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Private Medical Insurance News - Insurance Industry Mergers and Acquisitions News

Friday, 10 August 2012 13:20

On Monday 16 April, APRIL, through its international holding company, acquired 100% of the shares of UKbased MediCare International from LONMAR Global Risks. MediCare International is a wholesale broker specialising in health insurance for expatriates. The company currently generates sales of €2m with a portfolio of retail and corporate clients and has ten employees. MediCare International markets its policies both directly and through a network of 100 brokers in around fifteen countries, mainly in the United Kingdom and Switzerland. MediCare International is a spin-off of a stand-alone business of brokerage firm LONMAR Global Risks, which had acquired it in 1993.

With this project, MediCare International will have an opportunity to take an important step forward with new growth prospects by joining a group with a firm standing in the health insurance field, both in France and abroad. This merger is perfectly in line with APRIL’s international deployment strategy, aiming to build a leading global network revolving around travel and expatriate insurance and assistance.

In this respect, the deal offers many advantages. As a complement to APRIL Medibroker, the group will now have a UK & international management platform for its clients and will be in a position to tap more extensively MediCare International’s access to Lloyd’s offering of personal insurance solutions while strengthening its international network of specialised brokers to market its offers. MediCare International will be consolidated in the group’s accounts as from the second quarter of 2012. APRIL (Compartment B, Deferred Settlement Service) employs 3,830 people in 33 countries and provides services to more than 6 million policyholders.

Sales for the first quarter of 2012 will be announced on Monday 30 April at market close.