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_Issue030

UNCTAD in June 2018 released a simulation of the impact of an all-out trade war on tariffs based on classical economic theory as validated by past observations. UNCTAD stands for United Nations Conference on Trade And Development. According to the report, the U.S. would impose average tariffs of 30% (vs. 7% now); the E.U. would increase its own average tariffs from 3% to 35%; Canada from 3% to 53%;

RSA Insurance Group in June 2018 said it received regulatory approval for its new insurance subsidiary in Luxembourg from the Commissariat aux Assurances (CAA). RSA, a P/C carrier, previously operated outside of the UK by way of an EU branch, focusing on large commercial clients. It writes approximately £350m in GWP and has over 5000 commercial policyholders including the UK. Richard Turner, who currently oversees EU business from the UK

OECD, the Organization for Economic Cooperation and Development, in June 2018 issued a new report, A Broken Social Elevator? How to Promote Social Mobility, that provides new facts on social mobility in the context of increased inequalities of income and opportunities in OECD and selected emerging economies. It looks at the issue across and within generations, in income, education, health and occupation, and at how these are linked to

AXA in June 2018 announced it had sold its UK whole-of-market intermediary, The Health Insurance Group (THIG), to U.S. private equity firms Highbridge Principal Strategies and Madison Dearborn Partners. Acquired by AXA in 2008, The Health Insurance Group provides individual and corporate health and well-being products. Highbridge Principal Strategies and Madison Dearborn Partners already own several UK broking brands, including The Ardonagh Group. A “whole of market intermediary” is

CVS Health and Aetna in June 2018 announced their post-merger leadership team. Aetna President Karen Lynch will stay on as executive vice president of CVS and president of the Aetna business unit. Richard di Benedetto will continue in his current role as president of Aetna International. Shawn Guertin, Aetna’s CFO and chief enterprise risk officer, will become executive vice president and CFO of CVS. Fran Soistman, executive vice president

Global foreign direct investment (FDI) flows fell by 23% in 2017, to $1.4 trillion from $1.9 trillion in 2016, according to UNCTAD’s World Investment Report 2018 that was released in June 2018. The decline contrasts with other macroeconomic variables, which saw substantial improvement in 2017. The global fall was caused in part by a 22% decrease in the value of cross-border mergers and acquisitions (M&As). But even discounting the