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U.S. Insurance Industry’s Structured Securities Holdings Top $1 Trillion

The U.S. insurance industry’s overall holdings of structured securities rose for a third straight year, by nearly 7% in 2018, and now top the $1 trillion mark, according to a new AM Best report.

The new Best’s Special Report, titled, “Insurers’ Structured Securities Holdings Continue to Rise,” states that all three U.S. insurance segments grew their structured securities holdings in 2018, with property/casualty holdings up by 14.3%; life/annuity holdings by 4.1%; and health by 22.2%. Market issuance of structured securities declined marginally in 2018, by 3%, but was up 4.9% in 2017, after rising 11% in 2016 and 16% in 2015. Collateralized loan obligations (CLO) issuance dropped by nearly 5% in 2018 to $280.7 billion, but between 2016 and 2017 had more than doubled. Insurers continue to add to their CLO allocations, with industry holdings climbing consistently each of the last five years, up 28% in 2018 to $82.2 billion. The life/annuity segment holds roughly 80% of industry CLOs, and its holdings increased by 25% in 2018 to approximately $65 billion.

Other report highlights include:

  • Since 2016, the life/annuity segment has reported a decline of 7.2% in residential mortgage-backed securities, but increases of 13.1% in commercial mortgage-backed securities, and 14.9% in other asset-backed securities.
  • New issues of student loan-backed securities (SLABS) increased by 18% in 2018 to $18.9 billion, following a decline of more than 2% in 2017.
  • The life/annuity industry was the only major U.S. insurance segment to reduce its SLAB holdings in 2018, but all three increased their SLAB holdings substantially in 2017, with the life/annuity segment increasing its holdings by almost $2 billion (31%).
  • Insurers’ holdings in auto loan-backed securities remain modest, at $16 billion, as are holdings in credit-card backed securities. Exposure is minimal, and over 98% are investment grade.

Structured securities can provide bond portfolio diversification, and AM Best views allocations to various types of structured securities as it would many other traditional asset classes, and expects companies to be able to discuss their investments in detail as part of the rating process.

To access the full copy of this special report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=288181.

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EURAMI ITIC Review 2018

With the International Travel Insurance Conference Global 2018 just wrapped up, it is time for the European Aero-Medical Institute (EURAMI) to review what has been a very successful event for the whole EURAMI team.

We are pleased to say that the EURAMI booth has proven to be a great meeting place for existing and new members and has once again shown that the interest in high quality accreditation is still on the rise.  EURAMI accreditation has clearly gained traction and importance as evidenced by the numerous new providers who expressed interested in applying for recognition. 

It has been a particularly exciting week for EURAMI as the EURAMI Board elections were held during the 33rd General Assembly on Thursday, November 1st 2018. A very diverse and highly competent selection of candidates was presented to the members with different approaches and ideas for the further development of the association.

Sergio Abril and Mark Chapman were newly elected for their first term on the Board whereas Franziska Hollenstein was confirmed for her second term on the EURAMI Board. Philipp Schneider, Dr. Cai Glushak and Lisa Humphries will remain on the board to complete their term.

The selection of officers was done shortly after the election and EURAMI is delighted to announce that the Board has selected Dr. Cai Glushak as President, Philipp Schneider as Vice President and Mark Chapman as Treasurer. Dr. Glushak expressed heartfelt thanks to Dr. Laurent Taymans and Pascaline Wolfermann, outgoing president and vice-president respectively, for their extraordinary leadership and efforts to bring EURAMI to a new level during their tenure. 

A great end to a busy conference was the last evening with the Gala Dinner and the ITIJ Awards on November 1st. EURAMI is proud to announce that five EURAMI companies were among the finalists.

In the category of Air Ambulance Provider of the Year 2018 all three finalists – REVA, SARPA and Air Alliance Medlflight - were EURAMI accredited providers with Air Alliance Medflight winning the award for the second time in a row.

Air Ambulance Worldwide was able to win the Award of Best Marketing Campaign of the Year whereas fellow EURAMI provider CEGA took home the award for Assistance Company of the Year. A great achievement from our members!

The EURAMI Board & Head Office would like to thank the ITIC organizers, conference participants and of course its members for such a successful ITIC and would once again like to congratulate all ITIJ Award finalists and winners. See you in 2019 in Malta!

