At the beginning of May, Norwegian network partner Vital hosted a broker forum in Oslo for 75 intermediaries to update them on changes to the employee benefits landscape.
Norway is currently in the middle of a major review of pension and social security provisions, with changes due to be implemented in 2011. As Vital is Norway’s largest life and pension insurer, it is naturally a leading contributor to the process.

Social security reform: more flexibility

Participants at the forum heard from Vital Chief Actuary Egil Heilund, who sits on the Reform Committee, and gave delegates a preview of some of the main themes, which include increased flexibility for partial pension withdrawal while working, and flexible retirement between the ages of 62 and 75.

Explaining the changes Vital is making to its systems in anticipation of the new social security rules, Vital actuary Trond Nondal made it clear that clients’ needs will continue to be met and exceeded as the benefits landscape becomes more flexible. Delegates also learned about Vital’s investment policy and that of their parent company DnB NOR, which has outperformed the benchmark Oslo Stock Exchange for 12 years in a row, clearly adding significant value for Vital’s policyholders.

New Swiss Life expatriate solution
Turning to more international matters, Dale Fleet of the Swiss Life Network presented the new expatriate solution Swiss Life Expat Select, whose modular approach, simplified administration, and web-enabled features will enable superior products and services to be delivered more efficiently, thereby benefitting employers and employees alike.

Tom Rathke, CEO of Vital, ended the day by highlighting Vital’s cooperation with the Swiss Life Network as an important part of its service to brokers and clients, and welcoming the new expatriate product.