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

Zurich Global Employee Benefits Solutions (ZGEBS) in February 2023 announced the appointment of Dag Zwikker as Regional Distribution Manager for the Nordics and the Benelux markets, based in Zurich, Switzerland. ZGEBS is part of Zurich Integrated Benefits, which brings together the various Zurich businesses providing global employee benefits, including cross-border corporate savings and risk solutions. In a way, it is back to the roots for Dag as he started

Generali Employee Benefits (GEB) in February 2023 announced the appointment of François-Xavier Dub as its new General Manager, reporting to GEB CEO Ludovic Bayard. François-Xavier Dub was since 2019 Head of Insurance within the Partnerships division at Generali France. He began his career in 2008, within the General Inspectorate of Société Générale, before joining the strategy consulting firm Exton Consulting in 2010, first as a senior consultant and then

The Organization for Economic Cooperation and Development (OECD) in January 2023 announced changes to its forward-looking economic indicators known as the “Composite Leading Indicators” (CLI) and at the same time introduced a new Short-Term Indicators Dashboard that includes the CLI and many more measures of economic activities. The CLI as of now will be available for a reduced set of countries only: G20 countries (minus Argentina, Saudi Arabia, and

The Organization for Economic Cooperation and Development (OECD) in January 2023 released its latest figures on (un-)employment. According to the organization, employment and labour force participation rates stable at record highs in the third quarter of 2022. The unemployment rate remained at 4.9% in November 2022, the fifth consecutive month at this record low since the start of the series in 2001. However, the aggregate masks wide differences across

MAXIS Global Benefits Network (MAXIS GBN) in January 2023 announced that David Schupak will become Director – Global Relationship Management. He previously led the Western Europe, Middle East and Africa business development teams. He will continue reporting to Paul Lewis, Chief Business Development Officer at MAXIS GBN and to be based in London. In his new role, David will oversee MAXIS GBN’s inbound business development strategy (opportunities for MAXIS

The World Economic Forum (WEF) in January 2023 published the 2023 edition of its yearly Global Risks Report. Prepared with global broker Marsh McLennan and insurance carrier Zurich, the 98-page report covers issues such as renewed inflation; economic downturns and heightened economic competition; climate action (or lack thereof); and the increasing polarization of societies. It also addresses areas of concern for the near future, including the pressure on natural

The European Insurance and Occupational Pensions Authority (EIOPA) in December 2022 published a report on cross-border Institutions for Occupational Retirement Provisions (IORPs), i.e. corporate pension plans, in the European Economic Area (EEA). According to EIOPA, the number of active cross-border IORPs fell from 33 in 2020 to 31 in 2021. Such plans cover approximately 93,000 members and beneficiaries and manage assets worth around €13bn, up from 70,000 members and

The Organization for Economic Cooperation and Development (OECD) in December 2022 released its latest inflation figures. According to the OECD, year-on-year inflation in the OECD as measured by the Consumer Price Index (CPI) rose to 10.7% in October 2022, from 10.5% in September. Similarly to the previous month, double-digit inflation was recorded in 18 out of 38 OECD countries, with the highest rates observed in Estonia, Hungary, Latvia, Lithuania and

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

The Organization for Economic Cooperation and Development (OECD) in November 2022 released its latest inflation figures. The Consumer Price Index (CPI) rose to 10.5% in September 2022, from 10.3% in August. Double-digit inflation in September 2022 was recorded in 19 of 38 OECD countries, with the highest rates observed in Estonia, Hungary, Latvia, Lithuania and Türkiye (all above 20%). Inflation excluding food and energy continued to rise in the OECD

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

Marsh McLennan (MMC) in September 2022 announced that John Q. Doyle has been named President and Chief Executive Officer (CEO), effective January 1, 2023. Operating under several brands: Marsh (P/C); Guy Carpenter (reinsurance); Mercer (L/H, including employee benefits); and Oliver Wyman (management consulting); and with sales of nearly USD 20 billion in 2021, MMC is by far the largest insurance broker in the world. His predecessor Daniel S. Glaser

Now in its second edition, the European Retirement Week 2022 will take place from 28 November to 3 December 2022 in Brussels, Belgium. The purpose of the European Retirement Week is twofold: raising awareness of the pension challenge, and serving as a platform for stakeholders and policymakers to discuss workable solutions to ensure that people in Europe can count on adequate and sustainable pensions, today and tomorrow. Challenges include

