Co-operative and mutual insurers are more likely to have women in leadership positions than other organisations within the sector. A new report by the International Cooperative and Mutual Insurance Federation (ICMIF) showed that nine of the largest 100 co-operative and mutual insurers in the world have women chief executives, as opposed to only one of the top 100 stock company insurers led by women.
Some regions also feature higher percentages of female chief executives in the co-operative and mutual sector compared to the average. For example, 27% of chief executives of mutual and co-operative insurers in Canada are women.
Liz Green, ICMIF’s senior vice-president, commented: “Five of the nine largest co-operative and mutual insurers globally that have a female chief executive are members of ICMIF and in total 14% of our member organisations are led by women. It is also very interesting to note that 70% of these female-led member companies have outperformed their local market over the last five years.”
Co-operative and mutual insurers have witnessed a 30% growth in premium income since 2007, compared to a 13.6% increase for the global insurance market as a whole. Find out more from ICMIF’s report.
Photo: female chief executives in the co-operative and mutual insurance sector