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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

The OECD’s “Pensions at a Glance 2023” report presents a detailed analysis of pension systems, demographic trends, and policy reforms among its G20 member countries. Here’s GBV’s comprehensive analysis based on the key findings from the report: 1. Pension Reforms and Retirement Age Adjustments Increasing Retirement Ages: Many OECD countries continue to increase retirement ages. For example, Sweden raised its retirement age and linked it to two-thirds of life-expectancy

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

The comprehensive analysis of the “Vitality in America” study, commissioned by The Cigna Group, reveals crucial insights into the state of vitality among Generation Z and other American adults. This study, conducted in June 2023, surveyed 10,000 adults and used the Evernorth Vitality Index (EVI) to measure health and well-being across eight dimensions: emotional, environmental, financial, intellectual, occupational, physical, social, and spiritual. Generation Z’s Vitality Metrics Mental Health Challenges

In a landmark move, IBM has redefined its retirement strategy, signaling a potential trend for corporate America. Our analysis reveals IBM’s pivot from traditional pension accruals to a novel approach, blending cash balance benefits with a pay increase and pay credit system. This shift, executed amid a climate of peak pension fund health, showcases IBM’s innovative use of surplus assets for future benefits. The new scheme phases out the

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

GBV summary and Key Findings Stability in Unemployment Rate: The OECD unemployment rate remained stable at 4.8% in September 2023, consistently staying below 5.0% since July 2022. This period saw an increase in the number of unemployed persons in the OECD, reaching 33.3 million, with a notable rise in unemployed men​​. Category-wise Stability and Youth Unemployment Concerns: Unemployment rates were broadly stable across all defined categories: men, women, youth

The report titled “Global Pension Risk Transfer Market Outlook” by Milliman, dated November 3, 2023, provides a comprehensive analysis of the Pension Risk Transfer (PRT) markets, focusing on key territories such as the United Kingdom, the United States, the Netherlands, and Ireland. The report outlines the global landscape of Defined Benefit (DB) pension schemes and their interaction with the PRT market. It emphasizes the importance of stakeholders understanding the

OECD Indicators Reveal Trends in Health Spending, Digital Health, and Systemic Transformation The Organisation for Economic Co-operation and Development (OECD) has released its “Health at a Glance 2023” report, offering a critical analysis of health system performance and health indicators across member and partner countries. Health Spending: A Global Perspective The report notes that in 2019, before the pandemic, OECD countries spent an average of 8.8% of their GDP

The insurance realm is undergoing a transformative phase, spurred by digital advancements. These digital shifts not only pave the way for innovative growth and efficiencies but also introduce new risk dimensions. A notable outcome of this digital evolution is the surge in companies’ intangible assets, particularly digital data. However, this digital reliance also exposes these assets to threats like cyberattacks and business disruptions. Swiss Re Institute‘s recent sigma study,

As the world observes World Mental Health Day today, October 10th, International SOS,World Mental Health Day today, October 10th, International SOS, a provider of health and security risk services globally, underscores the increasing significance of mental health resilience within the international workforce. In a world grappling with persistent and far-reaching crises, the impact of these challenges on employees’ mental well-being has never been more pronounced. The convergence of a

Introduction In the complex domain of health insurance, adverse selection persistently surfaces as a critical issue, influencing pricing and product allocation among consumers. The research paper, “The Incidence of Adverse Selection: Theory and Evidence from Health Insurance Choices,” authored by Michael Geruso, Timothy Layton, and Adam Leive, meticulously explores the multifaceted implications of adverse selection, particularly its impact on pricing and product allocation among consumers, and its distributional consequences.

