Chicago-based global insurance brokerage Hub International in November 2017 announced that it has acquired the assets of the Burlington, Vermont-based Summit Financial Corporation and Summit Financial Insurance Agency. Summit’s leadership team and staff will continue to operate out of Summit’s existing offices and will report to Charles Brophy, President and CEO, Regional President, Hub International US East. Summit, founded by Joe Bonasera and Brian Babcock, is one of New

Aetna International has announced the launch of Access US, a product aimed at helping any non-US headquartered company that currently has, or is hiring, American citizens based in the USA. The Access US Plans are an ideal fit for companies with geographically dispersed employees located in the US. They are an ACA-compliant (Obamacare-compliant) medical product designed for organizations with 50 or more total employees worldwide and allow US companies

Lockton in November 2017 added six new hires to its U.K. domestic and global employee benefits teams. Michael Gillan joins Lockton as Associate Benefits Consultant. Michael joins Lockton from Ombudsman Services where he worked as Investigation Officer. Prior to this, Michael spent four years as Group Risk Scheme Underwriter at Friends Life/Aviva. Michael joins the Manchester team to add additional risk expertise to Lockton’s growing portfolio of SME clients.

EY in November 2017 announced a partnership with Concur to develop services that help global business travelers manage tax and immigration compliance risks via Concur’s App Center. The integrated offering will capture relevant travel and business activity data within Concur. Using EY tax and immigration technology, the integration will analyze Concur data to make real-time assessments of a business traveler’s tax and immigration obligations before they travel. Corporate users

KPMG and global provider of Human Capital Management (HCM) solutions ADP in November 2017 joined forces to help multinational companies better manage employees who need to relocate from one country to another. By combining KPMG’s Global Mobility Services (GMS) practice, including its proprietary LINK Enterprise technology platform, with the ADP Global Payroll solution, the two companies can provide multinational companies with an integrated approach to managing payrolls and reporting

Japanese insurer Sompo in November 2017 announced it would set up its new European headquarters in Luxembourg in the wake of Brexit, citing in particular the potential loss of E.U. passporting right and looming uncertainty. The new entity, SI Insurance Europe, is to be owned by Bermuda-based Sompo International Holdings and will offer both insurance and reinsurance. Sompo is mainly a specialty provider of property and casualty insurance. The

AXA Group is simplifying its operating model, empowering its entities to operate closer to their customers. In order to accomplish this, AXA will shift from its current, three-layer model of separate head office, global business lines, and regional headquarters, to a refocused corporate center that will oversee five geographies (France, Europe, the U.S., Asia, and International). Concurrently managed with the five geographies will be key transversal entities AXA Investment

Advocacy organization Cross Border Benefits Alliance-Europe (CBBA-Europe) will hold its inaugural conference to a packed audience on 6 December, 2017 in Brussels, Belgium. Over 100 delegates have registered and the conference no longer accepts applications to attend, due to space restrictions. Focusing on ‘Cross-border and pan-European Pensions, and Why CBBA Supports Them’, the inaugural event is supported by the likes of Mercer, Zurich, Generali’s GEB, Amundi, and Previnet. As

According to early versions of the 2018 U.S. budget that in November 2017 is making its way through the legislative process, a new 20% excise tax is to be introduced. The tax shall apply to almost all payments made by U.S. companies to non-U.S. affiliates of the same group (an “international financial reporting group”: subsidiaries, parents companies, and sister companies). The tax will not be deductible from U.S. corporate

KPMG International has undergone a few changes to its top-tier professionals, the first being the election of Bill Thomas to the position of Chairman, and the second being the appointment of Laura Hay to Head of Global Insurance. Thomas, 49, will lead the KPMG global network of professional services firms for a four-year term. He succeeds John Viehmeyer, who is retiring; he previously served as Chairman of KPMG’s Americas

U.S. employer premiums rose an average of 6.6 percent in the first three fiscal quarters of 2017, according to the 2017 United Benefit Advisors (UBA) Health Plan Survey released on 26 October. This is a significant increase from the five-year average increase of 5.6%. Two states, Connecticut and New York, saw stunning increases of 24% and 14% respectively, while some states, such as Arizona and Washington, saw decreases of

China in November 2017 announced it would lift the current foreign ownership cap for life insurance companies to 51 percent in 2020 and remove the limit altogether two years later. Other segments of the financial industry will see their limits relaxed even earlier. The limits for fund management companies and for securities ventures will be raised this year to 51 percent, then completely removed in three years, whereas banks

Bug Insights’ human resources analytics and rewards optimization offering in November 2017 was acquired by Deloitte Consulting. Viewed as a critical step on the journey to creating a total relationship with employees, the offering allows employers the ability to determine what their employees value most from their rewards programs. It leverages trade-off analysis and employee preference measurements to give companies specific information about their employees’ attitudes, helping to design

