ICMIF, the Federation representing the global mutual and cooperative insurance industry today announced the addition of a new Supporting Member which specialises in international insurance and reinsurance law, Goldberg Segalla.
ICMIF Chief Executive, Shaun Tarbuck said: “ICMIF has welcomed Goldberg Segalla into its membership in a bid to provide our 230 member organizations with a source of international insurance and reinsurance legal expertise. Goldberg Segalla is one of the leading firms serving the international insurance and reinsurance community. On behalf of our Board and our members, I am delighted to welcome Goldberg Segalla to ICMIF. Our Supporting Members are valued contributors to the Federation, supplying advice and expertise to our members with a specific mutual or cooperative focus.”
At a global level, the mutual and cooperative sector 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 grew 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. Over 915 million people are served by mutual and cooperative insurers around the world (based on the year-end 2013 figures from the latest ICMIF Global Mutual Market Share research).