The ICMIF Foundation
The ICMIF Foundation was established by the International Cooperative and Mutual Insurance Federation (ICMIF), and incorporated in 2015 as a registered charity in England and Wales (No. 1179919) to oversee the governance of the ICMIF 5-5-5 Mutual Microinsurance Strategy. The ICMIF Foundation Board has been responsible for the governance of the 5-5-5 since April 2017.
The International Cooperative and Mutual Insurance Federation (ICMIF) is a not-for-profit trade association established in 1922. With its global headquarters in the United Kingdom and regional offices in Washington DC, USA; Tokyo, Japan; and Brussels, Belgium; today ICMIF represents around 200 "people-centred insurers" in over 75 countries with over USD 300 billion in premium income. Since 2007 the mutual and cooperative model has been the fastest growing part of the global insurance market; maturing from 23.7% to 27.0% in 2015.
ICMIF is the insurance sectoral organisation of the International Co-operative Alliance (the Alliance) which is the apex body of the world cooperative movement, with a membership of over 1 billion people across 96 countries.
ICMIF is also a member of the Insurance Development Forum (IDF) and co-chair of its Microinsurance Working Group. The IDF is a public/private partnership which aims to optimise insurance to build greater resilience and protection for communities that are vulnerable to disasters and their associated economic shocks. The IDF was officially launched by leaders of the United Nations (UN), the World Bank and the insurance industry in 2016.
ICMIF’s work in emerging markets
The ICMIF Development Function was formally established in 1963 and since then ICMIF has facilitated the creation and development of mutual and cooperative insurers in emerging markets through technical and capital support. Individually ICMIF members, be they in developed or developing nations, have been working with underserved and excluded sectors of the world’s population for centuries.
The ICMIF Development Committee
The ICMIF Development Committee has overseen the ICMIF 5-5-5 Mutual Microinsurance Strategy since its inception in 2015 and has been responsible for its governance and implementation up to 2017 when the ICMIF Foundation took over.