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

Overview of OECD Inflation Trends in August 2023 The OECD (Organisation for Economic Co-operation and Development) has released a detailed report, providing an in-depth analysis of the inflation trends observed across its member countries in August 2023. The report reveals a notable increase in the year-on-year inflation within the OECD, which ascended to 6.4% in August 2023, up from 5.9% in July 2023. This inflationary trend was witnessed in

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 2022, U.S. insurance companies witnessed a deceleration in private equity investments, marking a mere 3.3% increase to reach $132.0 billion, following a stellar growth trajectory in the preceding year, as per a recent report by AM Best. The detailed insights of this financial shift are encapsulated in AM Best’s Special Report, titled “Growth in Insurers’ Private Equity Investments Slowed Significantly in 2022,” which can be accessed here. Life/annuity

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

The Dynamics of the Global Workforce: Insights from SHRM’s 2023 Study In the ever-evolving world of work, the traditional definition of a worker is undergoing significant transformation. The Society for Human Resource Management (SHRM) embarked on a comprehensive study in July 2023 to delve deeper into the unique desires, requirements, and experiences of workers worldwide. This report provides an insightful analysis of the findings from SHRM’s research, shedding light

The healthcare sector has been a focal point of economic discussions for years, with medical costs consistently on the rise. Recent data from Mercer’s National Survey of Employer-Sponsored Health Plans 2023 has shed light on this escalating issue, revealing that US employers anticipate a 5.4% surge in health benefit costs per employee in 2024. This projection comes even after employers have made adjustments to their plans to curtail this

In a recent report published by the Organisation for Economic Co-operation and Development (OECD) on September 20, 2023, the global economic landscape is analyzed, shedding light on the current economic dynamics and projecting the trends for the years 2023 and 2024. The report, which can be accessed here, presents a detailed analysis of the global economic scenario, emphasizing the challenges of confronting inflation and sustaining growth. Global Economic Outlook

In a world where financial boundaries are constantly blurring, understanding the nuances of global capital allocation has never been more critical. The recent NBER research report by Sergio Florez-Orrego, Matteo Maggiori, Jesse Schreger, Ziwen Sun, and Serdil Tinda sheds light on this intricate landscape, offering a road map for future research and policy implications. Let’s delve into the key takeaways from this comprehensive study. The Surge in Cross-Border Investments

Seasonal allergies, a common adversary for many, have far-reaching implications that extend beyond sneezes and itchy eyes. A groundbreaking study titled “Invisible Killer: Seasonal Allergies and Accidents” by Mika Akesaka and Hitoshi Shigeoka delves deep into the unseen repercussions of pollen exposure, unveiling a peril that is more significant than previously perceived. The Underestimated Impact of Pollen Traditionally, the societal cost of pollen exposure has been measured in terms

Antimicrobial resistance (AMR) poses a significant global threat, driven primarily by the misuse of antibiotics. This issue is explored in-depth in an OECD report, which reveals critical insights and potential consequences of unchecked AMR. Key Points: Global Antibiotic Consumption: Over the past two decades, the use of antibiotics in humans has moderately increased in OECD and EU/EEA countries but significantly surged in non-OECD G20 nations. Notably, the consumption of

MAXIS Global Benefits Network (MAXIS GBN) is pleased to announce the appointment of Suzanna Hicks and Nathan Dewhurst as Member Managers, reinforcing their commitment to providing top-notch support to network members across the Europe, Middle East, and Africa (EMEA) regions. Suzanna Hicks, who joined MAXIS GBN in July 2023, brings a wealth of experience from her previous role at AXA Health. With five years as a Care Coordination Pathway

September 9, 2023 – In a thought-provoking research paper titled “Retirement Consumption and Pension Design,” the National Bureau of Economic Research (NBER) delves into the intricacies of retirement planning and pension structures. This study, authored by Jonas Kolsrud, Camille Landais, Daniel Reck & Johannes Spinnewijn, offers valuable insights into how individuals’ retirement consumption patterns are influenced by the design of pension systems. The Research Paper The full research paper can be accessed here,

In a recent report by AM Best, titled “Life/Annuity Reinsurers Remain Prepared for Growth,” global life reinsurers are seen weathering the storm of excess mortality with cautious optimism. Despite facing challenges due to elevated life claims, the industry appears poised for continued growth. The report, part of AM Best’s comprehensive analysis of the global reinsurance industry leading up to the Rendez-Vous de Septembre in Monte Carlo, highlights several key

Updated: September 5, 2023 The latest data from the OECD reveals that year-on-year inflation, as measured by the Consumer Price Index (CPI), saw a notable uptick, reaching 5.9% in July 2023. This represents an increase from the 5.7% recorded in June and marks the first rise since October 2022. The primary driver behind this increase in inflation was a sharp surge in inflation in Türkiye. However, when excluding Türkiye