While Mexico’s principal mandatory pension system began as a Defined Benefit (DB) program in 1973, in 1997 it was changed to a Defined Contribution (DC) plan, with individual accounts managed by financial institutions such as banks and insurance companies. This DC system is still open to new members, while the DB pension one is closed.

Captive insurance has been an increasingly popular alternative risk transfer mechanism for U.S. companies for decades. But what may come as a surprise is that one of the great growth opportunities isn’t a new property or casualty exposure. It’s employee benefits. Some seemingly minor changes in the U.S. regulatory landscape may go a long way in explaining the renewed interest in employee benefits captives – but read on: Peter

Human-resources startup Zenefits may be falling short of its revenue targets and has apparently started to curb expenses, as it struggles to meet investor expectations. Zenefits had announced a target of USD 100m in annualized revenues to be reached by January 2016 but may fall short as August 2015 actuals are understood to be slightly under USD 45m, still a large increase compared to USD 20m in January 2015.

According to traditional financial theory, a firm’s value is a function of its existing net worth and of its future profits. The way in which stock markets value large, traditional, listed brokers appears to be consistent with this. The table below includes some of the largest brokerages / consulting firms in the world and was compiled on November 23, 2015. As of late November 2015, the five firms exhibit