International Cooperative and Mutual Insurance Federation

Who we are

A Local Reach for Global Strength

ICMIF/Americas is the Americas' regional association of the International Cooperative and Mutual Insurance Federation (ICMIF). ICMIF represents insurance companies that use mutuality or a people-based business strategy that incorporates the principles of member ownership, democratic governance and the practice of cooperative and mutual values (such as solidarity, equality and social responsibility).

With its global headquarters in the United Kingdom and regional offices in Washington, DC, Tokyo, Japan and Brussels, Belgium, today ICMIF represents 230"people-centered insurers" in 69 countries with over $250 billion in premium income. In the Americas region, ICMIF/Americas represents 67 cooperative and mutual insurers in 20 countries throughout North, Central and South America and the Caribbean with over US$24.6 billion in premium income. Collectively ICMIF members in the Americas region represent over 1,500 mutual and cooperative insurers.

Inter-American Trade Association

ICMIF's mission is to contribute to the growth of the cooperative and mutual insurance market through promoting mutuality, providing high value-added services to members and creating new business opportunities. At a regional level, ICMIF/Americas organizes an annual regional conference as well as periodic seminars and workshops. These events provide opportunities for executives, managers and board leaders of member companies to share ideas and experiences to better equip themselves to provide modern and competitive insurance protection.

ICMIF/Americas is also involved in regional advocacy to ensure that the cooperative and mutual segment of the insurance industry is well represented before insurance regulators and legislators. ICMIF/Americas works with organizations including the Latin American Association of Insurance Supervisors (ASSAL), National Association of Insurance Commissioners (NAIC) and the International Association of Insurance Supervisors (IAIS).

Members in Latin America have organized a Latin American Reinsurance Group (LARG) to pool their reinsurance needs and obtain competitive pricing. A higher volume of premiums generates a greater interest from potential reinsurers, greater capacity in reinsurance contracts, improved growth margin of individual companies and greater retention capacity. Through a broker, North American ICMIF members provide reinsurance to the LARG Group.

Cooperative and Mutual Development Organization

Historically, cooperative and mutual insurers were created to provide affordable access to insurance protections to underserved populations - such as farmers, rural communities, unions, immigrant and religious groups, to name only a few. While today cooperative and mutuals insurers serve people from all walks of life, many members, particularly in emerging economies,continue to focus on underserved populations by providing insurance products designed for their specific needs at a price they can afford (known as microinsurance).

The development function of ICMIF was founded in 1963 to help create new or support nascent insurance organizations as well as strengthen existing cooperative and mutual insurers' capacity to provide affordable and accessible insurance protections to low income persons, microenterprises, and small businesses.

Through ICMIF's Development Network, members engage in annual international development seminars, microinsurance business simulations, member-to-member collaborations, a disaster relief network, information sharing via microinsurance microsites, research, and advocacy for appropriate microinsurance regulation.

ICMIF/Americas also facilitates technical assistance and educational opportunities to new and emerging cooperative and mutual insurers based on the principle of mutual self-help. ICMIF/Americas responds to requests from cooperatives, credit unions, trade unions and other people-based groups throughout the hemisphere that ask for assistance in forming their own insurance agency, department or company. Over the past 30 years, ICMIF/Americas has played a leading role in the creation of eight insurers throughout the Americas.