Merger and acquisition mania swept across the international private medical insurance industry in 2015 driven by various market factors at home and abroad.

Congratulations to Healix International on the acquisition of Capita Global Assistance. The story was the most popular published under the Mergers and Acquisitions News section. Other mentions include Aetna, Humana, Willis, PMI Health Group, AIG, ING Employee Benefits, ABRY, International Medical Group, Simplyhealth, AXA PPP Healthcare, Anthem, Cigna, ACE, Chubb, Chase Templeton and Atlas Consulting.

At International Private Medical Insurance (iPMI) Magazine we followed the insurers' appetite for scale with the following 10 news stories proving most popular to our global audience:

Healix Acquires Capita Global Assistance

Aetna To Acquire Humana For $37 Billion

Willis Drives Human Capital And Benefits Presence In UK Through Acquisition Of PMI Health Group

AIG Acquires Controlling Stake in ING Employee Benefits Global Network; Renames To AIG Global Benefits Network

ABRY Completes Acquisition of International Medical Group, Inc.

CMA Clears Simplyhealth’s Sale Of Private Medical Insurance Business To AXA PPP Healthcare

Anthem Announces Definitive Agreement To Acquire Cigna Corporation

Willis Group Completes Transaction With Miller To Form A Leading London Wholesale Specialist Insurance Broking Firm

ACE To Acquire Chubb For $28.3 Billion

Chase Templeton Acquires Employee Benefits Specialists Atlas Consulting

APRIL UK is set to make significant changes to the way their private medical insurance claims are handled, which they believe will offer policyholders an improved claims experience and faster access to policy benefits.

The Bristol based provider has announced that from 1^st September 2015, Healix will take over as the claims handler on their range of private medical insurance plans, including their inSpire PMI Plan.

One of the key enhancements that Healix will offer is a telephone based claims service. APRIL UK policyholders will no longer have to complete a claim form. Instead they can provide details of their claim over the phone to Healix, who can provide immediate authorisation for the initial consultation to take place.

Furthermore, Healix will also adopt a ‘direct to diagnostic’ approach, which aims to provide policyholders with faster access to hospital tests and scans. Where appropriate, Healix will grant authorisation for a hospital test or scan following a GP referral, without the need for an initial consultation with a specialist first.

Isaac Lam, Business Development Director at APRIL UK commented, “For us, it’s paramount that our policyholders get fast access to their healthcare benefits, without unnecessary delay and paperwork. We are delighted to have Healix on-board, their reputation in the market speaks for itself. Not only will they streamline our process, but ensure a smooth customer journey once a claim is underway.”

Bruce Eaton, Managing Director at Healix Health Services commented, “Having claims managed by nurses means we have skilled people on the telephone who are able to evaluate the claim and provide authorisation there and then, avoiding unnecessary delay. At the same time they are able to provide the claimant with informed advice and support if needed.

“We are very excited about working with April UK and are looking forward to helping them provide a superior claims experience for their policyholders.”

Oliver Jones, Broker Development Manager at APRIL UK commented, “Working with brokers on a daily basis, one of the constant feedback points I get is regarding our paper-based claims process. With Healix, we can finally remove this archaic process and become paperless which will really show our statement of intent.”

APRIL UK remain optimistic about continued growth as they embark on a series of investments this year, designed to improve broker experience and their overall proposition.

Now Health International has announced details of their WorldCare product and premium review effective from 1 August 2015.

Now Health’s benefit review enhances the company’s WorldCare product proposition by providing enhanced discounts and additional benefits, whilst keeping premium increases to a minimum.  Premiums for business underwritten in the Europe branch will be increasing by only 2%*.

As part of the review, Now Health is offering a 10% introductory discount for new individual customers in their Europe and Global branches**. This discount is available up until 31 December 2015. 

In addition to this:

• To compliment the existing 20% co-insurance option, a new 10% out-patient co-insurance will be available subject to a discount of 5%.

