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The women’s market for insurance worldwide is growing rapidly, and is projected to attract $1.45 to $1.7 trillion through 2030, well up from the $800 million the insurance industry realized in 2013. Most significantly, over half of those trillions will come from emerging economies in Brazil, China, Colombia, India, Indonesia, Mexico, Morocco, Nigeria, Thailand, and Turkey. Recognizing the potential of these untapped markets, AXA, IFC, and Accenture collaborated to

In November 2015 Cigna released its Global Mobility Trends Survey, updating the 2013 edition. The survey, conducted between April and June 2015, included 2700 expatriate respondents on assignment in 156 countries. Key findings: Global mobility appears to be evolving into a career unto itself. Expats say they need more communication and support, but employers are viewed as moving in the opposite direction. Expats want more assistance with local culture

Allianz in November 2015 established a new dedicated unit focusing on Employee Benefits and on Group Life, Health & Pension solutions in Asia. This has a strong impact on Allianz Global Benefits‘ footprint in Asia. Tony Hore, Regional Di­rector Asia Pacific, will continue to be the main interface into Asia for the Allianz Global Benefits (AGB) business in the large corporate segment. In addition to his AGB responsibilities, Tony

Building on a tried-and-tested concept, a great innovation in U.S. healthcare. Reproduced Without Permission from The Onion – Sept 23, 2015 and kept warm expressly for GBV readers. ROCHESTER, NY—During a meeting with new hires Wednesday to discuss employee benefits, Radian Analytics human resources manager Ellen Schultz is said to have strongly pushed the company’s infinite-deductible health care option. According to sources in attendance, Schultz described the low-premium,

GBV magazine published this candid interview of Guy Abbiss, the managing partner of London-based lawyers Abbiss Cadres and one of the founding members of the CELIA Alliance, a global network of law firms, in the December 2015 issue, now available as a free downloadable PDF here. Abbiss Cadres LLP specializes in tax and social security, employment law, and employee incentives as well as broader HR consulting and communications services.

Willis and Towers Watson completed their merger in early January 2016 and became Willis Towers Watson (WTW). The go-ahead decision on the USD 18 billion deal was made by shareholders in an early December 2015 vote, after the terms were changed in several increments during the preceding five months as Towers Watson shareholders were unhappy with the terms offered. Driven by both firms’ management, the deal had been announced

European Union authorities signal a stronger commitment towards furthering the integration of private pension systems across Europe and extending the single market to insurance and pensions. In November 2015, the European Commission highlighted efforts by a number of countries in reforming their first-pillar pension systems, especially in the view of increased longevity. At the same time, it insisted that further steps needed to be taken by member states to

Medical inflation appears to have slowed down in the U.S. in 2015, the average increase of health care rates for mid-size and large employers was 3.2% against 4.4% in 2014 and an expected 4.1% in 2016. Lower utilization levels due to reduced purchasing power of individuals and lower increases in medical prices contribute to this modest and perhaps temporary slow-down. The average total health care cost per employee, including

Ludovic Bayard, formerly Chief commercial officer of Generali’s GEB unit, is promoted to the position of general manager, effective December 1, 2015. This is one of the outcomes of a comprehensive strategic review of GEB’s operations conducted in the second half of 2015, involving Generali’s top executives up to and including the group’s Group management committee. Other decisions pertaining to GEB’s strategy will be announced in early 2016. At

Global composite insurer Zurich in December 2015 announced the appointment of Gary Shaughnessy as CEO Global Life as well as to the Group Executive Committee. He succeeds Kristof Terryn who was appointed CEO of Zurich General Insurance in October 2015 and still acted as interim CEO for the Global Life unit (see here). Mr. Shaughnessy has been CEO of Zurich U.K. Life since June 2012; in 2014 he assumed

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Frank A. Schmid is the new Head of AIG’s Group Benefits business and of the Disability Product Center of Excellence, GBV learned in December 2015. Frank holds a PhD in economics and a post-doc in finance from the University of Lüneburg, Germany. Dr. Schmid published numerous scholarly papers in finance and economics and was affiliated with the University of Pennsylvania, the University of Vienna, Free University of Berlin, CERGE-EI

