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]

Allianz Global Benefits (AGB) and Sanitas, a healthcare specialist in Spain, in December 2021 announced a partnership agreement to globally provide group healthcare insurance programs to multinationals. According to Dirk Hellmuth, CEO of Allianz Global Benefits, Sanitas healthcare plans can be included in global employee benefits programs, such as Multinational Pooling, Captive Reinsurance and Global Underwriting. Javier Ibáñez, Managing Director of Sanitas Seguros, states: “We are very proud of

Coming shortly after the announcement of their merger, the new Diot-Siaci group, which is now the leading broker on the French market, in November 2022 finalized the make-up of its future executive committee. This new management body will include eleven members, coming from both Diot and Siaci. At the top of the group, Pierre Donnersberg, Chairman of Diot-Siaci, and Christian Burrus, Vice-Chairman and General Manager. Changes affecting international benefits,

Recently formed French mutual insurance carrier Aéma in October 2021 announced it has completed the acquisition of Aviva’s French operations. As a result, the company now ranks #5 among French insurance carriers. British seller Aviva plc received EUR 3.2 billion in cash for the sale of Aviva France, including its life, non-life, and asset management businesses. Aéma Groupe was launched in January 2021 by mutuals Macif and Aésio Mutuelle,

Global brokers Aon and Willis Towers Watson (WTW) in July 2021 announced they had mutually agreed to terminate their combination agreement after the U.S. Department of Justice (DOJ) filed an antitrust lawsuit against the $30bn deal. Aon also announced the extension of employment agreements for CEO Greg Case and CFO Christa Davies to April 1st, 2026, in a move to reassure financial markets. The merger was announced in early

Multinational pooling network IGP in May 2021 announced a new partner in Cambodia, Sovannaphum Life Assurance. Sovannaphum Life Assurance (SVL) is a joint venture between Canadia Investment Holding, the owner of Canadia Bank, and Muang Thai Life Assurance, IGP’s partner in Thailand. The company was granted full license as a life insurance Company by Ministry of Economy and Finance of Cambodia in December 2015 and started operations in 2016.

Life-insurance startup Ethos in May 2021 raised USD 200 million in a funding round valuing the business at more than 2 billion. The San Francisco, California-based company previously had raised a total of USD 100 million. Ethos is a producer and a third-party administrator (TPA) for life insurance carriers. Its platform allows customers to purchase life insurance policies online. Currently, the company works with a list of carriers that

Nowadays, any discussion around healthcare for your employees will inevitably center around Covid. At a time when the pandemic and its challenges are still making headlines as outbreaks, infection rates and vaccines flood every news bulletin, it’s easy to overlook the impact on other areas of healthcare. Many of these involve complex or life-threatening illnesses, such as cancer. Global Benefits Vision recently spoke to Further Group CEO Frank Ahedo about the impact that Covid is having on the treatment of serious medical conditions, and how this changing landscape will affect the way employees have access to treatment.

Paolo Lippi is the founder of consulting firm, LongueVue Analytics. Global Benefits Vision: Tell us about yourself – your career to date in a nutshell.

Swiss Re report advises employers reopening public spaces on reducing the risk of exposure to the COVID-19 virus.

Direct primary care provider Paladina Health in November 2020 changed its name to Everside Health

On GEB’s Response To Covid-19 And The Steps Being Undertaken To Ensure Cover For All

U.S. direct health insurer Oscar in June 2020 raised another USD 225 million in a late-stage round of funding. Led by co-founder and CEO Mario Schlosser, Oscar now is active in 15 U.S. states and has more than 420,000 members in individual, Medicare Advantage and small group products. Certainly helped by the coronavirus crisis, most U.S. healthcare providers today offer virtual consultations and ever more patients make use of

In a reversal of strategy, AIG in mid-June 2020 announced it had decided to wind down its AIG Global Benefits Network (AIG GBN) multinational pooling network. According to the company, “AIG has realigned its strategy with regard to AIG’s Global Benefits Network business and as a consequence, [it] has decided to wind down its activities.” All existing pools will be cancelled effective December 31, 2020. AIG pooling clients now

AXA XL in April 2020 announced a new leadership team and a new organization following a strategic review. Changes include the creation of a single global insurance underwriting function and the establishment of three geographical business units across the Americas, Eurasia, and the UK & Lloyd’s market. Underwriting will be led by a global Chief Underwriting Officer (CUO), responsible for underwriting governance, pricing, P&L and the management of the

MAXIS Global Benefits Network (MAXIS GBN) in May 2020 announced that AXA COLPATRIA had joined the London-based global employee benefits network. AXA COLPATRIA provides medical coverage in Colombia as prepaid and health insurance. It is headed by Bernardo Rafael Serrano López, General Director and CEO. The company claims to be the sixth largest carrier in the Colombian PHI sector (pre-hospital and insurance) with a 6% market share and 220,000

AXA in April 2020 struck a deal to sell its Life & Savings, Property & Casualty, and Pension business operations in Poland, the Czech Republic, and Slovakia to Austria’s Uniqa Insurance Group for €1bn. Uniqa, which lacked critical mass in major eastern European markets, outbid Generali, and Austria-based AG. Uniqa has core markets in Austria, Central and Eastern Europe, and 20,000 employees serving 10.1 million customers in 18 different

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