Swiss Re Joins the International Cooperative and Mutual Insurance Federation

SINGAPORE, June 26 -- Swiss Re issued the following news release:

Swiss Re is pleased to announce that it has become a Supporting Member of the International Cooperative and Mutual Insurance Federation (ICMIF), the main umbrella body for the cooperative and mutual insurance industry globally.

In this new partnership Swiss Re will provide ICMIF members with the opportunity to leverage their knowledge, expertise and support to anticipate and manage risks, as well as explore collaboration opportunities to close protection gaps and strengthen societal resilience.

Jayne Plunkett, Swiss Re's CEO Reinsurance Asia, said: "Swiss Re has long-established relationships with our clients in the mutual and cooperative insurance sector, some of which are members of ICMIF. Our aim is to make societies more resilient. The impact is greater when we do this together. We look forward to deepening our relationship with the mutual and cooperative sector through this partnership, leveraging our global expertise to better support ICMIF members in closing the protection gap and serving their customers".

She continued: "We believe that we are able to bring fresh perspectives, knowledge and capital to anticipate and manage risk. We seek to create smarter solutions with our clients. Today, around 75% of insurance risks - from natural catastrophes and climate change, to ageing populations and cybercrime - remain uninsured. We aim to work together to close the protection gap. This partnership brings us closer to ICMIF members where our shared knowledge and expertise will enable the development of more enhanced client-centric products and solutions".

Atsuhiro Dodo, Swiss Re's Head of Japan, said: "We recognize the strong commitment that mutual and cooperative insurers dedicate to their customers - a key value that resonates with our focus on client centricity. We look forward to learning more about the operating culture of the mutual and cooperative sector and understanding their customers' needs and motivations. The end goal is to create better products and services, but that can only happen with a deeper understanding of each other to achieve mutually beneficial outcomes".

Commenting on Swiss Re, ICMIF Chief Executive, Shaun Tarbuck said: "On behalf of ICMIF, our Board of Directors and our 200-member organisations, I am delighted to welcome Swiss Re, one of the world's leading (re)insurance providers, as a member of the Federation. ICMIF has previously contributed to Swiss Re's sigma research into the cooperative/mutual insurance sector, and for many years, we have based the global insurance figures quoted in ICMIF's Global Mutual Market Share report on Swiss Re's research."

Tarbuck continued: "Swiss Re is also a valued reinsurance partner to a number of our members already. This new relationship between ICMIF and Swiss Re presents an exciting opportunity to further develop our partnership and bring additional added value to our members around the world. Our Supporting Members are valued contributors to the Federation, supplying advice and expertise with a specific mutual or cooperative focus".