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Internal, identifying news published in the magazine
Joos Louwerier, current CEO of Allianz Life Korea, in June 2017 was named Country Manager and CEO for Allianz Life Indonesia, replacing Joachim Wessling. Louwerier will oversee the growth strategy and have overall management responsibility for all Allianz operations in Indonesia. A graduate of the University of Amsterdam, Louwerier also holds two Executive MBAs from the UCLA Anderson School of Management and the National University of Singapore. He brings
Handojo G. Kusuma has been appointed Deputy CEO for Allianz Life Indonesia. He will oversee Distribution and Market Management to expand sales and channel growth.
Global consulting and actuarial firm Milliman in June 2017 released the findings of a study titled “Participating business in Asia: 2016 Edition.” The study analyses and compares participating (par) business across seven Asian insurance markets, most notably Singapore, India, Malaysia, Hong Kong, mainland China, Indonesia and Sri Lanka. The report collates in-depth information not otherwise available and provides insight from survey results about par business in Asia and includes:
Generali Global Health (GGH), the international health insurance division of Generali, in June 2017 launched a new product in Spain, Global Choice, an international health insurance plan for groups with globally mobile employees. GGH has partnered with sister company Generali España to launch Global Choice in Spain. Since its launch in select markets throughout 2016, including the UAE and Hong Kong, Global Choice has been updated and the Spanish
GEB in June 2017 announced the appointment of three senior executives to its leadership team. As part of the investment drive enabling its growth strategy, Generali’s global employee benefits network has hired three well-known global employee benefits leaders from MAXIS and AXA. Thierry Mestach joins GEB as director of Network Management & Partnerships, after 19 years with AXA and MAXIS which he joined in 2000, soon after its launch.
The Worldwide Broker Network (WBN) Board of Directors in June 2017 elected Priscila Conduta Elias, President and CEO of Harmonia Brazil, to serve on the board of directors as the regional representative for South and Central America. Elias replaces her father Jose Roberto Conduta, who stepped down from the board in April 2017. Based in Sao Paulo, Elias has served as the President and CEO of Harmonia Brazil since 2011. In her current role, she is
AIG Global Benefits Network in June 2017 announced that FWD Thailand had joined the network, further complementing its footprint in Southeast Asia. Established in 2012, FWD Thailand provides insurance coverage in savings, personal accident, retirement plans, and investment-linked insurance. FWD already is AIG GBN ‘s partner in Hong Kong and Japan. It is the insurance business arm of Pacific Century Group and has a minority shareholder in Swiss Re.
WBN (Worldwide Broker Network) in June 2017 announced the addition of Pacific Prime as its latest member. Pacific Prime is a brokerage firm headquartered in Hong Kong, and a growing international health insurance advisor and property & casualty broker that leverages its close relationships with over 60 insurance companies. Founded in 1999 by Neil Raymond, Pacific Prime employs more than 400 staff including 35 nationalities. Raymond began his working career at Shell
Australian broker network Steadfast in June 2017 announced it had acquired a non-controlling stake in unisonBrokers, a German-US broker network based in Hamburg, Germany. The purpose of the deal is to grow the global distribution platform for both networks. Steadfast is the largest network of general insurance brokers in Australia and New Zealand and has 1,200+ offices across Australia, New Zealand, Asia and Europe. Many of its members also
The World Health Organisation (WHO) estimates that up to half a million people per year develop multidrug-resistant tuberculosis, presenting an increasing threat to global health, while cases of particularly resistant bacteria strains have increased 600-fold in the U.K. between 2003 and 2015. The rise of multidrug-resistant bacteria has been attributed to the overuse of antibiotics in medicine and farming, but a new study, published in May 2017 in the
FWD Group in May 2017 announced it had completed the acquisition of American International Group (AIG)’s Japanese subsidiary AIG Fuji Life Insurance Company. The acquired business intends to trade as FWD Fuji Life Insurance Company. It is to be led by current AIG Fuji Life CEO Norio Tomono, reporting to Huynh Thanh Phong, FWD Group’s CEO. AIG Fuji Life Insurance Company is the AIG Global Benefits Network partner in
As existing P/C captives expand to include employee benefits risks, often under the guidance of risk managers, understanding their concerns and challenges may prove useful for client relationship managers more accustomed to dealing with human resources departments. Risk managers face a growing confusion of challenges and new demands according to a Lockton survey of risk management professionals. The survey, presented officially at Lockton’s Complex Risk Symposium in mid-June 2017,
Alight, the former outsourcing business that Aon in February 2017 sold to private equity firm Blackstone, in June 2017 re-emerges as a standalone firm. Chris Michalak, CEO of Alight Solutions: “We are using this opportunity to ignite an entrepreneurial spirit and a culture focused on innovation to help companies and their people meet their rapidly changing benefits, HR and financial needs. […] we believe that businesses are powered by
Arthur J. Gallagher in June 2017 announced the acquisition of Ann Arbor, Michigan-based Armstrong/Robitaille/Riegle and Ann Arbor Business Advisors. Terms of the transaction were not disclosed. Brokerage Armstrong/Robitaille/Riegle offers employee benefits, retirement planning, life insurance and human resource consulting, as well as commercial and personal property/casualty coverages, to clients primarily in Michigan and in California. Ann Arbor Business Advisors provides retirement plan services for institutional clients. Laurie E. Riegle,
According to a global survey of insurance executives released in June 2017 by Earnix, a provider of analytics solutions for the financial services industry, there is wide adoption of Machine Learning by insurers across the globe, and expectation that machine learning will bring “significant” change to the industry over the next three to five years. According to Wikipedia, machine learning gives “computers the ability to learn without being explicitly
Arthur J. Gallagher in May 2017 announced the acquisition of Zuber Insurance Agency in Houston, Texas. Zuber Insurance, a full-service insurance agency offering employee benefits, commercial and personal property/casualty insurance, and life insurance in Texas, was founded in 1934 by J.L. Zuber. Alan Zuber and his associates will continue to operate from Houston. As far as employee benefits are concerned, they will report to Robby White, head of Gallagher’s South
Global insurance brokerage Hub International in June 2017 announced that it has acquired Brady Insurance Planning, an East Norwich, New York-based employee benefits advisor. Matthew Brady, the principal, will join Hub Northeast. Terms of the acquisition were not disclosed. Headquartered in Chicago, IL and with offices throughout North America, Hub International provides P&C, life and health, employee benefits, investment and risk management products and services. Only one day earlier,
Zurich Eurolife in June 2017 announced the acquisition of an existing book of international pension plans from AG2R La Mondiale’s (AG2R) Luxembourg-based subsidiary La Mondiale Europartner. The transaction is expected to close during the second half of 2017, after regulatory approval. The new agreement with La Mondiale Europartner will see their existing customers transfer to Zurich’s international pension plans. AG2R and Zurich have enjoyed close relationships for many years,
Shelly James in May 2017 joined Altair Global Relocation as Director Global Operations, based in Plano, Texas. Her previous positions include Member of the Board of Directors of the U.S. Council for Global Immigration; Global Mobility Program Manager, Americas Region for Hewlett-Packard; Senior Global Migration Advisor for Barry Appleman & Leiden; Manager of US Immigration Services for KPMG; HR Manager for DP Solutions; and Human Resource Assistant for American
International insurance brokerage and risk management services firm Arthur J. Gallagher in June 2017 announced the acquisition of Total Reward Group in Kent, England. Founded in 2005, Total Reward Group is a U.K. consultancy offering remuneration support, executive search, interim placement and corporate training for reward professionals throughout the world. Based in Kent, its consultants work with global brands, mid-size firms, public and third sector organizations across a range