ICMIF

At its recent AGM, South African ICMIF member, AVBOB South Africa, announced exceptional results for the reporting financial year ending 30 June 2024 and a ZAR 13,1 billion cash bonus to be shared with its members. AVBOB Chair, Jannie Venter, described the substantial bonus declaration as a demonstration of the importance of value creation for society, saying: “A shared national commitment to sound economic policy support helps to accelerate and drive sustainable benefit to society. Our shared value model, which fosters inclusivity and innovation, benefits all members and is a testament to the strong foundation of our mutual society.” AVBOB CEO Carl van der Riet said: “AVBOB is pleased to declare this substantial bonus to its members, which affirms our commitment to sharing the Society’s success. Leveraging our mutual status allows us to return value to our members, through our combined insurance and funeral service offerings.” https://lnkd.in/eHQuFmgy #Mutuals #ProfitShare #Members #Mutuality Mabore Sefara

2025 marks the International Year of Cooperatives, a momentous opportunity for us to redefine how cooperatives can be the solution to address global challenges. 🌍💡 We spoke to Mr. Jeroen Douglas, Director General of the International Cooperative Alliance who highlighted the importance of strengthening cooperative identity, leveraging technology, and engaging youth to build a sustainable and inclusive future. “We only move when we cooperate”, he stated. Let’s use #IYC2025 to amplify the cooperative movement's role in tackling climate change, inequality, and more. How will your cooperative contribute to this transformative year? Listen to this insightful interview👇👇👇 #CoopsYear #CoopsBuildABetterWorld Cooperatives Europe | International Cooperative Alliance - Africa | Cooperativas de las Américas | International Health Cooperative Organisation | CICOPA | Co-operative Housing International | ICMIF | ILO Cooperative, Social and Solidarity Economy | United Nations | European Commission | Co-op News

Read how ICMIF member Ecclesiastical Insurance UK has grown its leisure business to account for 20% of its open market new business in just 18 months in this article from Insurance Post.

Thank you to our friends at Co-op News for the opportunity for our new CEO Liz Green to take part in your annual Q&A. This time, looking ahead to the International Year of Cooperatives as well as back on 2024. Liz shares her thoughts on why #IYC2025 offers a unique opportunity to strengthen the cooperative and mutual insurance sector’s global impact. Increased recognition of our sector can drive sustainable development and foster strategic alliances and improved regulatory frameworks. For this, ICMIF and its members aim to raise awareness about the value of the cooperative and mutual model in solving societal challenges. #Insurance #Cooperatives #Coops #Mutuals #ConnectingMutualsGlobally #OnlyAtICMIF

Last month, Canadian ICMIF member Beneva marked National Philanthropy Day with the announcement that it is investing an additional CAD 1.5 million in support of its corporate cause: anxiety prevention. This financial support will enable the charitable organisations Beneva champions to create and implement projects that will make it easier for Canadians to get treatment for anxiety. Most recently, Beneva says it partnered with the Université de Montréal on a research project called Beneva Fund – AI-Guided Digital Exposure Therapy, which aims to develop a new treatment for anxiety. “Our work with the Université de Montréal is a major milestone in the offering of innovative mental health solutions. Our commitment to the community allows us to build sustainable relationships with local charities. We are proud to contribute to the implementation of solutions to prevent anxiety, one concrete step at a time,” said Martin Robert, CRHA, Executive Vice-President and Leader of Talent, Culture and Communication at Beneva. https://lnkd.in/esgbA2h4 #Beneva #Mutuals #Wellbeing #Anxiety #MentalHealth

ICYMI, in her end of year blog, ICMIF CEO Liz Green reflected on 2024, a year of transformation and connection for the Federation, and the theme of "Collaborating with purpose" which we explored with 375 members delegates at our Biennial Conference in Buenos Aires in November and the three critical themes of People, Performance and Partnerships. Looking ahead to 2025, Liz shares her optimism for the future and the opportunities for ICMIF and our 200+ members to amplify our collective impact. With 2025 designated by the United Nations as the International Year of Cooperatives, we have a unique chance to raise global awareness of our model and its transformative potential. Liz believes the power of the ICMIF network lies in its global diversity, with member organisations spanning 54 countries and ICMIF will continue to be a catalyst for meaningful connections and knowledge exchange among our members in 2025 through a diverse programme of events (in-person and virtual) designed to facilitate collaboration and strategic growth. Read the blog to learn more: https://lnkd.in/g-q7GBu6 #ConnectingMutualsGlobally #OnlyAtICMIF #CollaboratingWithPurpose #Mutuals #Mutuality #Cooperatives #IYC2025

