Failed Cigna-Humana merger: what is happening post withdrawal?
In a significant turn of events, Cigna Group has ceased its efforts to merge with fellow health-insurance provider Humana. Initially poised to form a colossal entity valued at approximately $140 billion, the deal’s dissolution arose primarily due to disagreements over financial terms. Despite prior discussions hinting at a possible closure by year’s end, the proposed cash-and-stock transaction faced skepticism, particularly concerning the use of Cigna’s stock as a part
2023 CIGNA Vitality Metrics Report: Gen Z’s Challenges & Workforce Dynamics in Health and Well-being
The comprehensive analysis of the “Vitality in America” study, commissioned by The Cigna Group, reveals crucial insights into the state of vitality among Generation Z and other American adults. This study, conducted in June 2023, surveyed 10,000 adults and used the Evernorth Vitality Index (EVI) to measure health and well-being across eight dimensions: emotional, environmental, financial, intellectual, occupational, physical, social, and spiritual. Generation Z’s Vitality Metrics Mental Health Challenges
IBM’s Pension Plan Overhaul: Back to the future?
In a landmark move, IBM has redefined its retirement strategy, signaling a potential trend for corporate America. Our analysis reveals IBM’s pivot from traditional pension accruals to a novel approach, blending cash balance benefits with a pay increase and pay credit system. This shift, executed amid a climate of peak pension fund health, showcases IBM’s innovative use of surplus assets for future benefits. The new scheme phases out the
Enel Spearheads Onshore Captive Insurance in Italy
In a landmark move for the Italian insurance sector, energy giant Enel has confirmed the establishment of its first onshore captive insurance company, set to commence operations on January 1, 2024. This strategic decision involves merging Enel Insurance NV, currently based in the Netherlands, into this innovative Italian reinsurance captive. This pivotal step reflects a growing confidence among major Italian corporations in the evolving regulatory landscape, particularly with the
Swiss Life Reveals Key Board Transitions Scheduled for 2024
Swiss Life, a prominent player in the life insurance and financial services sector, has unveiled pivotal transitions within its Group Executive Board slated for 2024. After an 18-year tenure, including a decade as the Group CEO, Patrick Frost is set to resign from his role, making way for Matthias Aellig, the incumbent Group CFO, to ascend as the new Group CEO from 16 May 2024. Reflecting on his decision,
Shift in Global Medical Costs: insights from the WTW 2024 Global Medical Trends Survey
The landscape of global medical expenses is undergoing significant changes. The WTW 2024 Global Medical Trends Survey, encompassing insights from 266 insurers across 66 countries, provides critical data on these shifts. This comprehensive study highlights key trends in medical costs, including a projected near double-digit increase in 2024, albeit a decline from the 2023 highs. Let’s delve into the factors influencing these trends and their implications. Decline in Medical
2023 OECD Unemployment Rate Insights: Stability and Youth Challenges
GBV summary and Key Findings Stability in Unemployment Rate: The OECD unemployment rate remained stable at 4.8% in September 2023, consistently staying below 5.0% since July 2022. This period saw an increase in the number of unemployed persons in the OECD, reaching 33.3 million, with a notable rise in unemployed men. Category-wise Stability and Youth Unemployment Concerns: Unemployment rates were broadly stable across all defined categories: men, women, youth
Potential Mega-Merger: Cigna and Humana Eye Transformative Health Insurance Union
In a move that could reshape the health insurance landscape, industry giants Cigna and Humana are reportedly in advanced discussions for a monumental merger. This deal, valued at an estimated $140 billion, is poised to create a new leader in the health insurance sector. We delve into the implications of this potential merger and how it could redefine competitive dynamics in the industry. The Merger: A Strategic Game-Changer Cigna
2023 OECD Inflation Trends: Easing Headlines, Food, and Energy Dynamics
GBV’s Summary of OECD Consumer Price Index and Headline Inflation Rates Report – November 2023 Key Findings: General Trend of Inflation: The OECD headline inflation eased slightly to 6.2% in September 2023, down from 6.4% in August. This change follows previous increases in July and August. Inflation decreased in 27 OECD countries but rose in 8, including significant rises in Spain, Costa Rica, Slovenia, and Türkiye. Notably, Türkiye, Hungary,
2024 Workplace Trends: Flexibility, Skill-Building, and Employee Satisfaction
