Partner for Life

Corporate News

#MakeLifeEasier
GB Life Luxembourg launches ePlatinum, a brand-new solution that is 100% digital and simplifies the life insurance processes.

ePlatinum is designed to make life insurance easier, inspired by our partners’ and clients’ needs. It is a unit-linked solution integrated on our digital platform allowing the policyholder to benefit from the performance of the financial market. It is 100% digital from the subscription until the end of the contract, allowing the use of digital signature and automated workflows that avoid processing delays which can impact the partner and the customer experience.

Unlike the traditional approach, ePlatinum offers only the best performing funds in the market with institutional and clean share classes. This reduces the overall cost to the customers so they can obtain higher return over a longer period.

“At GB Life, we want to make life insurance easier. With the new end-to-end digital platform, we use that to sit down with our clients and partners to redesign the value chain and to really make sure we answer all their needs.” said Pieter Coopmans, CEO of GB Life Luxembourg. “With this new platform we manage to introduce new digital tools that really make their life easier.”

ePlatinum is currently available for Belgian and Italian residents. For more information you can contact:

Philippe Lenaers
Country Manager Benelux
Philippe.Lenaers@gblife.lu
(+352) 27 05 49 69

Daniela Panaccia
Head of Business Development Center
Daniela.Panaccia@gblife.lu
(+352) 27 05 81 14

SFCR2018-GBLife

Pieter Coopmans, Chief Executive Officer, and the Management Team of the company are delighted to publish our Solvency and Financial Condition Report for 2018. This report allows our clients, business partners and stakeholders to be informed of the performance and main accomplishments of the company in 2018.

The Report has been prepared as required by Articles 51 to 56 of the Solvency II Directive (2009/138/EC) as amended by the Directive 2014/14/EU (the “Directive”) and Articles 290 to 302 of the Delegated Regulation 2015/35 (the “Delegated Regulation” or “DR”). It has been developed in accordance with the Solvency II Regulations governing insurance group reporting, and is solely intended to fulfil the requirements thereof.

Read our 2018 Solvency & Financial Condition Report “SFCR”

“Insurtech, Fintech, they are the Future and customers and distribution partners will like them.” Is it the Future?

This is reality and available today at GB Life! And indeed, our customers and distribution partners use them already and like them. At GB Life Luxembourg Life, the digital signature for subscriptions, switches and other operations on life insurance contracts is used and provides a great customer experience! Fast, digital processing clearly increases efficiency and customer satisfaction.

We thank our digital pioneers, and Ronald Joosten and Jose Bustillo in particular, for this fully digital process. At GB Life we make life insurance easier!

Eager for more information? Follow us on LinkedIn.



We put all the necessary resources in place to build and maintain our partnerships

How do we build solid partnerships? We involve all the necessary resources, working in the different departments, and listen to the specific needs of our business partners personally.

 

 

Sometimes we receive requests, perhaps on matters that are not within our competence or in our standard way of working, which require further clarifications and details. The most effective way to understand them is to meet the applicant in person and ask for support from someone who has the right expertise about the subject.

At GB Life we use the same approach but in a more zealous way: we periodically organize mini road shows to meet our partners, involving the right specialists to listen to the specific problems and requests, analyse them and discuss possible solutions together.

Following the latest mini roadshow, our Head of legal, Nicoleta Glodean, reported: “the open discussion we had with our counterparties allowed us to immediately identify the opportunities to develop a win-win solution” .

Nicola Troilo, from  the Marketing department added: “the interesting interactions demonstrated how important those meetings are to understand our business partner’s needs. A successful business relationship is based 20% on administration topics (products, documentation, etc), 30% on client servicing and 50% on interactions between the 2 actors”.

The business partner’s Head of Client stated: “talking directly to Daniela Panaccia, the Head of Client Service, herself allowed us to explain clearly and in detail what we were expecting from them.

By bringing together people who speak the same language, counterparties who understand the most intrinsic aspects and details, we establish a relationship of trust and mutual understanding. A simple, effective and efficient way to build partnership.


Contact us to learn more about the advantages of establishing integrated partnership with us.

 
GB Life Luxembourg’s CEO, Pieter Coopmans, announces the appointment of Marc Stevens as Chief Marketing and Distribution Officer.