New ICMIF member Cirencester Friendly Society Limited has announced it has been approved to be a signatory of the Protection Distributors Group (PDG) Claims Charter which aims to improve claims outcomes in the UK. The PDG has confirmed that Cirencester Friendly are now able to become a signatory to the Claims Charter, becoming the eighth UK insurer to meet the criteria. Robert Higgins Cert CII, Senior Claims Manager at Cirencester Friendly said: “We are delighted to have met the criteria of the Protection Distributors Group Claims Charter. 2024 saw a significant transformation for our claims function and processes and this stamp of approval shows we are on the right path. We know when claimants contact us, they are likely to be worried, in pain and possibly distressed, our Claims Consultants are supportive and explain the claims process in an easy and understandable way. We remain committed to improving the claims experience and delivering the best outcomes for our Members and their families.” https://lnkd.in/eFyHrXxP #IncomeProtection #Mutual #Mutuality #MemberOwned Rebecca Hill Andrew Morris Elissa Dennis

Sixty-one per cent of ICMIF members exceeded their local market’s annual growth in the last financial year The latest "ICMIF Members: Key Statistics" report from the International Cooperative and Mutual Insurance Federation (ICMIF) shows 61% of the ICMIF membership exceeded their local market’s annual growth-rate between 2022 and 2023, compared to 59% between 2021 and 2022. Key findings:  - USD 228 billion in premium income  - USD 1.63 trillion in total assets, of which USD 1.34 trillion is held in investments - Over 219,400 people employed by member organisations  - 316 million members/policyholders served The report provides both financial and non-financial analyses of the 208 members that make up ICMIF today, looking at types of insurance offered (including specific product lines), total premiums written, assets held, and more. Liz Green, Chief Executive, ICMIF, said: “I am delighted once again by the findings from the latest "ICMIF Members: Key Statistics" report, which aggregates the performance of our growing ICMIF membership. Once again, well over half our members outperformed the annual growth of their respective national markets. “The continued success of the mutual and cooperative model supports sustainable and inclusive economic development, promotes social cohesion and community development by encouraging member participation in decision-making, with ICMIF members providing employment opportunities for 219,400 people worldwide in 2023.” https://lnkd.in/evC4gwaS #OnlyatICMIF #ConnectingMutualsGlobally #ConnectCurateCultivate #LeadingwithPurpose #mutual #mutuality #insurance #cooperative #cooperativeidentity #mutualdifference #purpose #leadership

Danish ICMIF member Sygeforsikringen "danmark" has announced it is providing DKK 100 million via Sundhedsdonationer to 31 projects in the field of health research, information and prevention. In selecting the projects, the Board attached importance to the fact that the initiatives improve the future health in Denmark for the individual member, their relatives and the Danish population in general. Among the applications received, the board decided to donate money to projects that deal with everything from children's and young people's mental health, concussion, food safety, high metabolism, childbirth and breast cancer to brain injury, antibiotic resistance and chronic intestinal inflammation this year. Congratulations to all the donation recipients.

Swedish ICMIF member Folksam has announced an investment of SEK 3 billion (USD 274 million) in the Growth Markets Fund II of Danish fund manager Copenhagen Infrastructure Partners (CIP). The fund invests in the energy transition in the form of onshore and offshore wind power assets, solar farms and energy storage in high-growth, middle-income countries. The Fund is expected to add 10 GW of green energy to the electricity grids and reduce over 10 million tonnes of carbon dioxide emissions per year. Rebecka Elkert, Head of Alternative Investments at the Folksam Group said: “The Fund specialises in successfully developing large-scale renewable energy projects and in this fund focuses on emerging economies such as Chile and Vietnam, countries that are currently largely dependent on fossil fuel imports in their energy supply. This type of investment gives these economies cheaper energy sources, greater independence in energy supply, and every Krona invested makes almost three times more difference in reduced carbon dioxide emissions compared to if the investment had been made in more developed markets. The investment diversifies the portfolio and helps to increase the expected return.” https://lnkd.in/g7ndWRiv #ClimateChange #Sustainability #SustainableInvestment #ResponsibleInvestment #EnergyTransition #CarbonReduction