The O.C. Tanner 2024 Global Culture Report provides insightful data and perspectives on workplace culture and the evolving employee-employer relationship. Here’s GBV’s comprehensive summary focusing on the changes in these areas: Workplace Flexibility Increasing Flexibility and Fairness: The report highlights a trend towards more flexible work environments, emphasizing the need to make this flexibility equitable across different roles. Employee Expectations and Benefits of Flexibility: Employees are not necessarily seeking
Empowering the Workforce of 2030 through Personalization, Wellbeing, and Technological Innovation
Zurich Integrated Benefits‘ new report “The Future of Employee Benefits: 2030”, provides an insightful analysis of the evolving nature of work and its implications for employee benefits. The report outlines five key pillars that are shaping the future of employee benefits. These include Personalization, Wellbeing, Empowerment, Impact, and Technology. Each pillar is accompanied by micro-trends and scenarios demonstrating their application in the future workplace. The analysis focuses on these
European Retirement Week: Monday 27 November 2023, Brussels
The third iteration of the European Retirement Week will commence with a live inauguration on Monday, November 27th. This notable 2023 Retirement calendar event is set to feature prominent keynote addresses from influential figures, including Fausto Parente, the Executive Director of EIOPA; Frances Fitzgerald, Member of the European Parliament; Katarina Ivanković Knežević, the European Commission’s Director of Social Rights and Inclusion from DG EMPL; and Didier Millerot, leading the
Milliman’s recent Global Pension Risk Transfer Market Outlook 2023 Analysed
The report titled “Global Pension Risk Transfer Market Outlook” by Milliman, dated November 3, 2023, provides a comprehensive analysis of the Pension Risk Transfer (PRT) markets, focusing on key territories such as the United Kingdom, the United States, the Netherlands, and Ireland. The report outlines the global landscape of Defined Benefit (DB) pension schemes and their interaction with the PRT market. It emphasizes the importance of stakeholders understanding the
Harnessing Data for Health and Wellness: 4 Part Framework
The Imperative of Systematic Health Tracking in the Workplace In today’s fast-paced corporate environment, the health and wellbeing of employees are often overlooked. Most companies focus on direct expenses or liability exposure, such as disability claims and on-the-job injuries, neglecting the broader spectrum of employee health. This narrow focus leaves a significant gap in understanding and improving the overall health of the workforce. To address this, a systematic approach
The Hidden Impact of Financial Stress on Employees: 2023 Survey
The research report “The Cost of Money Worries – 2023 Survey Results” presents compelling data on the impact of financial stress on employees in the UK. The survey, conducted by Opinion Matters, involved 1,019 full-time UK workers and reveals significant findings about the intersection of financial wellbeing and workplace productivity. Key Findings: 23% of UK full-time workers struggled to concentrate at work due to money worries. 16% incurred debts
Household Income Growth Outpaces GDP in OECD Nations
In the first quarter of 2023, the Organisation for Economic Co-operation and Development (OECD) reported a notable rise in real household income per capita, marking a 0.9% increase and surpassing the growth in real GDP per capita, which stood at 0.3%. This recent uptick is not an isolated event but part of a continuing trend, representing the third consecutive quarter of growth and the most significant quarterly rise since
OECD’s “Health at a Glance 2023” reports on the State of Global Health Systems
OECD Indicators Reveal Trends in Health Spending, Digital Health, and Systemic Transformation The Organisation for Economic Co-operation and Development (OECD) has released its “Health at a Glance 2023” report, offering a critical analysis of health system performance and health indicators across member and partner countries. Health Spending: A Global Perspective The report notes that in 2019, before the pandemic, OECD countries spent an average of 8.8% of their GDP
Strategic Consolidation in Global Insurance Brokerage Market: M&A Trends in 2023
The 2023 report entitled “Consolidation in the Global Insurance Brokerage Market: How to Create Value Executing a Consolidation Strategy” provides a comprehensive analysis of the consolidation trends within the global insurance brokerage sector. The report delves into the dynamics of the market, the drivers behind consolidation, and the opportunities and challenges that come with it. Market Overview and Growth Projections The author Alvarez & Marsal, provides a detailed analysis
