Capricorn Mutual ranked 9th on a list of co-operative and mutual insurers in developed countries

29 November 2018

BCCM member Capricorn Mutual is one of the fastest-growing mutuals globally.

Capricorn Mutual ranked ninth on a list of co-operative and mutual insurers in developed countries, with premium growth of 15.6% in 2017, in a new report published by the International Cooperative and Mutual Insurance Federation (ICMIF).

“The strong growth for mutuals like Capricorn demonstrates that, more than ever, there is an appetite for trusted financial products among Australian consumers and businesses,” says Business Council of Co-operatives and Mutuals CEO, Melina Morrison.

“Mutuals are offering consumers a real choice and making the overall insurance and risk market more competitive.”

Formed in 2003, Capricorn Mutual provides a range of risk products to members of Capricorn Society, who are businesses in the automotive industry.

BCCM members RAC WA and StateCover Mutual, and Lawcover, are also featured among the fastest growing mutuals in the ICMIF report.

ICMIF members have 10-year growth of 39.3% (compared to global market growth of 16.8%).

Read the full ICMIF Member Key Statistics 2018 report.