ICMIF

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

In his year-end message, David Hynam, CEO of ICMIF member LV= invites members to discover some of the ways in which Team LV= have continued to deliver on their #mutual promise this year.

ICMIF member Shelter Insurance Companies (Shelter) and Guidewire Software have issued a joint announcement confirming Shelter has selected Guidewire InsuranceSuite to power the company’s core business, simplify its IT operations and help deliver additional value to agents, policyholders and employees. The announcement confirmed the selection and implementation of Guidewire as a key component of Shelter’s Monarch business transformation. Shelter says the Monarch transformation will focus on improving and expanding the mutual insurer’s capabilities to enable its continued success in the market. Guidewire PartnerConnect Consulting Global Strategic member PwC will lead the implementation project. Teresa Magruder, Executive Vice President, Shelter said, “Shelter believes using technology and data to re-imagine business processes and workflows is the key to value creation for our agents, employees and customers. Guidewire fits with our Monarch business transformation initiative to highlight our strategic investment in technology and delivery of new business processes and models to keep Shelter in an industry-leading position now and into the future.” https://lnkd.in/eakn9MMN #Insurance #Innovation #DigitalTransformation #Digitalisation #DataDriven #BusinessTransformation #Mutuals #Technology #Data

Today, we had the honour of hosting the Korean delegation from NACUFOK (National Credit Union Federation of Korea) at our headquarters in Brussels thanks to the global network of ICMIF ✨🌍 Along NACUFOK's side, the following representatives participated in the meeting : Mr Younsik Kim, Chairman & President Mr SangBum Kim, Head of Mutual Insurance Bureau Mr Jun Yuop Kim, Head of Mutual Insurance Planning Division Mr YungHyun Park, Head of Human Resources Development Division Mr Jin Youl Park, Executive Assistant Team Manager Ms Jee Yean Kwon, International Affairs Team Manager Along the side of the P&V Group participated : Sophie Misselyn Jens Smids Frédéric Nguyen It was a very informative meeting where both organisations exchanged about each other's strategy and best practices ✍️ Thank you NACUFOK for your very inspiring visit ! 💖 A special thanks to Catherine Hock ICMIF for making this encounter possible 🙏 #PVGROUP #ICMIF #Cooperatives #Mutuality #CreditUnions #Srategy #Belgium #Korea

Delighted that ICMIF was able to contribute to the insightful "Why a just transition matters" Keynote Series as published last week by Gallagher. Insurance has a crucial role in helping facilitate a just transition to #netzero and insurers can help provide the social protection that communities need to participate in a just transition. #Insurance #GreenEconomy #JustTransition #GallagherKeynote