AMICE President Grzegorz Buczkowski, said in a release: “Europeans are increasingly recognizing and placing a heightened value on the mutual/cooperative insurance approach to managing risk. In addition to the coverage offered, consumers appreciate the focus on values such as sustainability, service, democracy and support to society.” (Credit: Sittinan via Adobe Stock) AMICE President Grzegorz Buczkowski, said in a release: “Europeans are increasingly recognizing and placing a heightened value on the mutual/cooperative insurance approach to managing risk. In addition to the coverage offered, consumers appreciate the focus on values such as sustainability, service, democracy and support to society.” (Credit: Sittinan via Adobe Stock)

Overall, mutual and cooperative insurers made up slightly more than one-third of the total European insurance market in 2020, according to a report from two European insurance trade groups, which noted mutual and cooperative insurers accounted for 29.7% of the market in 2011.

From 2010-2020, mutual/cooperative insurers increased total premium volume by 32%, while non-life premium growth increased by nearly 39%, according to the Association of Mutual Insurers and Insurance Cooperatives in Europe (AMICE). During the period, mutual insurers outperformed the overall market. Since 2010, the European insurance market has seen its total premium volume increase by around 14%, while overall non-life insurance premium volume has grown 27.8%.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected].  

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