• UAE and Hong Kong residents will be able to access cashless out-patient direct billing for a lower cost than the nil excess via a new Restricted Network option.

• Continued Personal Medical Exclusions (CPME) will be available for groups of five or more employees for plans based in the Europe branch.  This new way of underwriting is sometimes referred to as ‘no worse terms’ or ‘protected underwriting terms’.  CPME allows groups to change their IPMI cover from one provider to another, carrying over their cover with no new medical exclusions.

For business written in Singapore and China, a brand new No Claims Bonus feature has been introduced and will reward customers who do not claim. Designed to offer year-on-year savings, the No Claims Bonus offers an automatic 10% discount on renewal providing no claims have been made and a 15% discount over two or more subsequent years.  Claims made under the routine dental benefit will not affect the No Claims Bonus.

Around 133,665 British nationals visited the Philippines in 2014. Most visits are trouble-free. Take out comprehensive medical and travel insurance before you travel to the Philippines.

With effect from June 2015, all Philippine airlines are allowed to operate in European airspace. 

The FCO can’t offer advice on the safety of individual airlines. However, the International Air Transport Association publishes a list of registered airlines that have been audited and found to meet a number of operational safety standards and recommended practices. This list is not exhaustive and the absence of an airline from this list does not necessarily mean that it is unsafe.

A list of incidents and accidents can be found on the website of the Aviation Safety Network.

In 2009 the International Civil Aviation Organisation carried out an audit of the level of implementation of the critical elements of safety oversight in the Philippines.

India Network announced today that all policy holders of India Network Health Insurance programs would be automatically covered for accidents and medical problems during their travel from the home country to the United States, Canada or Mexico. Policy holders must purchase the insurance on or before they embark on their journey to avail this coverage. Typically, visitors traveling from India start the coverage one or two days before their arrival in the United States, Canada or Mexico to avail this benefit.

India Network offers comprehensive insurance plans that limit individual exposure by availing network negotiated rates for services and pay 80% for such covered service. The second set of plans are known as scheduled benefit plans or fixed benefit plans that reimburse policy holders or provides a predetermined amount for each covered service. A special feature of India Network Health Insurance programs is that they also cover pre-existing conditions for both inpatient services and outpatient services.

Dr. KV Rao, President, India Network Foundation, said that the travel insurance coverage is very important for visitors traveling to the United States or Canada. Recently, an elderly person insured by India Network Health Insurance was injured during travel. ACE American Insurance Company, the underwriter ofIndia Network programs is helping the policy holder just because they choose to purchase the plan covering the travel date.

Life Expectancy in India is slowly increasing. Life expectancy at birth for women was 67.7 years and it was 64.6 years for men. Longer post retirement time creates several health problems for elderly visitors. Several health conditions such as diabetes, blood pressure, etc. go undetected for years. India Network today offers plans to cover pre-existing conditions to help those elderly with medical conditions that they may or may not know. Many other insurance plans often reject any claims for these elderly visitors under pre-existing medical coverage exclusions.

India Network advises everyone traveling to the United States to take the best medical coverage. Only proper medical insurance with pre-existing conditions coverage can help visitors with any unexpected medical problems during their overseas stay. It is very important to understand the definitions and exclusions in various plans. India Network Health Insurance is the only that treats pre-existing conditions on par with new problems and accidents and premiums are bit higher than other plans due to this improved coverage.

National Flood Services, a division of Affinity Insurance Services, Inc., is introducing a revolutionary line of private flood insurance products, delivered via the FloodChoice^SM agent system, which unlocks new options for consumers and insurance agents looking for a simplified, cost effective way to address flood risk. These programs complement NFS’s relationships with Write-Your-Own insurance companies participating in the National Flood Insurance Program (NFIP).  NFS is the NFIP’s largest processor, with $2.2 billion in premium and three million policies.

