• Zurich Insurance in January 2022 announced the sale of an Italian life and pension portfolio to Portuguese carrier GamaLife – Companhia de Seguros de Vida. The stated purpose is to reduce Zurich’s solvency requirements and free up capital. The amount of the transaction has not been disclosed, but the press release states that the Solvency Capital Requirement under Swiss solvency rules will “decrease by approximately $1.2 billion.” and that
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    Global actuarial and consulting firm Milliman in January 2022 announced the appointment of Dermot Corry as its new chief executive officer, effective 1 January 2022. Corry, who is the first professional from outside the United States to be elected Milliman’s CEO, succeeds Stephen White, who is retiring. Corry currently is a Principal of Milliman’s Dublin, Ireland office and has served as the firm’s global life and financial services practice
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    A member of the “YES” project, German insurance carrier SOKA-Bau on 18 January 2022 organizes an online workshop about the “Challenges of Posting in the Construction Industry”. SOKA-Bau is the umbrella brand of two paritarian institutions serving the construction industry: the Vacation and Wage Compensation Fund of the Construction Industry (Urlaubs- und Lohnausgleichskasse der Bauwirtschaft, ULAK) and the Supplementary Pension Fund of the Construction Industry (Zusatzversorgungskasse des Baugewerbes, ZVK).
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    The Worldwide Broker Network (WBN) in December 2021 announced the appointment of Alan Fergusson as Global Employee Benefits Practice Leader, reporting to CEO Olga Collins. Fergusson has over 20 years of experience in the employee benefits sector. Prior to this appointment, Alan has been a consultant for WBN and has been associated with the network since 2012 evolving the E.B. strategy and participating on the Board of Directors from
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    The Organization for Economic Cooperation and Development (OECD) in January 2022 published its November 2021 inflation figures, showing the highest rate in 25 years. In fact, inflation in the OECD area surged to 5.8% in the 12 months to November 2021, compared with 5.2% in October, and just 1.2% in November 2020, reaching the highest rate since May 1996. The rise was particularly marked in the United States, where
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    Willis Towers Watson in January 2022 announced it had changed its brand name to WTW. In France, WTW will drop the well-known Gras Savoye brand name in favor of WTW. Willis had acquired Gras-Savoye in 2015. Furthermore, WTW’s ticker symbol on the NASDAQ stock market will change to “WTW” instead of “WLTW”. These changes occur in the wake of WTW’s failed acquisition by Aon “as [the company now moves]
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