The European Association of Paritarian Institutions, AEIP, in September 2022 announced its upcoming yearly conference. To be held online in early November 2022, this year’s conference will discuss the Welfare State Transformation and the Future Role of Paritarian Funds: Facing the impact of the pandemic, the changing labor market and the drive towards sustainability. AEIP’s Annual Conference brings together a wide range of experts from different policy fields, to

Gallagher, a global leader in insurance brokerage, risk management and consulting services, in September 2022 announced Sarah Dick has joined as its new Area Vice President and National Clients Team Leader in the Multinational Benefits & HR Consulting practice in Gallagher’s Benefits and HR Consulting Division. Dick is based in Tucson, AZ and will be responsible for leading the large case Center of Excellence (COE) business and developing the

Employee benefits management software provider Benify, together with global public opinion and data company YouGov, in early 2022 conducted a survey of more than 39,000 employees throughout Europe about their views on the future of work. Participants were asked to answer a series of questions about their employee benefits, their current work conditions, what they want most from their employer, and what they consider most important when choosing a

The Organization for Economic Cooperation and Development (OECD) in August released its gross domestic product (GDP) figures for the second quarter of 2022. According to provisional estimates, Q2 2022 GDP in the OECD rose by 0.3% quarter-on-quarter, equal to the growth in the previous quarter. GDP growth was negative in the United States and the United Kingdom (both minus 0.1%), and it slowed down sharply in Germany (0.1% compared to 0.8% in the

After releasing its latest inflation figures, the Organization for Economic Cooperation and Development (OECD) in August 2022 also released data about the impact on real household incomes. Real household income per capita fell by 1.1% in the OECD area in the first quarter of 2022, contrasting with growth of 0.2% in real GDP per capita. This is the fourth quarter in a row that GDP per capita has outpaced

Andries Venter in August 2022 was appointed as Senior Partnership Manager at Foyer Global Health (FGH) to support, promote and enhance relationships with strategic partners and global brokers. His focus is on the Middle East region, where he works closely with Maxhealth, an iPMI provider based in Dubai, to improve service delivery and integrate new services in the GCC region. Foyer Global Health is an international health insurance and

The Organization for Economic Cooperation and Development (OECD) in August 2022 released updated figures about inflation across the OECD area. According to the OECD, the consumer price index (CPI) rose to 10.3% year-on-year in June 2022, after 9.7% in May 2022. This is the largest price increase since June 1988. Year-on-year inflation, again impacted by rising food and energy prices, increased in all countries except Germany, Japan, and the

MAXIS Global Benefits Network (MAXIS GBN) in July 2022 announced a new partnership with Further Group, a global leader in the design and development of equitable and affordable health insurance solutions. Further will be offering its innovative Critical Advantage solution to MAXIS GBN’s multinational clients. By selecting to work with Further, multinationals will be able to offer their people treatment, outside of their home country, at medical centres of

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

James Sharpe in July 2022 was promoted to Vice President, Benefits, M&A and Mobility at U.S. publishing firm Wiley, based in New York, N.Y. He previously was Senior Director, HR M&A and Global Mobility, also at Wiley. Earlier, he was Director, Global Services and Solutions – M&A ; Global Benefits Consultant; and Consultant (the latter position based in London, U.K.) at Willis Towers Watson. He started his career as

The Organization for Economic Cooperation and Development (OECD) in July 2022 released updated figures about inflation across the OECD area. According to the OECD, year-on-year inflation as measured by the Consumer Price Index (CPI) rose to 9.6% in May 2022, compared with 9.2% in April 2022, largely driven by food and energy prices. This represents the sharpest price increase since August 1988. Food price inflation in the OECD continued

The Organization for Economic Cooperation and Development (OECD) in July 2022 released Composite Leading Indicators (CLIs) that continue to signal growth losing momentum in most major economies and in the OECD area as a whole. Among large OECD economies, the CLI for the United States now signals growth losing momentum, a change from last month’s stable growth indication. In the United Kingdom, Canada and in the euro area as a whole, including Germany,

The United Nations Conference on Trade & Development (UNCTAD) in July 2022 released a special issue of its Investment Policy Monitor, which analyzes the evolution of corporate income taxes across the world, as well as country efforts to attract investments through tax incentives. The Monitor expands on the analysis presented in the World Investment Report 2022: International Tax Reform and Sustainable Investment. Key findings include: The tax competition to