ICMIF - Mutual and cooperative insurers’ share of global industry reaches record high

Mar 23, 2015

The mutual and cooperative 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, according to the latest statistics published by the International Cooperative and Mutual Insurance Federation (ICMIF).

At a global level, mutual and cooperative insurers once again reported record aggregate premium levels in 2013, collectively writing USD 1.26 trillion in insurance premiums. Since the onset of the financial crisis, mutual and cooperative 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 mutual/cooperative sector grew from 23.8% in 2007 to 27.3% in 2013.

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