As of June 2015, Candriam – BIL Pension Fund is still the Luxembourg representative at AEIP (Association Européenne des Institutions Paritaires, or European Association of Paritarian Institutions), even after its former owner, leading Luxembourg bank Banque Internationale à Luxembourg (BIL) separated from Dexia group and was acquired by Precision Capital of Qatar and Candriam was sold in February 2014 to New York Life Insurance Company, the largest U.S. mutual

In a August 5, 2015 press release, New York-based insurance brokerage Integro said it has reached an agreement to be acquired by PE firm Odyssey Investment Partners. Odyssey re-enters the insurance industry after previous investments in Montpelier Re, OneCall Medical and York Insurance Services.  

INTEGRO TO BE ACQUIRED BY ODYSSEY INVESTMENT PARTNERS Investment Strongly Endorses Specialty Growth Strategy New York, NY (August 5, 2015) – Integro Ltd., an international insurance brokerage and risk management firm, today announced that it has reached an agreement to be acquired by entities affiliated with Odyssey Investment Partners, LLC, positioning Integro for continued growth. Financial details of the investment were not disclosed. Founded in 2005, Integro has evolved

Willis announced the acquisition of PMI Health Group, an independent healthcare adviser and broker in the U.K. The deal will  raise Willis’s presence in the U.K. employee benefits and healthcare market, and  enhance its product offerings and skills base.

IGP welcomes Gothaer Lebensversicherung AG as their new Network Partner in Germany. Previously, Victoria Lebensversicherung -part of Ergo group and no longer in existence as a separate brand- was IGP’s German partner. Ergo Germany is no longer a member of a pooling network. Gothaer Germany remains a member of the new AIG network (formerly known as ING Global Network).  

Aetna will acquire Humana for cash and stock valued at $37 billion. The acquisition will push Aetna’s Medicare Advantage membership to  4.4 million and make it possible for the two companies to share knowledge and innovations in order to create better healthcare products, the company said. The deal is subject to regulatory and other approvals; it is expected to be completed in late 2015.

AIG in early May 2015 announced that it has acquired a controlling stake in Brussels-based ING Employee Benefits Global Network and renamed it AIG Global Benefits Network (AIG GBN). AIG’s American General Life Insurance Company unit joined the pooling network as the new US partner, taking the place of ING USA, recently spun-off and renamed VOYA. VOYA, in turn, exits the US global employee benefits market in order to

Willis in July announced three new members to Willis Network, bringing the total number to 119. The three new members are: Smith England Ltd (Cheshire), Bluestone Insurance Services Ltd (Gloucestershire) and Rankin Risk Solutions Ltd (Perthshire). The news follows the addition earlier in the year to the network of Allianz Business Services Ltd and Clark Thomson Insurance Brokers.

Willis combines with Towers Watson to create a new $18 billion insurance, personnel, and risk company. Willis shareholders will own 50.1% of the new Ireland-based company, Willis Towers Watson. The new $18-billion company has annual revenue of about $8.2 billion and 39,000 staff in 120 countries, and advises more than 80% of the world’s top 1,000 companies.

In another instance of the on-going consolidation of the life insurance sector in Europe and of European banks selling their insurance subsidiaries, Monceau Assurances, a French composite insurer, announced the acquisition of Vitis Life Luxembourg from KBL European Private Bankers on July 7, 2015. KBL is owned by Precision Capital, based in Qatar. Vitis Life specializes in life insurance for high net-worth individuals (HNWI) and sells mostly unit-linked products

Generali announced in June 2015 a reorganization of its corporate structure in the Central & Eastern European (CEE) region. Generali increased its ownership of Generali PPF Holding B.V. (GPH) to 100% by acquiring the remaining 24% minority share held by PPF Group, in line with the agreements signed on January 8, 2013. The holding company operating in Central-Eastern Europe changes its name to Generali CEE Holding B.V. The CEE

AXA has announced in June 2015 the creation of AXA Lab Asia in Shanghai, identical to AXA Lab in the Silicon Valley. Led by Frank Desvignes, it will act as a business-focused center of expertise on data analytics and foster Research & Development. Meanwhile, AXA Strategic Ventures will open a new office in Hong Kong, so as to be in the best position to seize the numerous investment opportunities

Since October 2014, Abu Dhabi National Insurance Company (ADNIC) is the IGP network partner for the United Arab Emirates (UAE). It offers group health and life policies. ADNIC is a composite insurance carrier and is publicly listed.

Since November 2014, Industrial Alliance is a network partner in Canada for Allianz Global Benefits Network. Industrial Alliance has operations in Canada and in the United States and offers group health, dental, optical, disability and life covers, as well as individual products. Industrial Alliance is listed on the Toronto Stock Exchange.

A new member of the AXA group, Mansard Insurance plc is the new Insurope network member in Nigeria. Mansard is a composite, generalist insurance carrier offering life and non-life insurance to individuals, corporations and institutions. Through subsidiaries, it also offers pensions, asset management and health maintenance solutions.  

Mansard Insurance, a leader in the Nigerian employee benefits market, joins the MAXIS Global Benefits Network as a result of the acquisition by AXA of 100%  of Assur African holdings, which holds a 77% stake in Mansard Insurance plc. Through this acquisition, AXA has become the #4 insurance player in Nigeria. Interestingly, Mansard announced its joining of the Insurope pooling network on May 29, 2015.

In a January 2015, Cigna-commissioned “360° Well-Being” survey of motivations, perceptions, and attitudes toward overall “well-being” among the general public in Asia and other international markets, Hong Kong ranked last—and China led the pack. Countries surveyed in the Asia-Pacific region included South Korea, Thailand, and New Zealand. Hong Kongers perceive themselves as performing “poorly” across all health and well-being categories compared to other markets.