 

 

International Life Insurance is transforming fast: customer expectations, regulatory changes and technology developments are influencing the business models of distributors and insurance companies. GB Life Luxembourg’s vision is to make life insurance easier for partners and customers in this challenging environment. In this context, Marc Stevens’ appointment is another important step in delivering on this vision and accelerates the execution of GB Life Luxembourg’s growth strategy.

Marc Stevens has a long-standing international experience in the insurance industry. He has held various positions during his career, in particular as Sales and Marketing Manager for Ohra Leven/Delta Lloyd Life in Belgium, as General Manager of Vitis Life and most recently as CEO of OneLife Luxembourg.

“We are pleased to welcome Marc Stevens as a member of our Management Team. His experience in the cross-border life insurance business, specifically in our core markets, will support our growth ambition. With his track record in marketing, communication and digitalization he will play an important role in executing our new strategy”, stated Pieter Coopmans, CEO of GB Life Luxembourg.

The GB Life charity team is pleased to launch various fund-raising events. On this occasion, we are proud to support Movember.

We are doing this multinational charity aiming to raise awareness and money for men’s health focusing on prostate cancer, testicular cancer, mental health and suicide prevention.

Our team took part by growing their Moustache, and doing the Move this Movember challenge.

Join our movement by visiting our Mo space and donate.

Movember is the only charity tackling men’s health on a global scale, year round. They are addressing some of the biggest health issues faced by men: prostate cancer, testicular cancer, and mental health and suicide prevention.

Why men’s health?

The state of men’s health is in a crisis. Simply put, men are dying too young.

Gender is one of the strongest and most consistent predictors of health and life expectancy. For men, this is not good news. On average, across the world, men die 6 years earlier than women.

Moreover, suicide affects men more than women: three quarters of suicides are by men. The World Health Organisation estimates that 510,000 men die from suicide globally each year. That’s one every minute.

Learn more about Movember here

Our generous sponsor

Njörd is a Nordic inspired food concept, offering homemade, healthy & enjoyable food. We cook everything home made, every morning, with a wide range of recipes: fish, meat, veggie or vegan.

What makes Rawdish so unique is that it has been developed for a real customer, not willing to trade taste for calories but looking for unprocessed healthy take away options with all characteristics of mother nature’s homemade kitchen.

GB Life Luxembourg’s Chief Legal and Compliance Officer (CLCO), Gaëlle Leclaire, is pleased to announce the appointment of Nicoleta Glodean as Head of Legal.

 

 

In line with the company’s growth strategy which includes attracting new talents, Mrs. Glodean will contribute to achieving the company objectives by bringing more than 10 years of experience in the Legal department of a well-known company in Luxembourg with her.

CLCO, Gaëlle Leclaire, said: “I am delighted that Nicoleta Glodean joins GB Life Luxembourg. Nicoleta will play a leading role in the company as she will manage the Legal team and will be the main representative of the company in all communication with the regulators in our core markets. She will support the company’s wealth management activity with legal and tax advice while ensuring delivery on regulatory projects.”

Mrs. Glodean (Romanian, 39 years old) graduated with a Master degree in International Private Law and International Commerce and another Master in International Administration from the Université Paris I Pantheon Sorbonne.

The GDPR – the Europe’s General Data Protection Regulation – has entered into force on May 25th 2018. You have probably already heard about it.

What is it?

The GDPR is a European regulation that aims to give citizens more control over their personal data, to make companies more responsible and to reinforce the role of local data protection authorities. The GDPR will apply directly in all member states to any organisation processing personal data, whether from its customers, its employees or even its service providers. It will update and modernise the previous rules in force dating back to 1995, as a result of globalisation and the emergence of new technologies over the last 20 years.

What does it mean for you?

Your privacy is very important to us. Our aim is to process your personal data in a manner that is lawful, appropriate and transparent. In our Privacy Notice, we explain which of your personal details we collect from you as a natural person, how they are processed and the purposes for which GB Life Luxembourg uses those data. The Privacy Notice also contains more information about your privacy rights and how you can exercise them. To know more about the Luxembourgish privacy legislation on the website of the Luxembourgish Data Protection Authority (CNPD), please visit www.cnpd.public.lu.

