Francoise Ah-Kuit in January 2019 joined cosmetics distributor Sephora (a member of LVMH Group) as Global Compensation & Benefits Project Director. She is based in Paris, France. She joins Sephora from Van Cleef & Arpels where she was International Compensation & Benefits Director. Earlier, she was Compensation and Benefits Manager at Moët Hennessy, and an MBA Intern in International Benefits & Mobility Management at Louis Vuitton. Previously, she was
American International Group (AIG) in January 2019 named Edward Levin global head of accident and health (A&H), general insurance. He is based in London, UK, and reports to Christopher Townsend, CEO of AIG International General Insurance. Levin joins AIG from Chubb where he served most recently as Group Digital Business Officer, and earlier as Division President of International A&H. Previously he spent four years at ACE Europe as Executive
Zurich UK in January 2019 announced it was backing London, UK-based travel insurance startup Pluto. Pluto targets Millennials, an under-insured segment when it comes to travel insurance, with up to 60% of them traveling without insurance. The underwriting engine blocks people over the age of 46. Zurich provides underwriting and claims management; Pluto brings mobile-oriented software that gives clients a standard insurance quote in around one minute, or three
Chubb in January 2019 named Glen Browne as deputy regional president for Asia-Pacific and division president for Southeast Asia. He is based in Singapore and report to Paul McNamee, SVP and regional president, Asia-Pacific. Browne is in charge of Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam. He retains his current role of regional head of accident & health for Asia-Pacific. Prior to his current position, he served at ACE,
The Aon Benefits and Trends Survey 2019 published in January 2019 says that 97% of UK employers agree that employees’ expectations of their experience in the workplace are changing, and that employees’ top priorities now include flexible working hours, agile working, mental health, diversity and inclusion, and parental leave. The survey asks questions of over 200 UK employers of all sizes who work across a broad range of sectors.
Sheldon Kenton in January 2019 was appointed President and CEO of iPMI insurance carrier GeoBlue. He replaces Diego Fernandez, President and CEO since September 2018, and who himself succeeded Guillaume Deybach. GeoBlue is the iPMI (international private medical insurance) joint-venture between BlueCross – BlueShield (U.S.A.) and BUPA (UK). In addition to his responsibility at GeoBlue, Kenton will continue setting BUPA Global’s overall strategic direction. He previously was BUPA Global’s
The Organization for Economic Cooperation and Development (OECD) in January 2019 published a new report revealing that public social spending in OECD countries was just above 20% of GDP on average in 2018. Public spending on areas such as pensions, healthcare, and unemployment benefits was highest in France (31.2%), Belgium (28.9%) and Denmark (28.7%) and lowest in Mexico (7.5%), Chile (10.9%) and Korea (11.1%). Pensions spending is the biggest
APRIL International Care, the international private medical insurance (iPMI) division of APRIL Group, in January 2019 launched the MyHealth France product, an iPMI policy designed to meet the needs of expatriates living in France in both the pre and post Brexit era. France is now home to 1.3 million expatriates of all nationalities, with that figure expected to rise to 1.5 million within the next two years. UK nationals
Grab, a Singapore-based competitor to Uber present also in the Philippines and in Malaysia, in January 2019 announced it would sell insurance through its smartphone app. Grab will open up its ride-hailing app as a platform for direct distribution of insurance policies. The new capability is provided by Chinese partner ZhongAn Online P&C Insurance. The first insurance carrier to join the program is Chubb, with a loss of income
Adam Winslow in January 2019 was elected Chairman of the Board of the AIG Global Benefits Network (AIG GBN) pooling network, succeeding Frank Schmid who remains a member of the Board while assuming new responsibilities within AIG. Adam in June 2018 became CEO, International Life and Retirement at AIG, a position he retains. Earlier, Adam held positions at AIG in France, South Africa, and the UK, both in life
French social protection group (SPG) Malakoff Médéric Humanis (MMH) in January 2019 arose from the merger of the two former Malakoff-Médéric and Humanis SPGs. As the new French market leader in group life and health insurance (market share 17%), MMH has 426,000 corporate clients with 10 million people insured. Furthermore, it is the recommended employee benefits provider for 93 professional sectors, a significant competitive advantage. In pensions, MMH has
In mid-January 2019 the UK Parliament rejected the proposed European Union (EU)-UK agreement that provided for a more or less orderly Brexit. Two months ahead of the deadline, the British government is expected to further push for an approval of the agreement, but a disorderly separation may now be the most likely scenario. Accordingly, EU nations are getting ready to minimize expected disruptions. The European Commission, in December 2019, published
Global Benefits Vision: What is your role in your company and what is your background? Chris Burns: I am a Partner at EBCG LLC. We are a national and global employee benefits consulting firm. For over 25 years, our team of consultants has helped companies unlock hidden value in their programs. With 5 offices across the U.S., we work with both large and mid-sized companies. We are also a member of the Worldwide Broker Network (WBN), which allows us to assist our clients in over 100 countries around the world.
