and follow us on Twitter: @ICMIF_Web)

  • ICMIF holds five years’ worth of exclusive data about the mutual sector
  • With its global headquarters in the United Kingdom and regional offices in Washington DC, USA; Tokyo, Japan and Brussels, Belgium, today ICMIF represents over 230 values-based insurers in 70+ countries with over USD 250 billion premium income.
  • 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 and Takaful sectors, with Takaful providing Shariah-compliant risk amelioration products to Islamic markets