 

 

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Now Health International Launches New Digital IPMI Product To Cater For The Next Generation Of Expatriate

Now Health International Group, has announced the launch of a new mid-tier, completely digital product that is designed to cater for a new generation of expatriates and upper-affluent local nationals.

The company has launched its new SimpleCare plans in response to the growing number of digitally savvy millennials and younger executives moving abroad for work, who still demand the protection of international health insurance but at a more affordable price point to the traditional corporate executive expat. Now Health International also believes the plans will appeal to the growing base of upper-affluent local nationals in the emerging markets in which it operates.

To cater to this new generation of expats SimpleCare has been developed to be a completely digital proposition, with members only able to access their plan documents and make claims via a paper free, seamless online customer experience. This environmentally conscious product leverages Now Health International’s award winning digital tools including its smartphone App and secure online portfolio, as well as new mobile pass membership cards which can be downloaded into members’ smartphone wallets.

The new product offers core protection for all major health incidents including hospitalisation, surgery, cancer treatment, and evacuation and repatriation, which are often the main concern of younger expats. Customers can then choose to add low or medium levels of coverage for out-patient treatment, including physiotherapy, dental and medication if desired.

Designed for the more cost conscious consumer, the SimpleCare product offers multiple options to help customers further reduce their premium. This includes eight different levels of annual deductible for all types of treatment (in, day and out-patient) as well as risk management tools such as a co-insurance and per visit excess. Default regional geographical restrictions of coverage are also available for members located in certain countries of residence, providing a more affordable option for those that want to access top quality medical facilities but do not need worldwide coverage.

The product will be launched in key markets first, including Europe, Africa, Hong Kong and Singapore, and then be rolled out to other markets in Asia and the Middle East in the coming months.

Martin Garcia, Executive Chairman commented, “SimpleCare is designed to meet the needs of a new generation of expat - the growing numbers of younger people moving abroad, 2 most of which end up on local employment contracts. We set out to create an international health insurance solution which caters to these cost conscious, digitally literate expats while still providing them with access to world class medical facilities and the high standard of service that Now Health International is known for”.

Zahir Sharif, Managing Director for Now Health International added, “The clue is the name; SimpleCare is meant to be simple to understand and use – offering the vital health protection that our customers desire, with easy to use digital tools, access to the best quality private medical providers, and all with an affordable price tag. We understand that many expats and companies looking for executive health plans want more comprehensive, worldwide coverage, and our benefit rich WorldCare plans will continue to cater for those needs. However, we are confident our innovative new product will enable us to reach out to the growing base of younger expats globally, as we continue to consolidate our position as the leading IPMI provider worldwide”.

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HR Directors Report Rising Demand From Overseas Employees For iPMI Cover Over Past 5 Years

With many global organisations expecting to grow their global workforce in the coming years, new research from international health insurer Bupa Global reveals that businesses are adapting their approach to international health and wellbeing employee benefits.

Sheldon Kenton, Managing Director of Bupa Global, commented, “The fact that more and more employees are becoming globally mobile means that international private medical insurance is something of a non-negotiable for businesses. Companies are waking up to the fact that health and wellbeing benefits can be a real differentiator when it comes to recruitment and retention, and can meet this demand by partnering with an insurer which has a network of world class facilities, giving them access to the right care at the right time and place.”

Bupa Global carried out two extensive pieces of research with 1501 HR Directors and 1,851 globally mobile employees to understand what businesses are experiencing when it comes to the changing requirements and demand for international health and wellbeing benefits.

The research shows that a third of HR directors (32%) expect their global workforce to increase over the coming five years, with employees most likely to travel to Europe (80%) and North America (53%), followed by Asia (44%), and the Middle East (35%).

Correspondingly, there has been increased demand in the quality and quantity of health and wellbeing benefits by those who work regularly overseas. Half (52%) of HR directors report a rising demand from these employees for international private medical insurance over the past five years. A third (32%) of HR directors have also had to improve the quality of health and wellbeing benefits offered to globally mobile staff over the last decade.

International private medical insurance (IPMI) and flexible working hours are among employees’ most desired benefits, with a quarter (25%) of staff expecting more from their employer in these areas than they did five years ago. 