Global Benefits Vision: Now that Brexit seems to be upon us, let’s talk about how you see it impacting Lockton and the insurance world in general. Ian Cooper: It has been quite fascinating. Insurance providers, as we know, within the single market, can passport regulatory permissions and trade across Europe.
It is important for German companies to position themselves as attractive employer brands, especially when competing for young talent in the job market. In today’s tight job market, factors that once promised reliable success in attracting new employees – remuneration, the number of leave days, pensions, company cars – are no longer the only things younger generations are looking for. Instead, non-monetary issues such as work-life balance, working atmosphere, and identification are of prime concern. These are the issues that companies should be projecting in their branding and benefits strategies.
Global Benefits Vision: Thanks for joining us today, Marco – it’s good to have you back. What is your definition of insurtech? Marco Giacomelli: Insurtech is a specialized evolution or byproduct of fintech, which is a combination of the words “finance” and “technology.” As a practical definition, we can say that insurtech is sets of strategic initiatives, specific tools, and processes designed to achieve savings and efficiencies in all insurance processes.
Lockton’s yearly Forum distinctive format includes three regional editions in North America, Asia, and in Europe. Most of the contents is common across all editions with some variations in respect of regional issues.
A measles vaccine protects against measles infection. By introducing a bit of weakened virus, the immune system learns how to deal with it, so when a real measles virus comes along, it can eliminate it. But does the immune system learn more from the vaccine? Recent research suggests, rather intriguingly, that it does.
Sulaxmi Prasad in January 2019 joined Herbalife as Director of compensation & benefits (C&B) and human resources information systems (HRIS) for the APAC & China region at Herbalife. She is based in Kuala Lumpur, Malaysia. Previously, she worked for Digi Telecommunications in Malaysia as Head of Performance, Rewards and Analytics, then as Head of Talent and Rewards. Earlier, she was a Practice Leader with Willis Towers Watson in Kuala
Here is the list of the 30 French insurance carriers by assets under management (AUM) as of 31 December 2017, the most recent data available. Numbers include individual and group life; health, life, and pension products; and unit-linked as well as guaranteed savings products. Companies with the “B” marker are bancassurance players, owned by a banking group and mainly distributed through bank agencies. # Name AUM (in m€)
The European Association of Paritarian Institutions (AEIP); pension funds PFZW and PGGM from the Netherlands; the Finnish Pension Alliance TELA from Finland; and social protection group Humanis from France on January 24, 2019 organize a conference on the topic of “Retire Vitally” in the European Union. To kick off forthcoming discussions on “vital retirement”, i.e. retirement in a state of good health, the conference will analyze the current situation; discuss
French insurance group Apicil in January 2019 announced it has completed the acquisition of Luxembourg life insurance company OneLife. Luxembourg regulator CAA has granted its approval. OneLife has more than €5.2 billion in assets under management and employs more than 150 staff across Europe. It focuses on wealth management and asset management services to ultra-high-net-worth (UHNW), high-net-worth (HNW) and highly affluent clients. Apicil, the fourth largest social protection group
Bermuda-based Athora Holdings in January 2019 completed the acquisition of Generali Belgium, first announced in April 2018. The final consideration paid is approximately €540 million. Generali Belgium has 530,000 customers and sells a range of life and non-life insurance policies through around 1,000 independent brokers. In 2017, total premium income amounted to €640 million and assets to €6.5 billion. The company will be rebranded to Athora Belgium in the
Hong Kong-based property and infrastructure group New World Development (NWD) in January 2019 acquired FTLife Insurance, Hong Kong, from JD Group. NWD, through its subsidiary NWS Holdings, paid HK$21.5 billion (US$2.75 billion) for FTLife. The deal is one of the top five insurance M&As ever in Hong Kong. Beijing-based Chinese financial firm JD Group in November 2018 had put FTLife up for sale. It was reported to be looking for
Replicating an earlier deal in 2017 between the European Union (E.U.) and the United States (U.S.), the latter in January 2019 signed a “covered agreement” with the United Kingdom (UK) that protects their respective international insurers and reinsurers when doing business with each other. The new covered agreement basically provides for a limited but very useful form of mutual recognition of reinsurance companies and of (re)insurance regulators. The existing
American International Group (AIG) in December 2018 announced that it has completed the acquisition of Ellipse, a specialist group life, critical illness and income protection carrier in the UK, from Munich Re. Ellipse CEO Lee Lovett reports to Adam Winslow, CEO, International at AIG Life & Retirement. AIG expects Ellipse’s expertise in group protection and its technology to significantly enhance existing AIG Life operations. AIG Life will now distribute
AIG Life Limited (UK) in December 2018 announced the appointment of Philip Willcock as CEO, effective March 1, 2019. He will be based in London and report to Adam Winslow, CEO, International, Life & Retirement. Willcock spent over 20 years with Aviva holding various senior positions in the UK life & health businesses. Most recently, he was CEO and President of Aviva’s joint venture in Indonesia and CEO of