2021 Global Benefits Financing Matrix and Poolable Coverages
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2021 Global benefits financing matrix and poolable coverages Complete listing of the eight key global benefits networks and their affiliated insurers across 212 countries and territories © 2020 Willis Towers Watson. All rights reserved. willistowerswatson.com More and more companies are taking a proactive approach to the financing of employee benefits at a global level. Actively managed multinational pooling, global Effective execution of a global financing strategy for underwriting and captive financing approaches can yield employee benefits is critical to its success. A key Key developments seen among the global benefits significant financial savings opportunities. They can also component of execution hinges on establishing the right networks during 2020 included the following: support broader HR initiatives and, ultimately, bring more multinational insurers to partner with to best meet the value to employees. needs of your business, at both HQ and local levels. Five dimensions can help ensure these needs are met – see ▪ The AIG Global Benefits Network confirmed that it With all the challenges that most businesses faced graphic below. would cease to provide multinational pooling during 2020, we expect to see more multinational solutions from 1 January 2021. companies using these approaches to bring as much As your business considers its approach to execution, it value as possible to their businesses and employees will also be important to ensure the right framework is in ▪ There was a net increase in the number of local around the world in 2021 and beyond. place around the insurers to enable each insurer to best affiliated insurers reported across all networks from support the delivery of your employee benefits around 2020 to 2021, indicating that the market continues to A well executed financing strategy can enhance the world. evolve. employee benefits across five dimensions ▪ A number of the networks have experienced material growth in global underwriting and captive programs over the last 12 months. There is much less growth, if any, in the volume of multinational pooling arrangements. ▪ There has been an increased focus on developing particular solutions that support the change in demand as a result of the COVID-19 pandemic (e.g. telemedicine and mental health). Willis Towers Watson's 2021 multinational insurers matrix provides a complete listing of the eight multinational networks for benefits, their affiliated insurers and their multinational pooling capabilities across 212 countries and territories. For each country, the matrix lists insurers that can provide locally admitted policies and products. And shows coverages that are poolable for each insurer in brackets, e.g. life, accident, disability, medical, pension. willistowerswatson.com 2021 Global benefits financing matrix and poolable coverages Zurich Global Allianz Global Swiss Life Global Country AIA Generali GEB IGP Insurope MAXIS GBN Employee Benefits Benefits Solutions Solutions Number of country 19 85 128 73 105 116 80 132 and territory members Afghanistan None None None None None None None None SIGAL UNIQA Group Albania None None None None None None None AUSTRIA (L,A,D) AXA Assurances Algérie Salama, Globus Algeria None None Macir Vie (L,A,D) None None None Vie SPA (L,A,D,M) Networks (L,A,M) Andorra None None None None None None None Zurich Spain Saham Angola Seguros Fidelidades, Globus Angola None None None Saham Angola Seguros None None (L,A,D) Network (L,A,D,M) Pan-American Life Pan American Life Insurance Company of Antigua and Barbuda None None None None Sagicor Life (L,A,D,M) None Insurance Group the Eastern Caribbean (L,A,D,M) (L,A,D,M) HSBC Seguros Allianz Argentina Galicia Vida Compañía La Caja De Seguros Argentina (L,A,D) / Argentina None Compañía de Seguros SMG LIFE (L,A,D) MetLife Argentina de Seguros /Mapfre Zurich (L,A,D) (L,A,D) Prudential Seguros S.A. (L,A,D) (L,A,D) Armenia None None Ingo Armenia (A,M) None None None None None Pan-American Life Pan American Life Aruba None None None None Sagicor Life (L,A,D) Insurance Company of None Insurance Group Aruba V.B.A. (L,A,D,M) (L,A,D,M) Allianz Australia AIA Australia Limited AMP (L,D) / Integrity Life MetLife Insurance AIA (L,A,D) / One Path Australia Insurance Ltd / AIA MLC Limited (L,D) AMP Life Limited (L,D) Hannover Life (L,D) (L,A,D) (L,D) Limited (L,D) (L,A,D) Australia Poolable coverages: L = Life A = Accident D = Disability M = Medical P = Pension Copyright © 2021 by Willis Towers Watson. All rights reserved in all countries. No part of this publication can be reproduced in any manner without prior written permission of the publisher. Information current as of January 2021. This matrix represents only those insurers that are able to issue locally admitted/authorized contracts in each country. Sources include information provided by the networks and the network website geographical listing. willistowerswatson.com 2 2021 Global benefits financing matrix and poolable coverages Zurich Global Allianz Global Swiss Life Global Country AIA Generali GEB IGP