In a  major restructuring effort, financially challenged Zurich Group in December 2015 said it will eliminate or move as many as 1,800 jobs, and announced the resignation of CEO Martin Senn. Tom de Swaan, the Chairman of the Board of Directors since 2013, has been appointed CEO ad interim. Zurich cited the August explosions at the port in Tianjin, China, and a poorly performing U.S. auto book of business

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

Signaling an increased commitment to the global employee benefits industry, global insurance powerhouses MetLife and AXA in late October 2015 announced they will combine their existing MAXIS Global Benefits Network (MAXIS GBN) operations in a new co-owned joint venture company based in London. Mauro Dugulin, formerly CEO of Generali Employee Benefits Network (GEB), will serve as CEO. MAXIS has been headquartered in Paris and New York since its inception

The 1,500-participant, sold-out event in the Bataclan concert hall was sponsored by music production firm Universal Music Group, a division of Vivendi Universal, who had invited a large number of guests, mainly managers and executives from the advertising, media, music, and broadcasting industries. As soon as Saturday, November 14, most large French brokers and TPAs had set up rapid-response teams and call centers, providing psychological and other support to

In response to questions asked by several GBV subscribers and readers, our three team members who are based in Paris were not harmed in any of the November 13 terrorist attacks in Paris and its outskirts. While some had family members at the Stade de France soccer stadium, luckily none were injured in the bombings there. Sadly, Marc Signorel, CEO of our web agency OuterRim, lost two close friends,

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Zurich presented the “Zurich International Programs for Employees” at the October 2015 biannual meeting of the Federation of European Risk Management Associations (FERMA). The new product, to be launched in 2016, allows multinationals to manage their employee benefits coverages through a single global program, combining local policies with cross-border policies; as well as providing centralized data and reports. From a marketing standpoint, the new product is aimed squarely at

AXA Group’s AXA PPP healthcare unit in the UK in August 2015 launched its “Corporate Health Plan for Mid Corporates”, geared towards small-to-midsize businesses (SMBs) from 65 to 250 employees, that provides access to medical diagnosis and to approved treatments and drugs to get employees back to health and back to work quickly. Features usually reserved for larger groups include networks of quality-assessed healthcare providers: over 250 hospitals, 400

Theo Lutgendorff joined in November 2015 as partner in Sprenkels & Verschuren, Actuaries and Consultants, in Amsterdam. He previously worked at Zurich Global Life as global partnership director (2013-2015), and as head of the Zurich Employee Benefits Network (2010-2013). Before his roles at Zurich, Theo was active in the global benefits and pensions market as principal with Aon Consulting. Sprenkels & Verschuren is the largest privately held and independent

For many employers the largest liability related to employees after payroll-related cost is employee benefits. Subject to a turbulent and volatile past, now largely over, some management vestiges remain. Employers should examine the management of employee benefits and how tailored it is to their company’s current risk profile and cash flow. Certainly captives require more administration and an empowered internal advocate who can maximize utilization. But for mid-size and

Wendy Liu is the head of Zurich Global Employee Benefits Solutions since July 2015. Zurich Global Employee Benefits Solutions includes Zurich Employee Benefits Network (Zebn). Wendy is currently based in New York and will relocate to Zurich towards the end of 2015. Prior to her current position, she was Global Partnership Director for Zurich Insurance Company, Head of Central Deal Desk for Zurich Financial Services and Senior Consultant at

Negotiating Across Cultures Sir Richard Lewis and  Michael Gates The Promise of More to Come: U.S. Benefit Captives on the Verge of a Breakthrough Peter Bandarenko How CEOs should be Paid: Beware vesting periods! Alex Edmans Banker’s Bonuses: French Legal Aspects Stéphanie Le Men Interview Bruno Gabellieri, Secretary General AEIP: Expert facilitator serving European ideals  

Broker’s Annual Health and Productivity Survey Tracks Employer Trends Employers offering health and wellness programs have moved beyond the standard financial measures associated health care cost savings towards a broader focus on the overall value of health management within a workplace, according to the Willis Health and Productivity Survey published today by Willis North America’s Human Capital Practice. According to the survey, nearly two-thirds of respondents (64%) with wellness