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News for issue 001
IGP hosts its annual international employee benefits seminar in Boston, Massachusetts on September 29 and October 1st, 2015. The seminar includes a choice of up to 12 country panel presentations about local social security programs and customary private employee benefits practice, including legislative updates and recent trends and new products. An optional training program on multinational pooling and related issues is offered on September 28 pm. Registration fees start
In a August 5, 2015 press release, New York-based insurance brokerage Integro said it has reached an agreement to be acquired by PE firm Odyssey Investment Partners. Odyssey re-enters the insurance industry after previous investments in Montpelier Re, OneCall Medical and York Insurance Services.
Two years after joining AON France as its Global Benefits practice leader, Bruno Valette joins Mercer France as Client Relationship Director and Principal. Or, rather, rejoins, as Valette had spent 14 years with Mercer in Paris right before AON. Mercer was his first employer in the insurance sector from 1989 to 1997, to be followed by leading French broker Gras Savoye, soon to be a division of Willis –
After leaving Allianz Deutschland, Dr. Markus Riess has joined Ergo as CEO and Munich Re’s management board. Ergo is a wholly-owned subsidiary of Munich Re, which operates under the brand names Ergo, Victoria, DKV and others. Munich Re’s CEO Nikolaus von Bomhard has no known successor and has not announced any plans to retire, despite the fact that he will reach the mandatory retirement age of 60 in 2016.
Willis announced the acquisition of PMI Health Group, an independent healthcare adviser and broker in the U.K. The deal will raise Willis’s presence in the U.K. employee benefits and healthcare market, and enhance its product offerings and skills base.
Willis announced the appointment of Brian Shea as Head of Europe for Willis Capital Markets & Advisory, its insurance investment banking division, based in London, effective August 24, 2015. Brian joins from reinsurer SCOR, where he was Chief Corporate Strategy Officer after 20 years as an investment banker with Salomon Brothers and Merrill Lynch.
IGP welcomes Gothaer Lebensversicherung AG as their new Network Partner in Germany. Previously, Victoria Lebensversicherung -part of Ergo group and no longer in existence as a separate brand- was IGP’s German partner. Ergo Germany is no longer a member of a pooling network. Gothaer Germany remains a member of the new AIG network (formerly known as ING Global Network).
Aetna will acquire Humana for cash and stock valued at $37 billion. The acquisition will push Aetna’s Medicare Advantage membership to 4.4 million and make it possible for the two companies to share knowledge and innovations in order to create better healthcare products, the company said. The deal is subject to regulatory and other approvals; it is expected to be completed in late 2015.
Willis appointed Simon Weaver as CEO of its Singapore office, as well as to the newly-created role of regional CEO for South-East Asia.
AIG in early May 2015 announced that it has acquired a controlling stake in Brussels-based ING Employee Benefits Global Network and renamed it AIG Global Benefits Network (AIG GBN). AIG’s American General Life Insurance Company unit joined the pooling network as the new US partner, taking the place of ING USA, recently spun-off and renamed VOYA. VOYA, in turn, exits the US global employee benefits market in order to
Vittorio Zaniboni has been appointed in April 2015 as Chief Technical Officer at GEB. Based in Brussels, Vittorio has been with GEB since early 1998, first as an actuary, then reinsurance manager and as chief actuary since late 2006. He joined Generali in 1996 after graduating from Trieste University with an MSc in actuarial sciences.
GEB launched GEB Horizon Plan, an international retirement and savings product for its small and medium-sized corporate clients.
Willis confirmed that Steve Hearn, Deputy CEO, will leave to join Cooper Gay Swett & Crawford at the beginning of November, 2015.
Dr. Manfred Knof has become CEO of Allianz Deutschland, succeeding Dr. Markus Riess, who joins Ergo as CEO and Munich Re’s management board. Ergo is a wholly-owned subsidiary of Munich Re that operates under the brand names Ergo, Victoria, DKV, and others.
Willis announced in July 2015 the appointment of Cedric Luah as Asia Head of Human Capital and Benefits, to lead its Asia regional operations based in Singapore. Cedric joins Willis from the AIA group office in Hong Kong where he was responsible for multinational strategies, corporate clients relationships and multinational pooling. Prior to AIA, he spent seven years with the Swiss Life network, where he was the Head of Sales
Generali announced in June 2015 a reorganization of its corporate structure in the Central & Eastern European (CEE) region. Generali increased its ownership of Generali PPF Holding B.V. (GPH) to 100% by acquiring the remaining 24% minority share held by PPF Group, in line with the agreements signed on January 8, 2013. The holding company operating in Central-Eastern Europe changes its name to Generali CEE Holding B.V. The CEE
AIG USA launched a new product, AIG Home Protection, a voluntary employee benefit that covers out-of-pocket expenses related to repairing or replacing home appliances. Available to groups with at least 2,500 employees, it covers parts and labor for repairing or replacing mechanical and electrical failures on products within the home, up to USD 5000/year. The program is an interesting example of B2B2E (business-to-business-to-employee) marketing and of leveraging P/C capabilities
Since November 2014, Industrial Alliance is a network partner in Canada for Allianz Global Benefits Network. Industrial Alliance has operations in Canada and in the United States and offers group health, dental, optical, disability and life covers, as well as individual products. Industrial Alliance is listed on the Toronto Stock Exchange.
A new member of the AXA group, Mansard Insurance plc is the new Insurope network member in Nigeria. Mansard is a composite, generalist insurance carrier offering life and non-life insurance to individuals, corporations and institutions. Through subsidiaries, it also offers pensions, asset management and health maintenance solutions.
Mansard Insurance, a leader in the Nigerian employee benefits market, joins the MAXIS Global Benefits Network as a result of the acquisition by AXA of 100% of Assur African holdings, which holds a 77% stake in Mansard Insurance plc. Through this acquisition, AXA has become the #4 insurance player in Nigeria. Interestingly, Mansard announced its joining of the Insurope pooling network on May 29, 2015.
Margrit Schmid leaves Swiss Life. Her future position was unknown as of early May 2015. Margrit was the CEO of the Swiss Life pooling network and the head of Head Corporate Clients for Swiss Life International since June 2006. She had joined Swiss Life in 1998. Although no comment was offered upon her leaving, it is likely that the forthcoming relocation of Swiss Life’s global employee benefits operations to
Lockton hosts its Global Benefits Forum May 4 – 6, 2015 in Barcelona, Spain. This annual event brings together employee benefits professionals from around the globe interested in enhancing their international benefits acumen. The event provides continuing education credits for attendees with professional designations such as Global Professional in Human Resources.
Cigna in April 2015 named Javier Cano as managing director of its global healthcare benefits business in Europe. While he continues to be based in Madrid, Javier leads a team operating across Europe with three key operational hubs located in the U.K., Belgium, and Spain. He joined Cigna in 2006 as sales director, having been previously with Oliver Wyman (Marsh McLennan group). He holds an MBA from INSEAD and
On April 1, 2015, Generali appointed three new regional Chief Executive Officers: Jack Howell for Asia, Antonio Cassio dos Santos for the Americas, and Jaime Anchustegui for the EMEA region. Jack Howell, 44, a U.S. citizen, holds an MBA from the University of Chicago School of Business. Howell worked for AIG, where he held several positions including Deputy Chairman of Strategic Operations and Chairman and CEO of Philam Plans,