Originally published by ICMIF.
20 August 2025
The ICMIF Foundation has announced that Belgian cooperative insurer and ICMIF member P&V Group has pledged to donate EUR 50,000 (USD 54,000) per year for the next three years to support the UNDP ICMIF Insurance Innovation Challenge (IIC). With this contribution, P&V Group joins a growing network of members investing in inclusive insurance solutions and the long-term development of mutual protection models in emerging markets.
P&V Group has been a long-standing partner of The ICMIF Foundation and an early supporter of its work to strengthen mutual microinsurance. Through the ICMIF 5-5-5 Mutual Microinsurance initiative, P&V Group provided both financial support and technical expertise, including participation in peer-to-peer exchange missions to countries such as India and Kenya. This new commitment builds on that track record of international cooperation and solidarity within the mutual/cooperative sector.
Now in its current round, the IIC is focused on helping mutual and cooperative insurers in Africa and Asia design, test, and scale affordable insurance solutions that meet the needs of low-income, climate-vulnerable, and underserved populations. The programme supports local innovation, strengthens institutional capacity, and fosters peer learning through its South-to-South Technical Assistance Platform, which connects leading mutuals in the Global South with emerging innovators to share practical experience and co-develop sustainable insurance models.
Commenting on the commitment, Hilde Vernaillen, Chair of the Management Committee at P&V Group, said:
“Cooperatives in the financial sector can play a key role in creating a more cohesive society, fostering economies that benefit the many rather than a few. At P&V Group, we’re proud to support our peers as they build up their skills and resources so they can better serve their communities and grow stronger in the long run. What is really promising about the IIC is the way it is bringing mutuals and cooperatives together — mutuals from different countries learning from one another, sharing what works. It’s not just about offering support; it’s about collaboration and creating solutions that are rooted in local realities but enriched by global experience.”
Since its launch, the IIC has helped mutual insurers across Kenya, Malawi, Sri Lanka and the Philippines cover over 65,000 individuals, while more than 37,000 people have taken part in training and education programmes on microinsurance and financial protection. These efforts respond to a significant global gap: nearly 90% of people in low-income countries still lack insurance cover (Microinsurance Network, 2024), and mutuals in emerging markets account for just 2.7% of insurance market share—compared to over 30% in high-income countries.
P&V Group joins 17 other ICMIF members and partners that have pledged funding to the IIC so far: CAMIC (Canada), Co-operators (Canada), Farm Mutual Re (Canada), Gore Mutual (Canada), HD Mutual (Canada), Nova Mutual (Canada), PEI Mutual (Canada), Portage Mutual (Canada), Stanley Mutual (Canada), Wawanesa (Canada), Unipol S.p.A. (Italy), CARD Inc (Philippines), PPS (South Africa), Folksam (Sweden), OneFamily (UK), Guy Carpenter (USA), and Pennsylvania Lumbermens Mutual (USA).
Together with that of other donors, P&V Group’s support will help expand access to insurance for thousands of families, strengthen the institutional capacity of mutuals, deepen technical assistance, and demonstrate the power of mutual and cooperative solutions to close the protection gap in underserved communities.
About P&V Group
P&V Group is a cooperative Belgian insurance group that provides insurance solutions for individuals, the self-employed, businesses, and institutions. The Group distributes its products and services through independent insurance brokers under the Vivium brand and through a network of exclusive agents under the P&V brand. Legal protection insurance solutions are developed under the independent quality label Arces and are offered via both brokers and agents.
P&V Group is a longstanding member of ICMIF and remains committed to cooperative values and social responsibility. Through its partnership with the ICMIF Foundation, P&V Group has supported global initiatives such as the 5-5-5 Mutual Microinsurance Strategy by contributing both financial support and technical expertise to strengthen mutual and cooperative insurers in emerging markets.