Insurope MAXIS GBN Employee Benefits Benefits Solutions Solutions Number of country 19 85 128 73 105 116 80 132 and territory members Allianz Elementar ERGO Versicherung AG UNIQA Österreich UNIQA Österreich Wiener Städtische / Zuerich Versicherungs- Lebensversicherungs / Generali Versicherung (in association with Austria None Versicherungen Versicherungen Vienna Insurance Group Aktiengesellschaft Allianz Elementar (L,A,D,M) BONUS Pensionskassen (L,A,D,P) (L,A,D,M) (L,A,D,M,P) (L,A,D) Versicherungs (L,A,D,P) AG) (L,D,P) Ateshgah Life Insurance Azerbaijan None None (L,D) / Ateshgah None None None None None Insurance (A,M) Bahamas None None None None None None None None Bahrain National Life MetLife Bahrain / AXA Zurich International Life Bahrain None None None None Arabia Insurance (L,M) (L,A,D,M) Gulf Bahrain (L,A,D,M) (L,A,D) Bangladesh None None None None None MetLife Bangladesh None None Pan American Life Pan American Life Barbados None None None None Sagicor Life (L,A,D,M) Insurance Group None Insurance Group (L,A,D,M) (L,A,D,M) Belarus None None Ingosstrakh Belarus None None None None None Allianz Benelux S.A. AG Belgium None Athora Belgium (L,A,D) AG (L,D,M,P) AXA Belgium (L,A,D,M) NN Goup (L,A,D,P) Vivium (L,A,D) (L,A,D,M,P) (L,A,D,M,P) Atlantic Insurance Belize None None None Sagicor Life (L,A,D,M) None None None (L,A,D,M) Saham Assurance Bénin L'Africaine des Saham Assurance Vie SUNU Assurances Vie Benin None None None / Saham Assurance Vie None Assurances, Vie, Globus (L,A,D) Bénin (L,A,D,M) Bénin Network (L,A,M) Poolable coverages: L = Life A = Accident D = Disability M = Medical P = Pension Copyright © 2021 by Willis Towers Watson. All rights reserved in all countries. No part of this publication can be reproduced in any manner without prior written permission of the publisher. Information current as of January 2021. This matrix represents only those insurers that are able to issue locally admitted/authorized contracts in each country. Sources include information provided by the networks and the network website geographical listing. willistowerswatson.com 3 2021 Global benefits financing matrix and poolable coverages Zurich Global Allianz Global Swiss Life Global Country AIA Generali GEB IGP Insurope MAXIS GBN Employee Benefits Benefits Solutions Solutions Number of country 19 85 128 73 105 116 80 132 and territory members BF&M Life Insurance Bermuda Life Insurance Bermuda None None None None None None Company (L,A,D,M) Bhutan None None None None None None None None La Boliviana Ciacruz Bolivia None None None None None None None Seguros (L,A,D) Pan American Life Bonaire None None None None None None None Insurance Group (L,A,D,M) Bosnia and UNIQA Bosnia & None None None None None None None Herzegovina Herzegovina (L,A,D) Metropolitan Life Botswana None None Hollard Life (L,A,D) None Botswana Life Insurance None None Botswana Care Plus (BUPA) / Icatu Seguros / Inpao Allianz Seguros S.A / Generali Brasil (L,A,D) / MAPFRE Vida SA Zurich Minas Brazil Brazil None ICATU Seguros MetLife Brasil (L,D) Dental / MAG / Mapfre Allianz Saúde S.A Sul America (L,A,D) Seguros (L,A,D) (L,A,D,M) (L,A,D,M) AIA Singapore Private National Insurance Tokio Marine Life Brunei Limited (Brunei Branch) Company Berhad / AIA None Aviva Ltd. (L,D,M) None Insurance Singapore Ltd None AIA (L,A,D,M) (L,A,D,M) Brunei (L,A,D,M) Bulstrad Life Vienna Allianz Bulgaria Life Generali Insurance Bulgaria None None Uniqa Insurance (L,A,D) MetLife Bulgaria (L,A,D) None Insurance Group Insurance Co. (L,A,D,M) (L,A,D,M) Saham Assurance Saham Assurance Vie Vie Burkina Faso / SUNU Assurances IARD Sonar, Globus Network Burkina Faso None None None None (L,A,D) Saham Burkina Faso (L,A,D,M) (L,A,M) Assurance Burkina Faso Poolable coverages: L = Life A = Accident D = Disability M = Medical P = Pension Copyright © 2021 by Willis Towers Watson. All rights reserved in all countries. No part of this publication can be reproduced in any manner without prior written permission of the publisher. Information current as of January 2021. This matrix represents only those insurers that are able to issue locally admitted/authorized contracts in each country. Sources include information provided by the networks and the network website geographical listing. willistowerswatson.com 4 2021 Global benefits financing matrix and poolable coverages Zurich Global Allianz Global Swiss Life Global Country AIA Generali GEB IGP Insurope MAXIS GBN Employee Benefits Benefits Solutions Solutions Number of country 19 85 128 73 105 116 80 132 and territory members Bicor, Globus Network Burundi None None None None None None None (L,A,M) Garantia, Globus Cabo Verde None None None None None None None Network AIA (Cambodia) Life Sovannaphum Life Cambodia None Generali Life (L,A,D) None None None AIA (L) Insurance Plc (L) Allianz Cameroun AXA Assurances Saham Life Insurance Assurances / Allianz Saham Life Insurance Cameroun (A,M) / SUNU Activa, Globus Network Cameroon None None Cameroon / Saham None Cameroun Assurances Cameroon (L,A,D) Assurances IARD (L,A,M) Assurance Cameroon Vie Branch Cameroun (L,D) Manulife Financial Desjardins Financial Industrial Alliance SSQ Insurance Co.