Swiss Life Network (SLN) in April 2018 announced a new internal structure with dedicated client relationship managers organized by geography. The international service desk led by Michael Gubser operates out of Luxembourg and is responsible for business analysis and network partners management, cooperating closely with the underwriting team. SLN is still strengthening its team in Luxembourg as nine positions were open as of late May 2018, according to the

AXA in May 2018 completed the initial public offering (IPO) of its U.S. individual life insurance unit, formerly known as The Equitable Life Assurance Society of America and based in New York, NY. Total proceeds are estimated at $4 billion. AXA had demutualized and recapitalized the failed U.S. mutual life insurance company, The Equitable, to the tune of $1 billion in July 1991. Back then, the company had $5.9

Generali’s Trieste, Italy-based mother company Assicurazioni Generali SpA in May 2018 announced it would set up a new branch in Luxembourg, dedicated to the global employee benefits business. It will operate as the insurance and reinsurance operation of Generali Group serving global companies and their employees from the multinational corporate as well as the international middle market segments. The Luxembourg branch also will be used as a base to

Where are the headquarters of the world’s eight pooling networks? Brussels used to be the location of choice for multinational pooling networks, owing to its status as (one of) the capital(s) of the European Union. It is still is home to three networks, but Luxembourg appears to gain traction as GEB in May 2018 followed Swiss Life in relocating there. Network City / Cities IGP Brussels BE, Boston MA

French life/health mutuals Humanis and AG2R La Mondiale in May 2018 announced they would merge their employee savings activities. French “employee savings” plans (“plans d’épargne salariale”) come under two guises, PEE  – Plan d’épargne entreprise (“corporate savings plans”) and PERCO – Plan d’épargne pour la retraite collectif (“group pension savings plan”), and are tax-advantaged, employer-sponsored investment vehicles run by, but legally separate from, insurance groups or banks. Tax advantages

Laurence Nicolet in May 2018 was promoted to Sales Manager at BNP Paribas Cardif Lux Vie in Luxembourg, in charge of developing the local market in Employee Benefits and in individual life. She previously was Business Development Manager, Employee Benefits at Cardif Luxembourg and had worked at Axa Assurance Vie Luxembourg and Swiss Life Luxembourg. Laurence is a graduate from HEC Liège (Belgium) business school.

Aon is reported to have made an offer to acquire French broker SIACI Saint Honoré (SSH). SSH caters to the needs of corporations and SMBs. Since 2015, SSH is controlled by venture capital firm Ardian which owns 57% of the firm. Managers control a further 23% and Edmond de Rothschild 20%. SSH chairman Pierre Donnersberg in late April 2018 denied any plans to sell. Instead, SSH is looking to

AIA Hong Kong in May 2018 announced a partnership with online health care services firm We Doctor. AIA’s customers will gain preferred access to WeDoctor’s healthcare services including appointment, online consultation and offline clinics, as well as its network of 2,700 hospitals, 220,000 doctors, and over 15,000 pharmacies in 30 provinces across China. AIA will become WeDoctor’s preferred provider of life and health insurance solutions. WeDoctor has over 110

Anbang Insurance’s founder and former chairman Wu Xiaohui in May 2018 was sentenced to 18 years in prison after being convicted of fraud in fundraising and of embezzlement by the Shanghai No. 1 Intermediate People’s Court. Anbang’s fast growth was driven by high-yield, investment-type insurance products with redemption options. Its asset management practices may have resulted in a duration mismatch between assets and liabilities. Wu in June 2017 was

Workforce Sustainability & the Death of HR – Paul Pittman Why Are We So Sleep Deprived? – Michael S. Jaffee Six Misconceptions About Meditation – Dusana Dorjee AIG GBN Conference Report

Aon in May 2018 announced that Eric Andersen, CEO of Aon Benfield, and Michael O’Connor, CEO of Aon Risk Solutions, have been appointed Co-Presidents of the firm; they will continue to report to CEO Greg Case. Aon also announced it will create an integrated global Operating Committee, co-led by Andersen and O’Connor. More Changes Further changes at Aon include the introduction of a single P&L structure “to increase colleague

Aon in May 2018 announced it will retire business unit brands Aon Risk Solutions and Aon Benfield, after the retirement of the Aon Hewitt brand in 2017. It will appear simply as Aon. In addition to the creation of an integrated global Operating Committee, the move is designed to make it easier for Aon team members to work together. The company previously announced a single P&L structure, “part of

Workforce Sustainability & the Death of HR Paul Pittman Why Are We So Sleep Deprived? Michael S. Jaffee Six Misconceptions About Meditation Dusana Dorjee AIG GBN Conference Report  

AIA Singapore and Medix in May 2018 announced an exclusive partnership to offer Personal Medical Case Management Services (PMCM) to AIA customers. The service is said to be the first of its kind in Singapore and will help customers facing serious medical conditions by making sure they get the right diagnosis as fast as possible, have access to optimal treatment, and are supported through their treatment journey until recovery.

