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Some ten months after selecting its key service providers, European cross-border pension plan RESAVER is poised to begin operations in March 2017. A brainchild of the European Commission, RESAVER is a pension plan specially designed for highly mobile researchers working at public and private research institutions and universities, SMEs, and research and technical development companies. It is advised by Aon Hewitt; BlackRock won the initial investment management mandate; and

Aetna International is expanding into the Canadian market to provide tailored coverage for expatriate clients. With the main office in Toronto, Aetna expects to open additional offices throughout 2017 and is actively hiring staff to fill key roles. Carrie Chapman in September 2016 was appointed country manager for Canada, reporting to Richard di Benedetto, president and CEO of Aetna International. The plans offered by Aetna will cover everyone whether

While publication of solvency ratios for the insurance industry is not a requirement, many companies do publish this information as part of their risk appetite and financial targets. The E.U. solvency regime, called Solvency II, also allows countries operating outside the E.U., ‘third country insurers’, to operate and comply with E.U. rules. The chart, compiled by Guy Carpenter, a Marsh & McLennan company, and published in February 2017, shows

Results of the Deloitte Global Chief Procurement Officer Survey 2017 point to reducing costs in the face of global uncertainty as the biggest priority Chief Procurement Officers (CPOs) face. Eighty-four percent of the CPOs surveyed in North America said that managing risks is the second highest priority, indicating that they are taking a cautious approach at a time when risks include weakness and volatility in emerging markets and rising

In response to the urgent call for new vaccines to treat emerging infectious diseases, the World Economic Forum in Davos, Switzerland, established a global coalition in January 2017 that is committed to developing safe and effective vaccines against known infectious disease threats. Buoyed by an initial investment of US$460m from the governments of Germany, Japan, and Norway, plus investments from the Bill and Melinda Gates Foundation and the Wellcome

Humanis, a large French group insurance carrier, since 2013 has published a yearly survey of French expatriates. Here are some key takeaways from the January 2017 edition: French expats like living abroad, and 95% of them would recommend that their friends give expatriation a try. 64% of French expats do not expect to return home in the next five years.   39% of French expats would like to create

The March 31, 2017 imposition of Article 50 has nervous Britons rushing to transfer their final salary pensions into overseas schemes. According to deVere Group, a large independent financial advisory organization, the percentage of inquiries about transferring pensions has risen 21% since the beginning of December. While there has been interest since the Brexit vote in June 2016, the surge to transfer pensions overseas intensified during December and promises

Following the successful conclusion in January 2017 of the bilateral agreement on insurance and reinsurance between the European Union and the U.S., industry body Insurance Europe welcomed the deal, supporting in particular the removal of the discriminatory collateral requirements that E.U. reinsurers were subject to when placing business in the U.S.. This change is expected to support bilateral trade in insurance and reinsurance. However, the National Conference of Insurance

Amsterdam, The Netherlands-based sleep expert Els van der Helm, PhD,  in November 2016 launched her new website, www.elsvanderhelm.com, that includes resources such as videos, brief articles and Els’s academic research. Prior to her own consulting firm, Els worked as a management consultant at McKinsey & Company. There she combined her passion for leadership development and sleep management. She developed and facilitated training programs for both McKinsey consultants and clients.

The European Commission in October 2016 conducted hearings with pension funds, asset managers, insurance undertakings, individuals, consumer associations, and public authorities  to debate the need for a pan-European pension product. The panel debates allowed stakeholders to determine if EU action fostering the emergence of European personal pension products is appropriate as well as proportionate. At stake are simple, affordable, and transparent pension plans that provide better returns. More investment

General Electric (GE) in September 2016 has had its European pension fund approved by FSMA, Belgium’s financial supervisory authority and the regulatory body for pension funds. GE is encouraging its existing European-based pension plans to join the fund, which takes the legal form of an Organisme de Financement de Pensions (OFP), Belgium’s IORP-compliant vehicle for pensions provisions. At this early stage, a management committee has been appointed. An IORP

Auto manufacturer BMW in September 2016 decided to end both of its UK final salary-defined benefit (DB) pension plans. Both plans will cease future accrual as of June 2017, affecting around 5,000 members total. Citing significant pension fund shortfalls and the cost risks associated with DB plans, BMW explained that their plans are increasingly unsustainable and unaffordable for both the company and the pension plans members. Unite, the union

Tokio Marine Life Insurance Singapore (TMLS) and Henner Group in June 2016 announced that they have joined forces to launch an international medical coverage solution for globally mobile employees based in Singapore. Henner is a French firm specialized in employee benefits and one of the largest and best-known TPAs in the international private medical insurance market where it was previously known as GMC. The partnership allows TMLS and Henner