The March 31, 2017 imposition of Article 50 has nervous Britons rushing to transfer their final salary pensions into overseas schemes. According to deVere Group, a large independent financial advisory organization, the percentage of inquiries about transferring pensions has risen 21% since the beginning of December. While there has been interest since the Brexit vote in June 2016, the surge to transfer pensions overseas intensified during December and promises

In his first all-Conservative budget, the U.K.’s Chancellor of the Exchequer announced that from April 6, 2017, applicants for Employment and Support Allowance (ESA) who are assessed as unfit for work but capable of work-related activity will receive a lower level of State Benefit, equivalent to Job Seekers Allowance. This means that the annualized value of benefits will fall from £5,312 to £3,801.

The British economy loses £40 billion a year due to sleep deprivation, per a new study¹ . Beyond the loss of economic output, sleep-deprived Britons are shortening their lives. The study shows that people who sleep less than six hours a night have a 13% higher mortality rate than those sleeping at least seven hours.

The U.K.’s High Court in November 2016 ruled that the British government could not trigger Article 50 of the E.U. Treaty, thereby setting off Brexit negotiations, without having Parliament voting on the matter first. The government has appealed the decision and the appeal will be heard in the U.K. Supreme Court in early December. The court stated it would deliver its judgment, which is final, “probably in the New

The Association of British Insurers (ABI) published an analysis of how EU legislation impacts on the U.K. insurance and long term savings industry after BREXIT. The analysis, titled EU Exit: EU Legislation Mapping Exercise, identifies legislation that ranges from key consumer protections, such as the European Health Insurance Card and Data Protection regulations, to EU-wide prudential regulations like Solvency II. The mapping exercise identified 80 “relevant” pieces of EU

Auto manufacturer BMW in September 2016 decided to end both of its UK final salary-defined benefit (DB) pension plans. Both plans will cease future accrual as of June 2017, affecting around 5,000 members total. Citing significant pension fund shortfalls and the cost risks associated with DB plans, BMW explained that their plans are increasingly unsustainable and unaffordable for both the company and the pension plans members. Unite, the union

The Health Insurance Group in September 2016 introduced a global and expatriate Employee Assistance Program (EAP) that provides help and support to people working abroad who are in crisis or need. Partnering with Morneau Shepell, the leading provider of integrated health and productivity solutions in Canada, The Health Insurance Group, located in the United Kingdom, offers a comprehensive suite of international assistance programs, including worldwide EAP, to help employees

Jayesh Patel since January 2016 has assumed the role of Head of International Risk Management Programs. In his new position he is responsible for the Captive, Pooling and Consolidated Underwriting programs of Allianz Global Benefits while also leading the global tender and implementation team and reports to François Jacquemin, Head of Products & Solutions. Jayesh Patel has been with the Allianz Group in various roles before joining Allianz Global

Every year in April and July, the two most important surveys for UK Group Risk Insurers come out. Swiss Re’s Group Watch shows how the Group Risk market is doing, while ORC International’s Group Risk Survey shows how the industry is performing from an adviser and customer perspective.

UK employers tend to fall short when it comes to having a defined health strategy plan for their employees, especially when the numbers are measured against mainland Europe, Middle East, and Africa (EMEA). Aon’s EMEA Health Survey Report, published in early 2016, revealed that only 30 percent of UK employers have a defined health strategy compared with 40 percent of EMEA employers, and that only 37% of UK employers

The United Kingdom following its referendum, in June 2016, decided to leave the European Union. From the perspective of global employee benefits and global mobility, the consequences are unknown as of June 24, the day when “Brexit” was announced. Not least because the modalities and the details of the forthcoming separation of the United Kingdom and the European Union are still to be negotiated according to the Treaty of Lisbon,

Barry Perkins has been appointed Regional Director U.K., with responsibility for client management and sales activities. Barry will be relocating to London and will report to Dirk Hellmuth, CEO of Allianz Global Benefits. Before his new position, Barry was Head of Account & Tender Management in the head office of Allianz Global Benefits in Munich, in charge of client service delivery and the operational management of the client teams

AIG in the UK have announced in September 2015 the launch of their “Expatriate Care” product, aimed at UK-headquartered organizations with expatriate employees. Interestingly, AIG has partnered with Paris, France – based broker and TPA Henner. One of Henner’s division is a medical plan administrator with a network of 35,000+ medical providers in 160 countries, with discounts and direct billing arrangements. The AIG UK product includes a medical second

As the largest UK market place, Group Life is the best place to start our review. Every year the two most important surveys for U.K. Group Risk Insurers come out in April and June. Swiss Re’s ‘Group Watch’ shows how the Group Risk market is doing, and ORC International’s syndicated Group Risk adviser research shows how the industry is performing across the whole customer journey and anticipated future trends.

Willis announced the acquisition of PMI Health Group, an independent healthcare adviser and broker in the U.K. The deal will  raise Willis’s presence in the U.K. employee benefits and healthcare market, and  enhance its product offerings and skills base.