Capricorn Mutual, the risk protection mutual established for Capricorn Society Members, Australasia’s largest automotive cooperative, continues to grow. Capricorn Mutual has become one of the world’s top ten fastest growing mutual organisations according to the International Cooperative and Mutual Insurance Federation (ICMIF).
Along with this leading global organisation’s top ten global ranking, Capricorn Mutual has also become the number one fastest growing mutual organisation in Australia according to the ICMIF.
This is the first time that Capricorn Mutual has featured in this annual and highly respected ICMIF Member Statistics Report. This report includes a detailed analysis of the ICMIF’s 197 member organisations based on their location, legal structure, product lines and affinity group.
These accolades reflect the outstanding success of Capricorn Mutual led by Jim Glossat, CEO of Capricorn Risk and actioned by his determined and committed management team.
“It’s no secret that Capricorn Mutual’s success has come from a commitment to looking after our Members and the unique needs of the automotive aftermarket. We are proud to have paid almost $50 million in claims in the past two years and are delighted that this has corresponded with such strong growth that has now been recognised by the ICMIF as the fastest in Australia and top ten in the world.” Glossat said.
“The best thing about our success is that it directly benefits every single one of our Mutual Members, not third party corporate shareholders,” Glossat said.
To properly recognise the importance of this global and domestic rating for Capricorn Mutual it is important to look at the sheer numbers. In 2017, ICMIF Members across the world generated $USD232 billion in premium income, owned over $USD1.7 trillion in investment assets, serviced 300 million policy holders and generated a ten-year growth result of 39.3% which compares to the global market growth average of 16.8%.
To find out how you can join Capricorn Mutual contact Capricorn Risk Services online at www.capricornrisk.com or call: 1800 007 022.