Willis Towers Watson’s International Pension Plan Survey Report 2019 was released at the end of January, 2020. The annual report summarises the results of their survey, which includes 932 international pension and savings plans (IPPs and ISPs) sponsored by 877 companies. In particular, the survey revealed that Assets Under Management (AUM) rose to €14.6bn (USD 15.8bn) from €13.6bn (USD 14.7bn), with the largest concentration sponsoring IPPs/ISPs from the banking

EIOPA, the EU’s insurance and pensions regulatory body, is urging insurance companies to halt dividends, buybacks and bonuses in the wake of the Covid-19 outbreak. A statement released on 17 March 2020 stated: “Against this background of uncertainty, EIOPA urges that at the current juncture (re)insurers temporarily suspend all discretionary dividend distributions and share buy backs aimed at remunerating shareholders. This suspension should be reviewed as the financial and

Employee Benefits Propositions (EVP) are gaining in importance now that employers are more focused on offering a bespoke employee experience, and the Aon UK Benefits and Trends 2020 Survey shows that although the number of employers who have or are working towards an Employee Value Proposition remain similar (76%), there has been a significant increase in the number of employers who now communicate that EVP to staff. The survey shows

In the interest of fostering a more stable work environment for trans and non-binary workers, Lloyd’s of London in December 2019 published a guide for the insurance sector that helps managers understand how to make trans and non-binary employees feel included in the workplace. The proportion of colleagues who identify as trans or non-binary could rise from about 4% to as high as 20%, as younger people, many of

MAXIS Global Benefits Network announced in January 2020 the appointment of Damian Allepuz Lemmens to the role of Regional Manager, Western Europe. Lemmens is based in Paris, and reports to David Schupak, Regional Director for Western Europe, the Middle East, and Africa. Lemmens leads a team of four employee benefits experts who work with MAXIS GBN’s strategic partners (brokers, consultants, and local member insurers) to develop employee benefits solutions

A team of Israeli scientists in December 2019 announced it had discovered a new treatment that reduces pancreatic cancer cells in mice by up to 90%. The survival rate for pancreatic cancer is fewer than 5 years, and current options for treatment require chemotherapy, which stops cell division in the whole body. This affects the whole body as there is no discriminatory targeting – causing, for example, hair loss,

The size of the global international private medical insurance (iPMI) market will reach an estimated US$17bn (£12.7bn) by the end of 2020, according to iPMI advisers from the McGrigor Group. McGrigor’s research reveals that Cigna in particular is number one in global iPMI, ever since its acquisition of Vanbreda in 2012, and advisers see the big regional winners as Sub Saharan Africa and South-East Asia. They noted that countries

New York Life Insurance and Cigna in December 2019 reached a deal for New York Life to acquire Cigna’s group life and disability insurance business for US$6.3 billion. The acquisition is expected to close in the third quarter of 2020, subject to applicable regulatory approvals and other customary closing conditions. The group life and disability insurance business will operate within New York Life’s portfolio of strategic businesses and support

Aon in January 2020 announced the completion of its acquisition of SMB insurtech broker CoverWallet. Aon aims to increase its presence in the rapidly growing commercial insurance market for smaller businesses. The acquisition will allow Aon to utilise CoverWallet’s technology and data & analytics capabilities. CoverWallet joins the portfolio of Aon’s New Ventures Group, which functions as a growth-stage capability focused on delivering new sources of value to clients

To maintain a “stable corporate structure and capital flexibility” within the European Union, Aon has moved its parent company’s domicile to Ireland, effective April 1, 2020. The New York-listed company had announced its intent to move after the UK’s decision to leave the European Union in October 2019 and was awaiting approval from the Central Bank of Ireland, even though the company would not be a regulated entity. Aon

The French Prudential Supervision and Resolution Authority (ACPR) in January 2020 approved a reinsurance captive in France for payment solutions provider Worldline. The approval marks the first in almost 20 years, and only the fourth reinsurance captive in France. Worldline chose France as a jurisdiction based on the advice of Willis Towers Watson (WTW), which supported Worldline throughout all aspects of the process, from the initial opportunity study to

With the implementation of the EU’s IORP II Directive, Aon in December 2019 announced it would stop offering its United Pensions solution for cross border pension solutions. Aon Retirement and Investment, Netherlands, CEO, Frank Driessen, explained that while existing Dutch United Pension clients will not be affected, there is a great deal of uncertainty and mistrust around cross-border pension transfers. What has been a thorn in the side of

Since the beginning of the 2019-2020 COVID-19 pandemic, a great wealth of information has been made available to the general public as well as to human resources professionals. GBV has no particular expertise in epidemiology, the treatment of people affected by COVID-19, or the socioeconomic impact of the pandemic, and therefore refrains from adding to the noise component of what is now on offer. Nevertheless, the editorial team here

Sean Genden has been named Head of International Insurance at Hartford, Connecticut, USA-based investment and insurance company The Hartford. Prior to this he was with Travelers for 28 years in roles such as International Business Insurance Segment Leader. Previously, he served as Chief Executive Officer, Europe and earlier as Chief Operating Officer for Travelers Europe. In an executive capacity he served as an Executive Board Member of both Travelers

