Published 02/09/2010 in Health Insurance and Protection Magazine.

Global health services company CIGNA has acquired international private medical insurance (iPMI) provider Vanbreda International for an undisclosed sum.

The deal means that the companies’ global expatriate joint customer base stands at over 700,000.

Vanbreda – which over the past year has stepped up its marketing efforts in the UK intermediary market – specialises in the provision of worldwide medical insurance and employee benefits to intergovernmental and non-governmental organisations, including international humanitarian operations, as well as corporate clients.

The insurer – which is based in Antwerp, Belgium and has over 400 employees – will continue to operate as an independent business under the existing leadership of chief executive officer Rudi Bertels and chief operating officer Wouter Reggers.

William Atwell, president of CIGNA International, said Vanbreda International’s “strong presence” in Europe complements CIGNA’s position in providing expatriate benefits primarily to corporate clients in North America, as well as Europe and Asia.

The acquisition also represents a move by CIGNA International to develop as an individual iPMI provider, since Vanbreda has a growing portfolio of international individual business.

“There is little overlap between our current businesses and capabilities, bringing mutual opportunity to both,” Atwell said.

Source: www.hi-mag.com/healthinsurance

This entry was posted on Friday, September 3rd, 2010 at 3:48 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.