ABOUT AAC/MIS

AAC/MIS Board of Trustees meeting, Washington, DC, USA

A Local Reach for Global Strength: Supporting the cooperative and mutual insurance movement, AAC/MIS is the Americas' regional association of the International Cooperative and Mutual Insurance Federation (ICMIF). Together with regional associations in Europe, Africa, and Asia, the ICMIF network represents 206 people-based insurers in 72 countries. AAC/MIS represents 63 cooperative and mutual insurance organizations in 20 countries throughout North, Central and South America and the Caribbean. Colletively AAC/MIS members represent over 350 insurers with over US$101 billion in assets and US$45.8 billion in premium income.

Inter-American Trade Association

As a not for profit, international trade association, AAC/MIS fosters the professional development of member companies through an international annual conference as well as seminars and workshops. These meetings provide opportunities for executives, managers and board leaders of member companies to share ideas and experiences to better equip themselves to provide modern and competitive insurance protection. AAC/MIS also is involved in international advocacy to ensure that the cooperative and mutual segment of the insurance industry is well represented before insurance regulators and legislators. AAC/MIS cooperates with international organizations including the Latin American Association of Insurance Supervisors (ASSAL) and International Association of Insurance Supervisors (IAIS), among others.

AAC/MIS offers technical assistance and educational opportunities to new and emerging cooperative and mutual insurers based on the principle of mutual self-help. AAC/MIS responds to requests from cooperatives, credit unions, trade unions and other people-based groups throughout the hemisphere that ask for assistance in forming their own insurance agency, department or company. Over the past 30 years, AAC/MIS has played a leading role in the creation of eight insurers throughout the Americas.

International Cooperative Development Organization

As an international cooperative development organization, a major focus of AAC/MIS is to help people-based insurance organizations reach and serve populations who currently have no access to affordable insurance protections. Historically, cooperative and mutual insurers were created to provide affordable access to insurance protections to underserved populations. In both developed and developing countries, people who are most in need of insurance are those least able to afford it.

Originally formed by credit unions, cooperatives, associations, mutual organizations and farmers groups to serve populations without access to insurance protections, today AAC/MIS member companies in developing countries are a sustainable and highly effective way to develop appropriate and affordable insurance products to reduce the personal and business risks of low-income rural/urban households and microenterprises. In terms of number of persons insured, AAC/MIS member insurers in developing countries are often the largest life insurers in their country. They excel in collecting small premiums from large numbers of people – making insurance protections both accessible and affordable to low and middle income populations.

Through support from the U.S. Agency for International Development (USAID) Cooperative Development Program, AAC/MIS is working on projects related to insurance and HIV/AIDS in the Dominican Republic, affordable insurance policies for low-income populations in Colombia, and development of a nascent insurance organization in Nicaragua.

The Americas Association of Cooperative/Mutual Insurance Societies
8400 Westpark Drive, Second Floor
McLean, Virginia, 22102-5116 USA
Telephone: +1 703-245-8077
New Fax: +1 703-610-0211
E-mail: info@aacmis.org