The research also shows that it is even more crucial that adequate health cover is in place as people progress in their career, with mental health becoming an increasing workplace concern as people climb the career ladder. When asked what health and wellbeing issues employees are likely to face as they become more senior within an organisation, HR directors listed increased stress (39%), depression (36%) and anxiety (33%) as the biggest concerns.

Despite the increasing demands and expectations, the research also highlights that there is still confusion amongst employers on the benefits that IPMI can bring. Of those who don’t provide any IPMI at all to their employees, almost half (44%) say they weren’t familiar enough with the options and requirements.

The main reasons for employers providing health cover to staff is recruitment and retention, followed by actively wanting to look after employee health and wellbeing. 79% of HR directors said providing private medical insurance is an important differentiator versus their competitors.

1 All figures, unless otherwise stated, are from Bupa Global and YouGov. Total sample size was 150 leading HR professionals across large UK-based multinational businesses and over 1,800 employees that regularly work abroad. Fieldwork was undertaken in January-February 2017. The survey of employees was carried out online and HR directors were interviewed by telephone.

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Black Friday Sale: Save £30 When You Publish A Front Page Exclusive News Story With iPMI Magazine

You are excited about a recent or upcoming development in the business and wish to announce it to the entire global international private medical insurance and health care industry: A new recruit; product upgrade; new service; attendance at an event - these are all developments iPMI Magazine readers wish to know about.

You have limited budget to distribute a press release article globally with photo, back links and promotional copy - in order to educate the industry about this important development in the business. You want front page coverage, social media promotion plus inclusion in an industry-wide email newsletter. You need to see the article everywhere.

At iPMI Magazine you are well covered as we have been providing international payors and providers with an exclusive front page news distribution service for over 5 years. Supported by our always-on global digital content delivery system, content goes further much quicker with iPMI Magazine.

Pay-As-You-Go On Demand News Distribution - Pay Online By Credit Or Debit Card

Designed for the fast-moving ever changing global IPMI industry, you may now access this service on-demand and pay as you go.

You can use a credit or debit card to settle your bill immediately meaning no waiting around for payments to clear. This leaves us to work hand-in-hand on the correct placement of the article whilst providing a space for you in the hearts and minds of our readership.

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  • 1 Press Release;
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  • To Include A Photo;
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Rate Card: Only £129-99 per article.

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International Private Medical Insurance News

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Publish A Front Page Exclusive News Story With New iPMI Magazine PR Distribution And Marketing Service

You are excited about a recent or upcoming development in the business and wish to announce it to the entire global international private medical insurance and health care industry: A new recruit; product upgrade; new service; attendance at an event - these are all developments iPMI Magazine readers wish to know about.

You have limited budget to distribute a press release article globally with photo, back links and promotional copy - in order to educate the industry about this important development in the business. You want front page coverage, social media promotion plus inclusion in an industry-wide email newsletter. You need to see the article everywhere.

At iPMI Magazine you are well covered as we have been providing international payors and providers with an exclusive front page news distribution service for over 5 years. Supported by our always-on global digital content delivery system, content goes further much quicker with iPMI Magazine.

Pay-As-You-Go On Demand News Distribution - Pay Online By Credit Or Debit Card

Designed for the fast-moving ever changing global IPMI industry, you may now access this service on-demand and pay as you go.

You can use a credit or debit card to settle your bill immediately meaning no waiting around for payments to clear. This leaves us to work hand-in-hand on the correct placement of the article whilst providing a space for you in the hearts and minds of our readership.

Features:

  • 1 Press Release;
  • To Include Your Company Bio;
  • To Include A Photo;
  • To Include Up-To 3 Back Links To Your Web Site;
  • Complete Meta Description And Meta Tags;
  • Front Page Coverage With Photo;
  • Hosted For Life;
  • Complete And Ongoing Social Media Promotion By The iPMIM Marketing Machine;
  • Emailed To Over 40,000 Active Subscribers;
  • Your Own Dedicated Content Manager;
  • Pay Online With Credit Or Debit Card.

Rate Card: Only £129-99 per article.

Get Started

Write to ipmiATipmimagazine.com and one of our news specialists will contact you directly to discuss your media requirements.