Danilo Lima in February 2019 founded and now leads employee benefits consulting firm 360 Beneficios, located in Sao Paolo, Brazil. 360 Benefícios is an HR Tech firm that focuses on employee benefits integration in Brazil; its software and services simplify selecting, implementing, and managing corporate benefits. Prior to 360 Beneficios, Danilo was a Business Manager with startup acceleration program InovAtiva Brazil and with Aliança Empreendedora (Entrepreneurial Alliance); a Regional

The International Accounting Standards Board (IASB) in December 2019 adopted changes to the IFRS 17 exposure draft supported by the insurance industry, and has decided to delay discussions about extending the new standards’ effective date beyond the current 2022 deadline. IFRS 17, issued in May 2017, is the first truly international accounting standard for insurance contracts. It addresses the many inadequacies of local rules in accounting for such contracts.

Due to the coronavirus / COVID-19 outbreak, the International Employee Benefits Association (IEBA) postponed its 2020 International Conference from March to September, 2020. The event had been slated to take place on March 11-12, 2020 in Brussels, Belgium. IEBA announced on March 5 that the conference will be held on September 22 and 23, 2020. The venue remains the same: The Hotel in Brussels, Belgium.

One year after having announced, then cancelled plans to merge with Willis Towers Watson (WTW), Aon in March 2020 announced an agreement to acquire WTW in what will be the industry’s largest ever merger. The purchase price is $30bn, paid in Aon shares, and the combined firm is valued at around $80b. Regulatory requirements may make a comprehensive takeover of WTW by Aon difficult, given that Aon and WTW

Due to the coronavirus / COVID-19 outbreak, the Captive Insurance Companies Association (CICA) cancelled its 2020 International Conference. The event had been slated to take place on March 8-10, 2020 in California, USA. No new date has been announced at the time of publication.

Aon named Eric Andersen as president of the company in February 2020, reporting to Chief Executive Greg Case. Andersen will continue to be based in New York City. Andersen first joined Aon in 1997 via the acquisition of Minet. Prior to that, Andersen also worked in London at Alexander Howden. He has been in the C-suite since 2010, when he was named CEO for ARS Americas. Andersen was named

The Economist Intelligence Unit (EIU) in February 2020 released its list of the top five risks to the global economy in 2020: The likelihood of at least one of these five possible events occurring in 2020 is … 69%.   The EIU report can be downloaded from this page (contact information required). The company is the research and analysis division of The Economist Group, the sister company to The

The Captive Insurance Companies Association (CICA) 2020 International Conference will take place on March 8-10, 2020, at the Westin Mission Hills Golf Resort and Spa in Rancho Mirage, California. The conference theme in 2020 is “Building on the Best”. The CICA conference explores new uses of captives, how to engage new talent, and outlines best practices. A Professional Development Track provides training for captive and risk management professionals. Conference

The European Association of Paritarian Institutions (AEIP) in February 2020 announced the appointment of Alexandra Kaydzhiyska to the newly created position of Executive Director, based in Brussels, Belgium. Alexandra previously was AEIP’s Permanent Representative and Team Lead, in charge of developing AEIP; leading the Brussels-based team; and relations with European institutions & partners. Earlier in her career, she was Policy Advisor for Financial & Economic Affairs with AEIP; Policy

The European Association of Paritarian Institutions (AEIP) announces the 12th edition of the Transatlantic & World Pension Alliance Conference. The event will take place from 27 to 29 May 2020 in Brussels, Belgium. Moderated by GBV magazine, the conference is organized by AEIP in cooperation with the U.S. National Coordinating Committee for Multiemployer Plans (NCCMP), the Multi-employer Benefit Plan Council of Canada (MEBCO), and the World Pension Alliance, currently

U.S. broker Alliant in February 2020 announced the appointment of Philippe de Dreuzy to head up its global benefits practice as Senior Vice President and Global Practice Leader. He will be based near San Francisco, California. With headquarters in Newport Beach, California, Alliant Insurance Services provides property and casualty, workers’ compensation, employee benefits, underwriting, surety, and financial products and services to clients in the U.S. Over his 25-year career

The International Foundation of Employee Benefit Plans (IFEBP) in May 2020 organizes the first edition of its new CONNECT Global Benefits Summit. A non-profit association, IFEBP has 8,200 organizations and 32,000 individuals as members; 87% are based in the U.S. and 13% in Canada. IFEBP operates out of Brookfield, Wisconsin (USA). The inaugural event is designed for experienced multinational benefit professionals. This dynamic event will feature expert-led sessions and

Global benefits, HR and mobility professionals: Have you registered for IBIS Academy 2020? 48 hours left for early registration pricing! Register today for the IBIS Academy 2020: Intersections. Learn more at ajg.com/ibisacademy or register today http://www.cvent.com/d/ghqnp4 or fill the form below for your Registration Package. . #IBISAcademy2020 #gallagherbetterworks #gallagher   IBIS Academy 2020: Intersections – Registration Package Request