The Organisation for Economic Co-operation and Development (OECD) in October 2017 released a white-paper entitled Computers and the Future of Skill Demand. The study provides insights into current computer capabilities with respect to certain human skills, and what this portends for the future workplace. The report is the culmination of an exploratory project that focused on understanding current computer capabilities with respect to the three general cognitive skills needed

10 years ago, a number of group protection providers in the U.K. approached the ORC International research company and asked, “Can you help us understand how advisers feel about the proposition, service and support we provide?” Or something along those lines! 10 years on from the conversation that took place between seven of the leading group protection providers and ORC International back in 2007, the annual, syndicated “Group Protection Monitor” is still going strong.

The step forward came in 2007 when Lockton acquired Alexander Forbes GBV: What are the highlights of your careers in relation to global employee benefits and global mobility?

Interview – Lockton’s Mike Tyler, Chris Rofe, and Jon Green The U.K. Group Protection Market and Insurers – A Retrospective, by Paul Avis and Peter Johson The Long, Strange History of Dieting Fads, by Melissa Wdowik Want to Fix America’s Health Care? by Dariush Mozaffarian

Interview – Lockton’s Mike Tyler, Chris Rofe, and Jon Green The U.K. Group Protection Market and Insurers – A Retrospective Paul Avis and Peter Johson The Long, Strange History of Dieting Fads Melissa Wdowik Want to Fix America’s Health Care? Dariush Mozaffarian

Ping An Insurance Company of China in October 2017 announced that it has established two units, the Global Financial and Economic Development Research Center. and the Global Medical and Healthcare Research Center, in association with Tsinghua University, with the aim of creating a global, top-grade think tank supported by the scientific research capabilities and scientists of Tsinghua, and the technology innovation in fintech, healthtech, and smart-city development expertise of

Canadian provider of employee and family assistance programs (EFAP) Morneau Shepell in November 2017 announced that they have acquired Pro Health Group, an EFAP and wellness program provider based in Quebec City, Canada, which focuses on prevention of mental and physical health issues and on supporting employees and their families. The acquisition represents approximately one percent of Morneau Shepell’s revenue and is not expected to have a material impact

Job website Glassdoor in October 2017 released a study that determines that three in four full- or part-time employees get fewer than 8 hours of sleep per night, averaging just 6.9 hours of sleep. This is below the recommended 7-9 hours per night that are understood to be required for people to function at their very best. Conducted by Harris Poll in late March and early April 2017 among

Global consulting and actuarial firm Milliman in October 2017 announced that they have joined with the MicroInsurance Centre (MIC), a consulting firm and micro-insurance thought leader dedicated to generating access to micro-insurance products to 3 billion low-income people across the globe. The transaction accelerates MIC’s progress toward its goals while significantly expanding Milliman’s capabilities in micro-insurance. The joint venture operates under the “MicroInsurance Centre at Milliman” brand and allows

AIA in October 2017 concluded a new bancassurance partnership with Bangkok Bank in Thailand. Bangkok Bank will distribute AIA Thailand’s retail and group protection and long-term savings products on an exclusive basis. The 15-year agreement will become effective in the first half of 2018. Bangkok Bank is the largest bank in Thailand by total assets; it has more than 16 million customer accounts and around 1,200 branches nationwide. Typical

Allianz Worldwide Care in November 2017 announced it would rebrand itself as Allianz Partners as part of a global strategy which will be implemented across all business lines over 2018 and 2019. International health and life insurance products and services will come under the “Allianz Care” brand. Allianz Partners provides health insurance and services to the staff of multinational organizations as well as private individuals and their families living

Global insurance company XL Catlin issued their Q3 2017 October report, Emerging risks we’re watching and why, which highlights key factors in emerging risks presented by new state medical marijuana laws in the U.S. and the ongoing North American opioid epidemic. Of particular note is the marked reduction of the North American workforce as a result of the opioid epidemic. The Federal Reserve has cited the epidemic as one

Global insurance brokerage Hub International in October 2017 announced it had acquired the assets of employee benefits specialist Graffam Insurance Group. Terms of the acquisition were not disclosed. Based in the state of Maine, USA, Graffam services businesses in Maine and New Hampshire.

Gen Z consumers (i.e., people aged 18-21) are surprisingly more likely than any other age group, including Baby Boomers, to visit a bank branch at least weekly, according to a study from Accenture released in October 2017 – reflecting the heavy cash dependence within their age cohort. The study also found that Gen Z consumers are the most active and engaged group using mobile banking, with all other consumers