The second International Co-operative Alliance’s Summit of the Americas took place recently (May 28 to June 1) in Panama City, Panama, in celebration of the International Year of Co-operatives. The theme of the summit was ‘Sustainable Development with Social Equity in the Co-operative Model’ and it had almost 1,000 international and local participants.
The event was opened by ICA President, Dame Pauline Green, with a speech about social equity, sustainable development and good governance. She said the Summit was a great opportunity to send the message of the global cooperative movement to a wider audience: “As a global movement we have to convince those leaders of all nations who understand the value of the cooperative economy, to help us incorporate this key message in their agendas. Our values define our identity.
“For two centuries our values have served to reduce conflict, build social cohesion, giving people skills and experience, develop local leadership and support women in their economic activity and leadership in their communities. Cooperatives have lifted millions out of poverty with dignity, allowing them to build their own business and giving it a future…”
During the weeks leading up to the event ICMIF/Americas and ICA-Americas worked together, along with several of ICMIF’s members in the Americas, to organize a one day cooperative insurance event during the conference. The event was entitled the “III Encuentro de Seguros” (III Meeting of Insurance) and took place on Tuesday, May 29.
ICMIF member companies involved in the event were:
- Seguros FEDPA (Panama)
- Sancor Seguros (Argentina)
- La Segunda (Argentina)
- La Equidad (Colombia)
- Seguros Futuro (El Salvador)
- Coopseguros del Ecuador (Ecuador)
- Panal Seguros (Paraguay)
Attendees discussed the various regulatory organizations in the region and learnt about the differences that exist in insurance and cooperative laws in different countries. The global trends of regulation were analyzed; including presentations on the implications of Solvency II on the European Union and the United States of America.
It was also noted that the International Year of Cooperatives, as declared by the United Nations, is the ideal time for cooperatives and mutual insurers to review and strengthen the relationship with both governments and regulators in member countries.
One of the outcomes of the event was a joint declaration by all organisations there to work together to promote and integrate the sector in the Americas.