(Replace AT with @)

International Private Medical Insurance News

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Video: AXA Half Year 2017 Earnings Interview with Thomas Buberl, CEO of AXA

Thomas Buberl CEO AXA comments, "AXA delivered another strong performance in the first half of 2017 with underlying earnings per share growth of 5%, illustrating the strength of our fundamentals and the pertinence of our strategic plan, Ambition 2020.

We maintained our discipline in writing profitable business, as emphasized by our strong NBV margin in Life & Savings and by our growth in more profitable non-motor business in P&C Commercial lines. Health and Unit-Linked businesses were particularly dynamic with topline growth of 6% and 11% respectively.

We made substantial progress in improving our technical profitability in Property & Casualty. We continued to implement our efficiency strategy across the Group and are well on track to achieve our cost savings target.

AXA’s balance sheet strength has been highlighted once more by our strong solvency II ratio at 201%.

Our teams and distributors continued their engagement and commitment to our vision to empower people to live a better life. AXA has proved once again its ability to respond to profound environmental and economic change, notably by pledging to use 100% sustainable electricity and providing better protection to independent workers in the digital sector."

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The Increasing Importance Of International Private Medical Insurance For Students In The UK

iPMI Magazine Breaking News: Off to university abroad? Here's why you might want to think about international private medical insurance (iPMI) for your offspring.

It is that time of year when offers of university places start to drop into electronic mailboxes around the world. Higher education is big business now, places at UK universities are some of the most sought after in the world. These institutions will often charge overseas student annual fees of well over £25,000, so for the parents, ensuring the success of the academic investment is as significant as it is for a company sending key employees abroad.

According to the UK Council for International Student Affairs, in 2015, 436,585 overseas students came to study in the UK. The number of Chinese students far exceeds any other nationality at 89,540, whilst Indian students are the next largest group with 18,320.

Parents can learn some valuable lessons from the corporate world's experience of overseas placements, starting with why international private health insurance is so important. While social, emotional and cultural factors are likely to be of central importance in determining the success or failure of an academic placement, access to comprehensive international medical insurance is increasingly becoming a key factor for many overseas students.  With a demanding academic workload, it can be vitally important to ensure that the student overseas feels well protected when medical treatment is required. The individual must know their medical insurance is there when needed and that they will have access to private hospitals where treatment can be obtained quickly. This in turn speeds up recovery, so absence from study is minimised.

Joe Thomas, April International UK's Business Development Director observes that,  "Whilst most universities will ensure overseas students do have access to emergency and local care, in some cases, it can be quite basic. Today's overseas students, with a significant family financial investment hanging over them, will often need more than this. This is why policies that offer private care and fast access to first class treatment, such as those offered by APRIL International are now so popular in countries like the UK, where high concentrations of foreign students are located."

For the insured student, the most important factors are always the speed of access to care and the depth and breadth of the benefit schedules. Put another way, the policy should be easy to use, offer good support and ensure medical bills are reimbursed quickly. Whilst access to local state systems is usually possible, issues such as waiting times and the speed of recovery will be more important to a student paying significant fees.

Whilst many parents will think their 18 year old is in the peak of health and unlikely to suffer serious illness, research carried out amongst hospitals may serve as a timely reminder that there are plenty of reasons why an 18 year old could end up in a hospital ward.

Not all of these can be covered by insurance – the more obvious self-inflicted risks such as drink and drug related issues are not usually covered. However, many of the other common causes of hospitalisation can be insured against.

A common reason for a trip to A&E is sports injuries – anything from a sprained ankle to a more serious breakage. But these kinds of injuries can also extend to normal everyday accidents resulting from over exuberant behaviour. 

More troubling for a parent is the incidence of mental illness – without the support of a close knit family and under significant academic pressure, some students will be unfortunate enough to experience serious mental illnesses which will require specialist treatment. This kind of issue is most likely to occur around exam time, especially finals, so it is vital it is treated quickly and effectively.

Finally, for the young person who may have grown up with a chronic condition, asthma perhaps, but who up until now, has relied upon their parents to ensure medication is taken, many distractions are now available which can and do result in medication not being taken sufficiently regularly, which can trigger a relapse of the chronic condition.