Allianz in May 2018 finalized the sale of part of its Taiwan business’s traditional life insurance portfolio to China Life Insurance. The deal had been announced in January 2018. The portfolio includes around $1.4 billion of reserves in guaranteed interest contracts (GIC) that carry a 4 percent or higher guarantee. Under the Solvency II (S2) regime, GICs are particularly expensive in terms of capital requirement, especially when market rates

Willis Re in May 2018 appointed Franck Pinette as managing director of its Europe, Middle East and Africa life and health practice He joins WTW from Guy Carpenter (MMC) where he was the CEO of the European Life Business. Previously, Pinette worked for PartnerRe as MD of the Life Reinsurance Business Unit and began his career as Life reinsurance manager for Mutuelles du Mans Reassurance. He is a qualified

The AIG Global Benefits Network Annual Partners meeting was held on 14 September 2017, in Paris, France. The meeting focused on AIG’s global strategy, with extensive discussion on the effects of the global economy on the insurance industry.

ECA Italy in June and July 2018 organizes three training sessions for HR professionals, covering tax, benefits, employment law and immigration. The destinations addressed are Asia, the U.S., and the Balkans. The Asia session (China, Singapore, Hong Kong, Vietnam) is scheduled on 6 June 2018 from 09:30 to 17:00 U.S.A. session: June 20, 2018 from 09:30 to 13:30 Balkans session (Romania, Serbia, Bosnia, and Montenegro) – 4 July 2018

Meditation has been hailed as a way to boost mental health, help chronic pain, reduce stress and build a new appreciation for the world around us. But even with all this interest, misconceptions about what this ancient practice can do for human health and well-being are still circulating.

Many of us dread the loss of the hour’s sleep we incur by moving our clocks forward when daylight saving times comes back in Spring. For millions, the loss will be an added insult to the inadequate sleep they experience on a daily basis.

Anyone who follows trends in cinema will have noticed films for, and about, “baby boomers” that play to themes of memory. With HR profession at a crossroads, just like in one of those movies, I seem to remember having been here before!

U.S. surgeon general Jerome Adams in April 2018 urged employers to help in fighting the opioid epidemic. He was speaking at a conference sponsored by the National Business Group on Health (NBGH), an association of large employers. Adams estimates that 2.1 million people in the U.S. are struggling with an opioid-use condition. While these drugs can be helpful for a short time, they pose serious addiction risks. Common opioids include

MAXIS GBN in May 2018 published research revealing that three quarters (75%) of employee benefits professionals believe the enhanced use of data and the application of innovative technologies to improve the employee experience are the primary growth opportunities for the employee benefits sector globally over the next two years. The findings, from the inaugural MAXIS Global Perspectives report, reveal the majority of sector professionals are bullish about the opportunities

The Worldwide Broker Network (WBN) in April 2018 announced the election of three Board members, Susan Murphy from Canada, Matteo Scagliarini from Italy, and Markham McKnight from the U.S.A. Susan Murphy is President & CEO of Totten Insurance Group of Canada (a Hub International owned company), a national managing general agent focusing on niche and specialty products. She is a member of the WBN US and Canada Steering Committee.

WBN in April 2018 announced that global mobility specialist Globiana will join the network as its 11th Associate Member. Globiana helps multinational organizations train, guide and support their globally mobile employees and their families.  The company has a global footprint that spans over 140 countries, with offices in San Francisco, California and Stuttgart, Germany. The role of WBN’s Associate Members is to provide WBN Partner Companies with specialized support

Worldwide Broker Network (WBN) in April 2018 added three new members to its 112-strong network. All three firms focus on employee benefits; their addition is consistent with WBN’s strategy of enhancing its capabilities beyond its traditional P/C business. EBCG is based in Illinois and has four field offices across the U.S. It focuses on employee benefits. GBS Benefits is based in Utah, with seven other U.S. offices. It offers

Global Foreign Direct Investments (FDI) flows decreased by 18% to USD 1 411 billion in 2017 compared to 2016. This represents 1.8% of global GDP, compared to 2.3% in 2016 and 2.5% in in 2015. The drop in FDI reflects a drop in financial and corporate restructuring, possibly as a result of U.S. tax reform, which decreased incentive to engage in those types of transactions in 2017. The US