Global health care benefits provider Aetna International has announced that it has acquired the Canadian Insurance Company Limited, and is now licensed to offer health insurance in Hong Kong. The license allows Aetna International to market its products and services solely under the Aetna brand.
Aetna has a long history in Asia; in 2007, it started its journey as a specialist health insurer in Hong Kong, via its acquisition of Goodhealth. Derek Goldberg, Managing Director, Asia Pacific for Aetna International, commented, “This expansion is very much in line with our global strategy to go ‘broader and deeper’ into local health care markets – bringing high quality and affordable healthcare to more people in Asia. Our new licence offers new opportunities for us to develop an enhanced proposition for the Hong Kong market, taking the best of our global expertise and pairing that with our local knowledge.”
Hong Kong has one of the most developed insurance markets in Asia, and its per capita insurance premiums are among the highest in the region. Aside from rising general affluence, its close ties to Mainland China and imminent introduction of a Voluntary Health Insurance Scheme is likely to lead to the creation of new segments of insurance customers, presenting an opportunity for product innovation.
Kevin Jones, Aetna International’s Country Manager for Hong Kong, is proud of the efforts the team has made to bring this all together: “We’re excited about the potential that Hong Kong presents, with its stable governance and innovation focus. The high awareness and familiarity with insurance products in this market makes it a prime one for us to introduce new and unique health cover options.”
In July 2017, Aetna International announced its acquisition of Bupa Thailand, which followed the launch of its Asian Innovation Hub in Singapore in 2016, established to develop region-specific health solutions tailored for local markets in Asia.
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