The International Cooperative and Mutual Insurance Federation (Icmif) Foundationhas published its 2025 Impact Report, marking a decade of work to expand mutual microinsurance to underserved and low-income communities across the global south.
The year’s results highlight significant growth, strengthened partnerships, and deepening climate mitigation measures, all driven by the Foundation’s mission to build more resilient communities.
The Foundation plays a vital role in strengthening the mutual and co-operative insurance system in the global south and in 2025 issued 3.8 million policies protecting the lives of over 19 million people.
The Foundation’s work directly contributes to the United Nations’ Sustainable Development Goals, the report highlighting how inclusive insurance prevents vulnerable families from falling deeper into poverty and strengthens women-led community institutions.
ICMIF Foundation CEO Sabbir Patel said: “2025 marks ten years since Dr Jaime Aristotle ‘Aris’ Alip, then chair of the Icmif Development Committee, put forward the proposal of scaling up the impact of Icmif’s development activities through the launch of the 5-5-5 Mutual Microinsurance Strategy and the establishment of the ICMIF Foundation.
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“As the first chair of the Foundation, he firmly instilled the belief that co=-operative and mutual microinsurance can reach millions of underserved, low-income people in an impactful and sustainable way.”
In Malawi, a Cooperative Life Assurance Ltd (CIC Insurance Malawi) policy has been providing community-based funeral cover for low-income women and families in the country.
Mexter Ng’oma, chair of Ephangweni Cooperative in Malawi, said: “CIC introduced the Kangachepe funeral expense policy to us, the members of Ephangweni Cooperative. Before this, we faced challenges in bidding farewell to our loved ones and relied on small group contributions to support a grieving member. Now, Kangachepe enables us to have a dignified burial ceremony.”
In Sri Lanka, a Sanasa life insurance product is giving women entrepreneurs the security they need to sustain their livelihoods.
Cinnamon farmer Mangala Muthamali said: “having a policy that fits our monthly income is very important… we are grateful to Sanasa Life Insurance for introducing this policy and for treating people like us well.”
In the Philippines, Microinsurance MBA Association’s policies are helping families avoid debt when they are faced with a death in the family or unexpected bills. Juan Andre Monterosso Morado, a 20 year old from Suriago City who lost his mother, reflected: “My mother was buried knowing that she left us with no debts or problems, knowing that the insurance benefit we paid for was secure.”
Patel added: ‘Our work is very much incomplete, as many more millions are falling into the poverty trap every year due to increasing social protection gaps, economic instability and increasing climate-related events.
“The Foundation will utilise its learning over the last ten years and strive even harder to provide an invaluable protection lifeline for low-]income, underserved communities.”