End of Remote Work? Top CEOs Weigh In
The global health crisis dramatically transformed how we operate, pushing numerous companies into a remote working model, while others adopted a blend, known as the hybrid model. Recent statistics from Pew Research Center indicate that 35% of employees capable of remote tasks are sticking to a fully remote routine, and 41% are following a hybrid schedule. Yet, as the dust settles post-COVID-19, many corporates like Zoom and Meta are
Humana Leadership Transition: Broussard to Pass Baton to Rechtin in 2024
In an anticipated leadership shake-up, Bruce Broussard, Humana‘s CEO with over a decade at the helm, will relinquish his role as the head of the insurance giant known for its brands like CenterWell in home health, pharmacy, and primary care domains. Taking his place, starting January 8, 2024, will be Jim Rechtin, who currently leads Envision Healthcare. This transition will see Rechtin collaborating closely with Broussard until the second
Ashley Wolff named as AVP Gallagher Multinational Benefits and HR Consulting
With over 16 years of dedicated service at Gallagher, Ashley Wolff has showcased a trajectory of consistent growth and leadership. Her recent appointment as the Area Vice President for Multinational Benefits and HR Consulting in the South Central Region, showcases Ashley’s expertise lies in optimizing sales operations. Her tenure at Gallagher has seen her wear multiple hats – from being a Sales Enablement Leader for various regions, including the
Profit-Sharing, Business Dynamics, and Employee Compensation
In the ever-evolving landscape of global economics, the concept of wealth distribution has taken center stage. One policy that has garnered attention is profit-sharing, especially in its mandatory form. The research paper titled “The Effects of Mandatory Profit-Sharing on Workers and Firms: Evidence from France” by Elio Nimier-David, David Sraer, and David Thesmar offers a deep dive into this subject. Let’s unpack their findings. Historical Background of Profit-Sharing in
Allianz Partners Teams Up with bolttech for Enhanced Device Protection
Leading B2B2C insurance provider, Allianz Partners, joins forces with global insurtech giant, bolttech, to introduce advanced device and appliance insurance in the Asia Pacific and the US. This strategic alliance leverages the unique strengths of both companies, aiming to seamlessly integrate insurance offerings during customer interactions. This collaboration will offer integrated solutions for businesses like e-commerce platforms, telecom providers, banks, insurers, and OEMs. The goal? Simplifying the process for
Labour Market Flourishes: Record Highs in OECD Employment and Participation Rates
In recent years, the global employment landscape has seen a myriad of ups and downs. However, the Organisation for Economic Co-operation and Development (OECD) countries have emerged as beacons of hope and resilience in the global labour arena. The most recent data for the second quarter of 2023 confirms this trend, showcasing record-breaking numbers in both employment and labour force participation rates. Soaring OECD Rates As of the second
Digital Advances Prompt Insurance Sector Evolution
The insurance realm is undergoing a transformative phase, spurred by digital advancements. These digital shifts not only pave the way for innovative growth and efficiencies but also introduce new risk dimensions. A notable outcome of this digital evolution is the surge in companies’ intangible assets, particularly digital data. However, this digital reliance also exposes these assets to threats like cyberattacks and business disruptions. Swiss Re Institute‘s recent sigma study,
Marsh McLennan Appoints Pat Tomlinson as Mercer’s New President
Leading global professional services company, Marsh McLennan (NYSE: MMC), specializing in risk, strategy, and human capital, has announced the appointment of Pat Tomlinson as the new President of Mercer. Mercer, a pivotal arm of Marsh McLennan, focuses on revolutionizing the work landscape, optimizing retirement and investment results, and promoting genuine health and well-being. Martine Ferland will continue her role as Mercer’s CEO and Marsh McLennan’s Vice Chair, supervising Mercer’s
Bharti Set to Acquire AXA’s Share in Partnership
Bharti Life Ventures is on track to secure full ownership of Bharti AXA Life Insurance Company. On Wednesday, Bharti Group announced a definitive agreement to purchase AXA’s 49% share in the life insurance entity. This move follows the 2020 decision by Bharti and AXA to integrate Bharti AXA General Insurance with ICICI Lombard and AXA’s subsequent departure from ICICI Lombard’s shareholder list. The deal is anticipated to finalize by