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M&A, Reorganizations and other Corporate News

MAXIS Global Benefits Network (MAXIS GBN) has announced an exciting new initiative in partnership with Maven Clinic, the world’s largest virtual clinic for women’s and family health. On 1 October 2024, MAXIS GBN launched a comprehensive educational toolkit designed to help multinational companies provide essential support to employees experiencing menopause symptoms. The new service, available to MAXIS GBN’s multinational clients, aims to create a menopause-friendly work environment by providing

London, 4 September 2024 – MAXIS Global Benefits Network (MAXIS GBN) proudly announces its latest partnership with Abi Global Health, a leading virtual care platform utilizing AI technology to connect individuals with healthcare professionals in under 40 seconds. This collaboration enables MAXIS GBN’s multinational clients to offer their employees immediate access to healthcare services, including physical and mental health support, via text, phone, or video consultations—anytime, anywhere. Abi’s cutting-edge

Zurich Global Employee Benefits Solutions (ZGEBS) has taken a bold step forward in its digital transformation journey, unveiling a suite of enhanced digital tools designed to streamline the way businesses manage global employee benefits. With new interactive dashboards, a dynamic online collaboration platform, and automated data transfer solutions, ZGEBS is setting a new standard for efficiency, transparency, and customer satisfaction. Innovation at the Core of Employee Benefits At the

Oscar Health, an American health insurance company known for its innovative approach, has signaled a strong position for growth in 2024. Founded in 2012, Oscar Health was created to simplify the complexities of the U.S. healthcare system through technology, data, and design. The company’s recent financial performance and strategic operations highlight its potential for profitability and expansion. Financial Milestones and Growth Indicators Oscar Health‘s CEO, Mark Bertolini, recently announced

London, 22 January 2024 In a groundbreaking move, MAXIS Global Benefits Network (MAXIS GBN), a pioneer in the corporate wellness arena, has announced a partnership with Maven Clinic, the world’s preeminent virtual clinic for women’s and family health. This collaboration marks a significant milestone in MAXIS GBN’s efforts to expand its wellness technology marketplace. The union between MAXIS GBN and Maven Clinic is poised to revolutionize healthcare offerings for

In a strategic move that reshapes the landscape of employee benefits and pension administration, Aptia has officially announced its launch. Formed by investment from Bain Capital Insurance, Aptia emerges as a formidable entity, boasting an impressive clientele of 1,100 global clients, thereby extending its services to support over 7 million individuals. A New Era in Benefits Administration? The firm is the result of a strategic acquisition of Mercer’s U.S.

In a significant turn of events, Cigna Group has ceased its efforts to merge with fellow health-insurance provider Humana. Initially poised to form a colossal entity valued at approximately $140 billion, the deal’s dissolution arose primarily due to disagreements over financial terms. Despite prior discussions hinting at a possible closure by year’s end, the proposed cash-and-stock transaction faced skepticism, particularly concerning the use of Cigna’s stock as a part

In a landmark move for the Italian insurance sector, energy giant Enel has confirmed the establishment of its first onshore captive insurance company, set to commence operations on January 1, 2024. This strategic decision involves merging Enel Insurance NV, currently based in the Netherlands, into this innovative Italian reinsurance captive. This pivotal step reflects a growing confidence among major Italian corporations in the evolving regulatory landscape, particularly with the

Swiss Life, a prominent player in the life insurance and financial services sector, has unveiled pivotal transitions within its Group Executive Board slated for 2024. After an 18-year tenure, including a decade as the Group CEO, Patrick Frost is set to resign from his role, making way for Matthias Aellig, the incumbent Group CFO, to ascend as the new Group CEO from 16 May 2024. Reflecting on his decision,

The global health crisis dramatically transformed how we operate, pushing numerous companies into a remote working model, while others adopted a blend, known as the hybrid model. Recent statistics from Pew Research Center indicate that 35% of employees capable of remote tasks are sticking to a fully remote routine, and 41% are following a hybrid schedule. Yet, as the dust settles post-COVID-19, many corporates like Zoom and Meta are

In an anticipated leadership shake-up, Bruce Broussard, Humana‘s CEO with over a decade at the helm, will relinquish his role as the head of the insurance giant known for its brands like CenterWell in home health, pharmacy, and primary care domains. Taking his place, starting January 8, 2024, will be Jim Rechtin, who currently leads Envision Healthcare. This transition will see Rechtin collaborating closely with Broussard until the second

Leading B2B2C insurance provider, Allianz Partners, joins forces with global insurtech giant, bolttech, to introduce advanced device and appliance insurance in the Asia Pacific and the US. This strategic alliance leverages the unique strengths of both companies, aiming to seamlessly integrate insurance offerings during customer interactions. This collaboration will offer integrated solutions for businesses like e-commerce platforms, telecom providers, banks, insurers, and OEMs. The goal? Simplifying the process for

Bharti Life Ventures is on track to secure full ownership of Bharti AXA Life Insurance Company. On Wednesday, Bharti Group announced a definitive agreement to purchase AXA’s 49% share in the life insurance entity. This move follows the 2020 decision by Bharti and AXA to integrate Bharti AXA General Insurance with ICICI Lombard and AXA’s subsequent departure from ICICI Lombard’s shareholder list. The deal is anticipated to finalize by

APRIL International, a leading French and global health insurance provider, is proud to share its recognition as the Top International Individual Health Insurance Provider at the Health & Protection Awards 2023. This distinguished honor complements the firm’s growing list of accolades, including a consecutive 5-star service rating in the 2023 International Private Medical Insurance Report by Health and Protection. Recently, APRIL International held its debut broker conference in London.

