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

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

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

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.

Principal Financial in October 2017 bought MetLife’s pension fund management business in Mexico, MetLife Afore, adding a larger distribution network to Principal Afore’s current business in the country and the fifth largest player in the Mexican mandatory pension, voluntary long-term savings, and mutual funds competitive space. The transaction is expected to complete in early 2018.

CVS Health, an American drug store chain that also operates walk-in health clinics and a pharmacy benefit business, in October 2017 was reported to be in talks to purchase Aetna Insurance in a deal that could be worth more than $60 billion based on Aetna’s current market value. This would make the purchase one of the largest in the history of the health industry. CVS, with the addition of

Swiss Life in October 2017 entered into a long-term partnership with Swiss business software provider for small businesses, bexio. Swiss Life becomes one of the largest shareholders of bexio and Swiss Life Switzerland CEO Markus Leibundgut joins the Board of Directors. The start-up already has over 10 000 customers and employs a staff of 50 in Switzerland. Bexio focuses on small-to-medium-sized businesses (SMBs) and offers web-based services – including

Arthur J. Gallagher in October 2017 acquired DiBrina Group, a Sudbury, Ontario, Canada HR insurance firm. The terms of the sale were not disclosed. Founded by Michael DiBrina in 1989 and incorporated in 1997, DiBrina Group provides human resources, employee benefits, wealth management, and life insurance consulting and brokerage services. The team, which includes Mr. DiBrina, as well as Tim Lychy, Diego Favero, Aurel Malo, Ehren Baldauf, Jeff St.

AIA Group has reached an agreement with the Commonwealth Bank of Australia (CBA) to acquire CommInsure Life and Sovereign, CBA’s life insurance business in Australia and life and health insurance businesses in New Zealand. In addition, AIA will enter into 20-year strategic bancassurance partnerships with CBA in Australia and ASB Bank in New Zealand. The gross consideration to be paid with respect to the transaction is AUD3,800 million (which

Aon in October 2017 announced it had purchased Portus Consulting, an independent U.K.-based employee benefits firm. Portus has a leading position in the U.K. professional services market, particularly the legal sector and among SMEs with 50 to 750 employees. It will join Aon Employee Benefits, which says it has 2,500 large and SME corporate clients, covering over 1 million lives in the U.K.

Global broker Arthur J. Gallagher in September 2017 announced the acquisition of property and casualty insurance broker Nordic Försäkring & Riskhantering  in Gothenburg, Sweden, for an undisclosed amount. Sweden is considered to be a core strategic development area for Gallagher, following the 2013 purchase of international marine and energy broker Bergvall Marine, based in Norway, and Brim, who are Stockholm trade credit, political risk and consulting specialists. The deal

UnitedHealth in August 2017 acquired Advisory Board’s health-care analytics, research and consulting operations for about $1.3 billion including debt. The merger is part of a two-way deal that will also see private equity firm Vista Equity Partners purchase Advisory Board’s education arm for $1.55 billion. Advisory Board will become a part of UnitedHealth’s Optum pharmacy-benefit and health-care services unit. That business has been a major source of revenue growth

Massachusetts Mutual Life Insurance Company (MassMutual) in August 2017 sold its Hong Kong-based subsidiary, MassMutual Asia, to Yunfeng Financial Group and other Asia-based investors for approximately $1.7 billion, including a 24.8% stake in Yunfeng Financial Group. MassMutual Asia owns a P/C insurer and MassMutual Trustees, which focuses on the Mandatory Provident Fund business, a compulsory pension plan for the retirement of residents in Hong Kong. According to the joint

Total global fintech investment more than doubled quarter over quarter in Q2’17 to US $8.4 billion, up from US$3.6 billion in Q1’17, according to the KPMG Pulse of Fintech report. The fintech market rebound was helped by global M&A investment, with US$5.9 billion in deal value for M&A for the quarter. Comparatively, global VC funding to fintech companies declined slightly, with just over US$2.5 billion in VC funding raised

Arthur J. Gallagher in August 2017 announced the acquisition of Michigan, U.S.A.-based Ballard Benefit Works, a boutique employee benefit and health care finance brokerage, consulting and insurance agency. Ballard Benefit Works, founded in 2009 by Justin Spewock, serves public, private and not-for-profit clients primarily throughout , Washington, D.C. and Florida. It specializes in the development of alternative models for healthcare delivery. Ballard will operate under the direction of John

Pan-American Life Insurance Group (PALIG) in June 2017 acquired HolaDoctor, the leading digital provider of health and wellness solutions for Hispanic audiences, in a significant strategic initiative by PALIG that both expands its presence in the U.S. Hispanic market and strengthens its position as a healthcare leader in Latin America. Terms of the deal were not disclosed. Founded in 1999, HolaDoctor is an online resource for Hispanic consumers interested

Global insurance brokerage Hub International (Hub) in July 2017 acquired HR technology consultants MillsonJames for an undisclosed sum. Based in Florida, USA, MillsonJames advises brokers and employers on HR and benefits technology.  MillsonJames principal Scott Millson now reports to Chris Gardner, President and CEO, Hub Florida.

