Hartford, Conn.-based Aetna says it has agreed to buy InterGlobal, a UK-based health insurance company, from a group led by its majority shareholder Alchemy Partners. Terms of the transaction were not disclosed.
“The addition of InterGlobal to Aetna’s international business will expand our footprint in fast-growing geographies, increase our membership and enhance our international penetration with individual, small and mid-sized business customers,” commented Mark Bertolini, Aetna chairman, CEO and president. “This acquisition will increase our presence in the marketplace for international private medical insurance where growth is being driven by dynamics such as the continued globalization of companies of all sizes, the growing population of high net worth individuals in emerging economies and reform efforts by governments around the world to increase access to health care.”
InterGlobal has more than 65,000 members, which will be added to Aetna International's 500,000.
“InterGlobal is well-established in the high-growth private medical insurance regions of the Middle East, Asia and Africa through a distribution model that incorporates local strategic partners and its own licenses," added Aetna International president Richard Di Benedetto. "These strategic arrangements will allow us to offer our health care solutions locally to customers in about a dozen additional countries in those regions."
Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, distribution, core systems, customer interaction, and risk ... View Full Bio