GB Life Luxembourg publishes its 2017 Solvency and Financial Condition Report (SFCR).

Read 2017 Solvency and Financial Condition Report

Pieter Coopmans, Chief Executive Officer, declares: “I am delighted to make available to our clients, business partners and other stakeholders our Solvency and Financial Condition Report for the year 2017, which was a pivot year for our Company, with the acquisition by an affiliate of Global Bankers Insurance Group and the rebranding into GB Life Luxembourg.  The Report highlights the changes that occurred subsequently to the change of ownership, in particular the appointment of a new Board of Directors and the strengthening of our Management Team and internal organization.  While the shareholder and the name of the Company have changed, the Report shows that the fundamentals of the Company – such as the robustness of the System of Governance, the Risk Profile and the Risk Appetite – have not.  Keeping in place the fundamentals that we inherited from our previous shareholders – ING Group and NN Group – and ensuring full compliance with the Solvency II regulation are the basis of our solvency and financial condition.”

Christophe Hucque, Chief Financial Officer, comments: “In addition, I am also pleased to share with our clients, business partners and other stakeholders that our solvency and financial condition improved in 2017.  This improvement is the result of a continuous, consistent and rigorous application of our financial and risk management best practices as well as a direct consequence of the change of ownership.  Our solvency ratio improved from 141% to 201% in 2017, thanks in particular to an injection of capital from the new shareholder.  Profitability was also restored in 2017, in spite of the operational and financial burden related to the change of ownership.  The 2016 financial performance was indeed materially impacted by de-risking measures taken on our long-term guarantee portfolio and I am pleased to see that our financials now benefit from these management actions.”

The Report has been prepared as required by Articles 51 to 56 of the Solvency II Directive (2009/138/EC) as amended by the Directive 2014/14/EU (the “Directive”) and Articles 290 to 302 of the Delegated Regulation 2015/35 (the “Delegated Regulation” or “DR”). It has been developed in accordance with the Solvency II Regulations governing insurance group reporting, and is solely intended to fulfill the requirements thereof.

Marc Stevens

Chief Marketing & Distribution Officer (CMDO)

Marc Stevens has extended experience in international insurance industry. Before taking on the role of Director of Marketing and Distribution at GB Life Luxembourg in November 2018, he worked for ABB Insurances and OHRA Leven (Delta Lloyd Life) where he was Commercial Director. Following that, he was General Manager at VITIS LIFE and then CEO of OneLife Luxembourg. He is a visiting professor for the Master’s in Personal Financial Planning course at the Management School of the University of Antwerp. Marc holds a Master’s degree in criminology from the Catholic University of Louvain and a postgraduate diploma in Marketing from the Business School of the University of Antwerp.

José Bustillo

Chief Operations Officer (COO)

José Bustillo has a long-standing experience in managing and auditing complex and large projects in back-office operations environments. He joined GB Life Luxembourg in 2017 as Chief Operation Officer after more than 30 years of experience in the financial industry among others with Euroclear. Prior to joining GB Life Management Team, José was a partner with a risk management specialized consultancy firm, now part of McKinsey & Company. His main focus was on Solvency II. José holds a Civil Engineering degree from the Université Libre de Bruxelles.

Gaëlle Leclaire

Chief Legal & Compliance Officer (CLCO)

Gaëlle Leclaire has 20 years of experience in the life insurance sector. She started her career as a financial auditor in France before moving to Luxembourg. She has previously worked for Mazars, PWC and ABN AMRO Life S.A.. She joined GB Life Luxembourg in 2008 and joined the Board in 2009 as CFO. She took over the position of COO in 2015, where she was also responsible for Product Management. In 2017, she recently took over the position of Chief Legal and Compliance Officer within GB Life Luxembourg. Gaëlle is graduated from a Business School and has professional certification in Accountancy and Finance.

Will Romero

Member of the Board

Will has served in leadership positions at Financial Guaranty, Benfield, Swiss RE, Ernst & Young and New York Life. Most recently, he created Factor Re, a low cost and efficient financing vehicle for the embedded value in life insurance blocks. Will holds a B.A. with honors from Yale University, a J.D. from the University of Colorado, and an LL.M. in Taxation from New York University.

