USA

Record market share growth for US mutual insurers

The US mutual insurance sector reported a record year in terms of premium volume and market share in 2013, according to the latest research from ICMIF.

US mutual insurers collectively wrote a record USD 459 billion in premium income in 2013, more than a quarter greater than pre-crisis premium volumes (2007: USD 368 billion). In...

Thrivent Financial for Lutherans is one of most recent organisations to join ICMIF. The organisation has just been recognised for its demonstrated leadership in ethical business practices by being selected as one of the "World's Most Ethical Companies" for 2012 by the Ethisphere Institute. Thrivent Financial was named to the prestigious list as a result of its leadership in promoting ethical...

Voice is ICMIF’s quarterly magazine, containing stories and news embracing the sector as well as in-depth interviews with chief executives.

From this issue:

On October 17, 2011, Tan Suee Chieh announced that NTUC Income was going orange. His aim over the next four years is to lead his staff at Singapore based member, NTUC Income, in an ‘Orange Revolution’. The ...

On April 24, 2011, US-based ICMIF member EMC Insurance Companies celebrated 100 years in business, joining an elite group of companies as less than 13% of property and casualty companies in the USA are 100 years or older—and the majority of those are mutual companies.

"We’re proud of our mutual heritage." says Ron Hallenbeck, EMC's Vice President, Reinsurance. "We began as a mutual...

ICMIF's regional association The Americas Association of Cooperatives/Mutual Insurance Societies (AAC/MIS) has changed its name to ICMIF/Americas. In the wake of this year’s Annual Conference held in Cartagena, Colombia, a proposal was made in consultation with the members to change the organisation’s name from the current title AAC/MIS. Following the suggestion the proposal was addressed...

The Government Accountability Office (GAO) in the USA has recognised the value that the cooperative business model can have for the restructuring of government sponsored enterprise's Fannie Mae and Freddie Mac. In a recent report this November the GAO recognised the value that such a restructuring would bring to the American public and recommend that an incorporation of cooperative values be a...

Voice is ICMIF's quarterly magazine, containing stories and news embracing the sector as well as in-depth interviews with chief executives.

From this issue:

The idea for the workshops was born at the ICMIF conference in Toronto last October, where several executives and board members from Capricorn Mutual took part in the strategic decision making workshop that preceded the conference....

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...

This report provides an update of the Mutual Market Share 2005-2006 report which was published and distributed to ICMIF members in June 2009. It includes updated market share information for the years 2006-2007.

Whilst collating the data for 2007, the opportunity has been taken to update the published 2006 data to take account of data made available following its earlier publication....

The mutual market share at the end of 2006 was 23.9% showing a slight decrease from 2005 of 24.7%. Of the largest ten insurance countries, representing 78% of the world market, five of them have over 25% of their markets in mutual and cooperative businesses, namely, Germany 41%, France, 40%, Japan 36%, USA 30% and Spain 29%.

The global market share for non-life business was 28.0% (up...