10 December 2021

AMICE: Mutual insurance to be better recognised in Europe

The Association of Mutual Insurers and Insurance Cooperatives in Europe (AMICE), the voice of the
mutual and cooperative insurance sector in Europe, today welcomes the publication of the European
Commission’s Social Economy Action Plan. Mutual and cooperative insurers are key stakeholders in
Europe’s social economy.
Launched today in Brussels by Executive Vice-President Valdis Dombrovskis and Commissioner Nicolas
Schmit, the action plan proposes a Council recommendation to better adapt policy and legal framework
to the needs of social economy entities, including mutual and cooperative insurers.
In addition, the action plan proposes to raise awareness across the EU of the mutual insurance model,
and address the application of proportionality under the Solvency II 2020 Review, potentially reducing the
administrative burden for mutual insurers.
Sarah Goddard, Secretary General of AMICE, said: “AMICE warmly welcomes this action plan, which will
bring a greater awareness of the mutual insurance model across the EU, and greater consideration of the
diverse legal forms covered by the social economy. Our sector is an important contributor to long-term
sustainability, and is an important actor within the social economy, responsible for about 30% of all
insurance activity in Europe. There are still some EU Member States which do not make a distinction
between mutual insurers and other types of insurance organisations, and therefore are not reflecting the
member/policyholder model. The proposals in this action plan should result in a better reflection of the
mutual structure and enable proportionality to be more appropriately applied. Ultimately, this will benefit
European policyholders.”
AMICE is a member of Social Economy Europe (SEE), which has been advocating for a Social Economy
Action Plan for several years. Europe’s social economy comprises 2.8 million enterprises and
organisations including mutual insurers, and employs 13.6 million people. It contributes 8% of the EU’s
GDP.
The action plan contains many proposals to promote and support the social economy across the EU,
recognising the valuable contribution it makes to the European economy and wider society. It includes
actions to maximise the contribution of the social economy to the European Green Deal, encouraging
digitalisation and new technologies, and boosting social innovation. The European Commission has
produced a video on the social economy that can be viewed here.

AMICE

© AMICE - Association of Mutual Insurers and Insurance Cooperatives in Europe