Matteo Castelvetri

Member of the Board

Matteo spent 19 years in Investment Banking at Morgan Stanley and Goldman Sachs. As a Managing Director of Morgan Stanley’s Financial Institution Group, he led the European Insurance effort and held primary coverage responsibility for several European large cap insurers. He has advised on over 50 transactions and has originated and executed some of the most prominent insurance M&A events, restructuring and IPOs in Europe. Matteo started his career at Goldman Sachs as a government bond and distressed debt investor first and then as an advisor to banks and insurers. He received a summa cum laude Bachelor Degree in Economics from Bocconi University in Milan and also holds a Bachelor Degree in Classical Guitar.

Lou Hensley

Vice-Chairman of the Board

Lou has over 25 years’ experience in the insurance and reinsurance industry, most recently at Genworth Financial where he served in the roles of President of Life & Annuities and Chief Commercial Officer. He also spent ten years as a senior vice president with Wells Fargo & Co. and was executive vice president of Wells Fargo’s Bermuda-based reinsurance subsidiary, Union Hamilton Reinsurance, Ltd. He was instrumental in helping Union Hamilton grow from a start-up to a multi-billion dollar reinsurance company. He joined Wells Fargo and Union Hamilton as a result of Wells Fargo’s acquisition of Pivot, a leading insurance-focused technology and financial information services company of which he was co-founder and President. He holds a B.S. in Actuarial Science and Accounting from Ball State University.

Victor Rod

Chairman of the Board

Victor Rod earned a law degree at University of Nancy (France) in 1973. After a short period as an attorney at the Luxembourg bar, he served as secretary general of the Luxembourg insurance companies association (ACA).

In 1980 he was appointed first full time director of the Luxembourg insurance supervisory authority (Commissariat aux assurances). He has been the longest serving head of an insurance supervisor in Europe until his retirement on 31.12.2014

Victor served as Alternate Chair of the European Insurance and Occupational Pension Authority (EIOPA) headquartered in Frankfurt since its inception until his retirement.(2010 – 2014)

He was also Luxembourg’s delegate at European Insurance and Occupational Pension Committee (EIOPC) in Brussels and a member of the executive committee of the global standard setter in insurance matters International Association of Insurance Supervisors (IAIS) in Basel.

Victor served as a chairman of a Luxembourg Bank for 25 years. In addition to serving as chairman and independent director of GBLife, Victor is sitting on the board of a large domestic retail insurance company and he has a 20 years experience as a non-executive board member of World’s largest satellite operator.

Since 2015, Victor serves as Of Counsel with Luxembourg’s largest independent law firm Arendt & Medernach (A & M) where he mainly advises on insurance and reinsurance legal, regulatory and technical matters.

Christophe Hucque

Chief Finance Officer (CFO)

Christophe Hucque has an extensive experience in the insurance domain. Christophe joined GB Life Luxembourg (formerly ING Life Luxembourg) in 2000 as Actuary. Since 2006, he has covered several leading position within GB Life Luxembourg. He joined the Management Team in 2006 as CFO/CRO. Between 2007 and 2009, he combined the CFO position for both ING Life Luxembourg and ING Variable Annuities Europe (The Hague, NL), dealing with the Europe-wide roll-out of the Variable Annuities product suite. Christophe moved to the COO position in 2009 where he was also responsible for Product Management and the commercial relationship with ING Bank. He has been back in the CFO position since 2015, also responsible for Risk between 2015 and 2017. Christophe holds several degrees in Mathematics and in Actuarial Sciences.

Pieter Coopmans

Chief Executive Officer (CEO), GB Life Luxembourg

Pieter Coopmans has over 20 years of experience in the insurance and banking industries, in different leadership positions. Before joining GB Life Luxembourg in 2012 as Chief Executive Officer and Dirigeant Agréé, he held management/executive roles in leading financial service providers such as NN Group, Zurich Financial Services, SNS Reaal and ING Group. Pieter has played a key role in the disentanglement and rebranding process of GB Life from the ING/NN Group and the repositioning of the company in the cross border life insurance space. Under his responsibility, the leadership team prepared and executed the sale of GB Life to an affiliate of Global Bankers Insurance Group in 2017. Pieter holds a Bachelor in BA from European University and a Master in BA from Nyenrode University in Breukelen.