In a straightforward and strategic organizational move, Generali has appointed Giulio Terzariol to lead its newly established “Insurance” Division, effective January 2024. This appointment marks a significant development in Generali’s organizational structure, consolidating all of its Insurance Business Units into one unified Division. Giulio Terzariol, with a rich history in the insurance sector, will step into the role of CEO Insurance, a position that entails comprehensive oversight of all

Aegon N.V., a notable entity in the financial and insurance sector, has embarked on a pivotal journey, aiming to shift its legal domicile from the Netherlands to Bermuda, as elucidated in their Shareholder Circular dated September 29, 2023. This strategic move, which is set to be voted upon at the Extraordinary General Meeting of Shareholders, is not merely a geographical shift but is embedded with intricate financial, regulatory, and

In a pivotal announcement at the recent broker conference in London, Eric Maumy, CEO of the insurance distribution titan, APRIL Group, and its subsidiary APRIL International UK, unfolded a bold three-year growth blueprint, particularly spotlighting the International Private Medical Insurance (IPMI) division. The strategy, meticulously crafted, is not merely a response to the current market dynamics but a forward-thinking approach to harness both the UK and global markets with

Luxembourg’s leading insurer Foyer in July 2023 announced the completion of the acquisition of iPMI carrier Globality from ERGO Group, after receiving approval from the regulator, Commissariat aux Assurances. The new company includes Foyer Global Health, the international health insurance and services provider for globally mobile people within Foyer Group, and Globality Health, previously part of ERGO Group, which in turn is owned by Munich Re. Foyer Global Health

Foyer, Luxembourg’s leading privately owned financial group, in March 2023 acquired Globality Health from ERGO Reiseversicherung (Ergo Travel Insurance), part of ERGO Group. ERGO is the retail division of Munich Re. Leadership in international health insurance With this acquisition, Foyer is investing in a high-potential business sector and strengthening its position in international health insurance for expatriates, an activity it has developed since 2014 through Foyer Global Health. Globality’s

Based in Lyon, France, wholesale broker April in November 2022 was acquired by U.S. venture capital firm Kohlberg Kravis Roberts (KKR). Previously owned by CVC Capital Partners, another venture capital firm which had acquired April from its founder Bruno Rousset in 2019, the company changed hands for a reported EUR 2.3bn. Present in 18 countries with 2 300 employees, the company in 2021 earned EUR 544 million in fees

Zurich Global Employee Benefits Solutions (ZGEBS) in October 2022 announced that Sompo Himawari Life Insurance (SHL), the life insurance company of Sompo Holdings in Japan, joined the ZGEBS network. Alan Chua, Director, Customer & Distribution Management APAC, ZGEBS, commented that “[…] Zurich will now offer SHL’s “Insurhealth” solutions to Zurich’s multinational customers in Japan. […]”. The Insurhealth group product, by combining the original functions of insurance and healthcare, “provides

Allianz Global Corporate & Specialty SE (AGCS) in July 2022 announced it had merged its captive solutions team into its multinational business. AGCS’s multinational business provides ART (alternative risk transfer), global programs, captive fronting, and reinsurance to large and mid-sized companies as far as P/C coverage is concerned. Guy Money, previously global head of product at AGCS, is the new global head of multinational business. He is based in

Generali in June 2022 announced a reorganization of its management structure that sees all its global business lines report into a new business unit, i.e. “France, Europ Assistance and Global Business Lines”. The three global business lines are: Generali Corporate and Commercial Generali Employee Benefits (GEB), including iPMI activities known as GGH (Generali Global Health) Arte Generali GEB, headed by Ludovic Bayard since May 2022, previously reported to the

IPEBLA, the International Pension and Employee Benefits Lawyers Association, in June 2022 announced it would hold its Eighteenth Biennial Conference in Amsterdam, Netherlands from August 28th to August 30th, 2022, the first conference it has held in person since Lisbon in 2019. IPEBLA conferences provide a forum for common and civil law lawyers from different countries to discuss current domestic and international issues affecting their practice in pension, executive

Zurich Insurance in January 2022 announced the sale of an Italian life and pension portfolio to Portuguese carrier GamaLife – Companhia de Seguros de Vida. The stated purpose is to reduce Zurich’s solvency requirements and free up capital. The amount of the transaction has not been disclosed, but the press release states that the Solvency Capital Requirement under Swiss solvency rules will “decrease by approximately $1.2 billion.” and that

The Worldwide Broker Network (WBN) in December 2021 announced the appointment of Alan Fergusson as Global Employee Benefits Practice Leader, reporting to CEO Olga Collins. Fergusson has over 20 years of experience in the employee benefits sector. Prior to this appointment, Alan has been a consultant for WBN and has been associated with the network since 2012 evolving the E.B. strategy and participating on the Board of Directors from

Willis Towers Watson in January 2022 announced it had changed its brand name to WTW. In France, WTW will drop the well-known Gras Savoye brand name in favor of WTW. Willis had acquired Gras-Savoye in 2015. Furthermore, WTW’s ticker symbol on the NASDAQ stock market will change to “WTW” instead of “WLTW”. These changes occur in the wake of WTW’s failed acquisition by Aon “as [the company now moves]