Members of the International Cooperative and Mutual Insurance Federation (ICMIF) achieved an aggregated growth rate of 39.3% over the last ten years, according to a report by the organisation, outpacing global re/insurance market growth by 22.5 percentage points.
The ICMIF’s Key Statistics report 2018 found that the 197 member organisations that make up its global network of cooperative and mutual re/insurance companies grew significantly faster than both the global insurance market and the total cooperative and mutual insurance market since 2007.
ICMIF members wrote an aggregate of $232 billion in insurance premiums in 2017, of which 46% ($106 billion) was in life insurance and 54% ($126 billion) was in non-life insurance.
Companies belonging to the Federation also reported $1.7 trillion in total assets in 2017 and served approximately 300 million policyholders via a total of 220,000 employees.
ICMIF is a global representative body for the cooperative and mutual re/insurance sector and is owned and governed by its member organisations.