U.S. banking group Wells Fargo in June 2017 announced that it had sold Wells Fargo Insurance Services USA (WFIS) to USI Insurance Services. Wells Fargo group is refocusing on core banking products and services. Wells Fargo’s Personal Insurance business remains with Wells Fargo group and will report to its Consumer Lending division. WFIS provides small business, middle market, large corporate and high net worth clients with property and casualty,

FWD Group in May 2017 announced it had completed the acquisition of American International Group (AIG)’s Japanese subsidiary AIG Fuji Life Insurance Company. The acquired business intends to trade as FWD Fuji Life Insurance Company. It is to be led by current AIG Fuji Life CEO Norio Tomono, reporting to Huynh Thanh Phong, FWD Group’s CEO. AIG Fuji Life Insurance Company is the AIG Global Benefits Network partner in

Arthur J. Gallagher in June 2017 announced the acquisition of Ann Arbor, Michigan-based Armstrong/Robitaille/Riegle and Ann Arbor Business Advisors. Terms of the transaction were not disclosed. Brokerage Armstrong/Robitaille/Riegle offers employee benefits, retirement planning, life insurance and human resource consulting, as well as commercial and personal property/casualty coverages, to clients primarily in Michigan and in California. Ann Arbor Business Advisors provides retirement plan services for institutional clients. Laurie E. Riegle,

Arthur J. Gallagher in May 2017 announced the acquisition of Zuber Insurance Agency in Houston, Texas. Zuber Insurance, a full-service insurance agency offering employee benefits, commercial and personal property/casualty insurance, and life insurance in Texas, was founded in 1934 by J.L. Zuber. Alan Zuber and his associates will continue to operate from Houston. As far as employee benefits are concerned, they will report to Robby White, head of Gallagher’s South

Global insurance brokerage Hub International in June 2017 announced that it has acquired Brady Insurance Planning, an East Norwich, New York-based employee benefits advisor. Matthew Brady, the principal, will join Hub Northeast. Terms of the acquisition were not disclosed. Headquartered in Chicago, IL and with offices throughout North America, Hub International provides P&C, life and health, employee benefits, investment and risk management products and services. Only one day earlier,

Zurich Eurolife in June 2017 announced the acquisition of an existing book of international pension plans from AG2R La Mondiale’s (AG2R) Luxembourg-based subsidiary La Mondiale Europartner. The transaction is expected to close during the second half of 2017, after regulatory approval. The new agreement with La Mondiale Europartner will see their existing customers transfer to Zurich’s international pension plans. AG2R and Zurich have enjoyed close relationships for many years,

International insurance brokerage and risk management services firm Arthur J. Gallagher in June 2017 announced the acquisition of Total Reward Group in Kent, England. Founded in 2005, Total Reward Group is a U.K. consultancy offering remuneration support, executive search, interim placement and corporate training for reward professionals throughout the world. Based in Kent, its consultants work with global brands, mid-size firms, public and third sector organizations across a range

Swedish alternative investments firm EQT in May 2017 sold Bureau van Dijk to Moody’s for EUR 3.0 billion. The transaction is expected to close in the third quarter of 2017. Bureau van Dijk, with headquarters in Amsterdam, The Netherlands, captures, processes, standardizes, and distributes a dataset about private companies around the world, with coverage of more than 220 million companies. It aggregates approximately 160 different information sources. EQT had

Lemonade, the New York City-based insurtech company in April 2017 announced a strategic investment by Allianz, the world’s largest insurance company. Details of the investment have not been disclosed. Solmaz Altin, Chief Digital Officer at Allianz, cited the company’s commitment to staying at the cutting edge of insurance and to helping Lemonade expand throughout the U.S. and internationally. Allianz already had invested in several thought leadership initiatives, such as

Global Bankers Insurance Group, the insurance and reinsurance division of Eli Global, in April 2017 acquired Luxembourg insurance company NN Life Luxembourg, a subsidiary of NN Group of The Netherlands. According to George Luecke, Vice Chairman and Co‐Chief Executive Officer of Global Bankers, the deal is part of their strategic expansion in Europe and follows on the acquisition of a portfolio of in‐force life and annuity insurance policies from