APRIL International UK offers a range of standout added value benefits on all policies taken out including Best Doctors, red24 services and The Blood Care Foundation. Best Doctors gives clients access to a free second professional medical opinion, whilst red24 offers clients complimentary access to their extensive global travel and risk management services.

International Private Medical Insurance For Students In The UK

 

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Save £30 When You Publish A Front Page Exclusive News Story With New iPMI Magazine PR Distribution And Marketing Service

You are excited about a recent or upcoming development in the business and wish to announce it to the entire global international private medical insurance and health care industry: A new recruit; product upgrade; new service; attendance at an event - these are all developments iPMI Magazine readers wish to know about.

You have limited budget to distribute a press release article globally with photo, back links and promotional copy - in order to educate the industry about this important development in the business. You want front page coverage, social media promotion plus inclusion in an industry-wide email newsletter. You need to see the article everywhere.

At iPMI Magazine you are well covered as we have been providing international payors and providers with an exclusive front page news distribution service for over 5 years. Supported by our always-on global digital content delivery system, content goes further much quicker with iPMI Magazine.

Pay-As-You-Go On Demand News Distribution - Pay Online By Credit Or Debit Card

Designed for the fast-moving ever changing global IPMI industry, you may now access this service on-demand and pay as you go.

You can use a credit or debit card to settle your bill immediately meaning no waiting around for payments to clear. This leaves us to work hand-in-hand on the correct placement of the article whilst providing a space for you in the hearts and minds of our readership.

Features:

  • 1 Press Release;
  • To Include Your Company Bio;
  • To Include A Photo;
  • To Include Up-To 3 Back Links To Your Web Site;
  • Complete Meta Description And Meta Tags;
  • Front Page Coverage With Photo;
  • Hosted For Life;
  • Complete And Ongoing Social Media Promotion By The iPMIM Marketing Machine;
  • Emailed To Over 40,000 Active Subscribers;
  • Your Own Dedicated Content Manager;
  • Pay Online With Credit Or Debit Card.

Rate Card: Only £129-99 per article.

Introductory Rate: Only £99-99 per article.*

*Offer ends 1st April 2017.

Get Started

Write to ipmiATipmimagazine.com and one of our news specialists will contact you directly to discuss your media requirements.

(Replace AT with @)

International Private Medical Insurance News

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Publish A Front Page Exclusive News Story With Brand New On-Demand iPMI Magazine Digital News PR Distribution And Marketing Service

You are excited about a recent or upcoming development in the business and wish to announce it to the entire global international private medical insurance and health care industry: A new recruit; product upgrade; new service; attendance at an event - these are all developments iPMI Magazine readers wish to know about.

You have limited budget to distribute a press release article globally with photo, back links and promotional copy - in order to educate the industry about this important development in the business. You want front page coverage, social media promotion plus inclusion in an industry-wide email newsletter. You need to see the article everywhere.

At iPMI Magazine you are well covered as we have been providing international payors and providers with an exclusive front page news distribution service for over 5 years. Supported by our always-on global digital content delivery system, content goes further much quicker with iPMI Magazine.

Pay-As-You-Go On Demand News Distribution - Pay Online By Credit Or Debit Card

Designed for the fast-moving ever changing global IPMI industry, you may now access this service on-demand and pay as you go.

You can use a credit or debit card to settle your bill immediately meaning no waiting around for payments to clear. This leaves us to work hand-in-hand on the correct placement of the article whilst providing a space for you in the hearts and minds of our readership.

Features:

  • 1 Press Release;
  • To Include Your Company Bio;
  • To Include A Photo;
  • To Include Up-To 3 Back Links To Your Web Site;
  • Complete Meta Description And Meta Tags;
  • Front Page Coverage With Photo;
  • Hosted For Life;
  • Complete And Ongoing Social Media Promotion By The iPMIM Marketing Machine;
  • Emailed To Over 40,000 Active Subscribers;
  • Your Own Dedicated Content Manager;
  • Pay Online With Credit Or Debit Card.

Rate Card: Only £129-99 per article.

Introductory Rate: Only £99-99 per article.*

*Offer ends 9th October 2016.

Get Started

Write to ipmiATipmimagazine.com and one of our news specialists will contact you directly to discuss your media requirements.

(Replace AT with @)

International Private Medical Insurance News

Read more...
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