Co-op and mutual insurers’ share of industry reaches new heights

26 March 2015

According to the International Cooperative and Mutual Insurance Federation (ICMIF), the co-operative and mutual sector continued to be the fastest-growing part of the global insurance industry since the financial crisis reporting a record high market share in 2013.

Referring to the latest figures from the Federation’s Global Mutual Market Share 2013 report, co-operative and mutual insurers have grown their premium income by 28% between 2007 and 2013, whilst the total insurance market only increased by 11% during the same period. As a result, the global market share of the co-operative/mutual sector grew from 23.8% in 2007 to 27.3% in 2013.

The research by ICMIF features an analysis of the premium income, assets and investments of 5,000 co-operative and mutual insurance companies from 77 countries around the world.