Employee Benefits

MAXIS Global Benefits Network is enhancing its MAXIS global pool solution to include a multi-employer pool (MEP).

The adoption rate of international employee benefits programmes reinsured by captives is accelerating, while Aon hopes its new cell option for EB will widen accessibility further.

In this GCP Short we provide a deeper dive into the employee benefits protected cell captive solution launched by Aon.

Aon has launched its Employee Benefits (EB) Cell Captive facility, allowing insureds to reinsure global benefits programme through protected cell within one of Aon’s White Rock cell companies.

Potential cost savings and improved benefits plans for employees are the two biggest drivers behind the growing trend of companies utilising captives to reinsure international employee benefits programmes.

A growing number of medical stoss loss (MSL) group captives are forming in the United States, though a shift is expected over the coming years with groups becoming more restrictive on membership, according to Andrew Berry, president at SRS Employee Benefits.

While the commercial insurance market is beginning to soften for businesses in the legalised cannabis sector, captives continue to provide a popular option for risks that remain challenging such as liability and property.

There is a growing number of companies, particularly in Europe, with a decentralised structure successfully reinsuring employee benefits in captives, according to Aaron Brown, regional director for business development in EMEA at MAXIS Global Benefits Network.