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

Aon plc, a global professional services firm, has recently released its 2022-2023 Global Wellbeing Survey, shedding light on significant disparities in employee well being risks between the UK and other regions. The survey, conducted in collaboration with IPSOS, gathered insights from HR and reward leaders across 46 countries and various industries. Here’s an overview of the key findings and their implications. Mental Health and Burnout Take Center Stage Mental

In a strategic move to streamline its operations, German airline Lufthansa is reportedly considering the sale of its in-house insurer Delvag and insurance broker Albatros attracting significant attention in the aviation industry and financial markets. Lufthansa’s decision to explore the sale of these insurance subsidiaries comes as part of the company’s ongoing efforts to focus on its core aviation business. By divesting these non-core assets, the airline aims to

Paolo Marchiori has been named as the first Country Manager for Spain, Portugal, and Italy by Generali Employee Benefits (GEB) in July 2023. A veteran of Generali, Paolo started his career at Generali in 2005 as a Pool Captive Administrator and over the past 18 years has been across the globe: his experience ranges from being Area Manager Eastern Region USA/Canada, to Regional Business Development Manager Southern Europe and

The latest report from the OECD reveals that in the second quarter of 2023, the Gross Domestic Product (GDP) of its member countries experienced a moderate growth of 0.4% on a quarter-on-quarter basis. This increase, while positive, represents a slight deceleration compared to previous quarters. Despite this, some individual member states demonstrated notable growth in this period. For instance, Japan’s GDP surged by 1.5%, a significant improvement from the

G20 merchandise trade faced a contraction in value during the second quarter of 2023, when compared to the previous quarter, measured in current US dollars. Both exports and imports experienced declines of 3.1% and 2.0% respectively. This decline can be attributed to subdued global demand and the decreasing prices of commodities, especially energy products. The drop in energy prices had a significant impact on North America’s trade value, leading

In an era defined by remote work and boundless connectivity, the rise of digital nomads has transformed the way people work and live. These globe-trotting individuals leverage technology to work from anywhere, embracing a lifestyle that offers freedom and exploration. However, with this freedom comes the need for a safety net that ensures their well-being and financial security, and this is where digital insurance steps in. Digital nomads are

Zurich Global Employee Benefits Solutions (ZGEBS) has made a groundbreaking announcement by launching an ‘Underwriting Year’ customer reporting capability. This move comes in response to increasing customer demand, showcasing ZGEBS’s commitment to innovation. As a part of Zurich Insurance Company Ltd.’s business unit Zurich Integrated Benefits, ZGEBS is positioned to provide comprehensive expertise in employee benefits globally. The newly introduced ‘Underwriting Year’ information empowers global employee benefit customers to

Global brokers Aon and Willis Towers Watson (WTW) in July 2021 announced they had mutually agreed to terminate their combination agreement after the U.S. Department of Justice (DOJ) filed an antitrust lawsuit against the $30bn deal. Aon also announced the extension of employment agreements for CEO Greg Case and CFO Christa Davies to April 1st, 2026, in a move to reassure financial markets. The merger was announced in early

Why a harmonious collaboration with Employee Benefits Providers can be advantageous for International Companies A long-term perspective is key In today‘s world of fast flows of information and increased striving for transparency, it became natural to source products and services from distant markets and change providers/vendors regularly. Often the main reason for repeated changes of providers is price. While in many moments in private and business life providers are

Global benefits network IGP (International Group Program) in July 2021 announced the appointment of Marco Giacomelli as its new Head, replacing Peter de Vries who retires after a long and distinguished career in multinational pooling. Marco joins from iPMI carrier Generali Global Health where he served as CEO. He previously was with Generali Employee Benefits (GEB), serving as Chief Insurance Officer, Chief Operating Officer, and earlier as Technical Director;

In the previous articles of this series, we examined the importance of gaining control over employee benefits (EB) costs and management. As a foundation for action, the Head Office should consider its data acquisition and evaluation. In practice, this is much more complicated than it sounds. The biggest challenge is that EB data flows from different sources (Benefits Networks, insurers, brokers, TPAs, accountants etc.) to subsidiaries and then to

Multinational pooling network IGP in May 2021 announced a new partner in Cambodia, Sovannaphum Life Assurance. Sovannaphum Life Assurance (SVL) is a joint venture between Canadia Investment Holding, the owner of Canadia Bank, and Muang Thai Life Assurance, IGP’s partner in Thailand. The company was granted full license as a life insurance Company by Ministry of Economy and Finance of Cambodia in December 2015 and started operations in 2016.

A group of nine European associations in June 2021 announced the launch of European Retirement Week, which will take place during the week of 29 November 2021. The goal of this initiative is to provide a platform for a wide range of stakeholders to debate the future of pensions in Europe and to raise citizens’ awareness of the need to save for retirement. Achieving pension adequacy is indeed crucial

In our previous article in this series (see Part I here) we examined a case in the Netherlands that demonstrates how the head office of an organization can help subsidiaries with an international approach. We will now analyse another example in which an international solution added value to local employee benefits (EB) provision. Maintaining the example of the German Group, we are assessing a subsidiary located in the United

Swiss Re in June 2021 published a new edition of its SONAR research report under the title “New Emerging Risks Insights”. The report addresses the threats that will shape the future post-COVID-19 risk landscape. They range from the unintended consequences of government interventions through to the dangers of restarting under-maintained industrial facilities. The key issues addressed include: COVID-19 to worsen income inequality; growth in the global middle class slowed