Mutual insurers can differentiate through purpose-led strategies, member centricity, value creation and social responsibility says a new report from ICMIF Supporting Member EY.

Following a review of the global mutual insurance market, the EY global insurance mutual market scan reveals what sets mutual and cooperative insurers apart from stock carriers.

EY’s scan found that mutual insurers represent an important and growing sub-segment of the overall insurance market, with some of the most prominent and successful brands in the industry. Mutual insurers, which EY refer to as “mutuals,” are better capitalised than their stock insurer counterparts and grow at marginally higher rates, though they run underwriting losses some years due to their practice of paying dividends to policyholders.