“We believe our new private product suite changes the way consumers and agents view flood insurance,” said John Dickson, president of Advanced Insurance Coverages, Inc., a unit of NFS. “This product line directly responds to coverage gaps and time-consuming underwriting struggles that have affected both consumers and agents.”

The FloodChoice platform simplifies the processes for agents while offering consumers the most extensive private flood insurance coverage options available. The suite includes three core products:

• EZ Flood^SM is a simplified alternative to the NFIP that offers up to $750,000 in building and $200,000 in content coverage for single family residential homes. The application process is streamlined to only a handful of underwriting questions and does not require an elevation certification or photographs. Competitively priced, EZ Flood is lender accepted, has “A” rated financial backing and does not have a waiting period.

• Excess Flood offers coverage for residential and commercial properties above the NFIP maximum payout limits. The product includes up to $5 million of coverage (buildings and contents combined) for properties with replacement cost value of up to $10 million. Excess Flood is not available for condominiums or properties located in Alaska, Kentucky and New York.

• FloodWrap^SM works in tandem with an NFIP policy to help address coverage gaps. Available in all flood zones for single and two- to four-family homes, it offers coverage for basements and basement contents, additional living expenses, golf carts and trailers, and septic system pumping. FloodWrap also provides higher limits for decks, loss avoidance coverage, and optional excess building limits (up to $500,000 above NFIP limits).

“Flood is the number one natural disaster in the United States, impacting millions of Americans each year,” Dickson said. “This new private flood product suite offers homeowners peace of mind by delivering the most complete solution currently available.”

For more information on the private flood insurance product suite, please contact 1.888.281.0684 or visit www.privatefloodchoice.com.

AXA have announced that it has reached an agreement with Simplyhealth to acquire its private medical insurance (PMI) business, subject to approval by the appropriate authorities.

Simplyhealth has been operating in the UK PMI market for 13 years.  Employing around 400 people in Bristol, it provides health cover for over 200,000 people, individually and through its SME and corporate customers.

The acquisition will further strengthen AXA’s presence in the UK healthcare market and clearly evidences its continuing commitment to being the preferred provider in each of its key strategic business areas.  

Keith Gibbs, Chief Executive, AXA PPP healthcare said, “With its well balanced, stable book of business, Simplyhealth’s PMI business will be an excellent addition to AXA PPP healthcare and this agreement has presented a rare opportunity to acquire complementary business in the UK.  Both companies share a commitment to offering outstanding customer service, supporting their local communities and being an employer of choice. We look forward to working with Simplyhealth and its intermediary partners to ensure a smooth transition providing excellent service and continuing cover for all individual and business customers.”

Romana Abdin, Chief Executive of Simplyhealth said, “This is a deal that makes sense for both sides. The sale of our PMI business will accelerate Simplyhealth’s strategy of investing in everyday healthcare, addressing the everyday conditions that stop people from making the most of life.  AXA PPP healthcare has a long-term commitment to the PMI market and this sees them acquiring a business with well-aligned values and great customer service standards. We are delighted to have found a good home for our customers and people in AXA PPP healthcare.”

Under the terms of the agreement, nearly all of Simplyhealth’s 390 Bristol employees will transfer to AXA PPP healthcare under a TUPE arrangement, in addition to a small number of Simplyhealth employees based at other Simplyhealth locations in the UK.  The PMI business will continue to operate from its Bristol premises, which AXA PPP healthcare is acquiring as part of the transaction.

Jelf, an independent full service UK based brokerage that supports businesses and individuals, announces its interim results.

Financial highlights 

Strong financial performance continues:

• Revenues 11.0% ahead of last year at £43.7m (2014: £39.3m)
• EBITDAE pre-share costs increased by 24.6% to £8.1m (2014: £6.5m)
• EBITDAE margin pre-share costs increased by 12.3% to 18.5% (2014: 16.4%)
• Fully diluted Earnings per Share increased by 12.8% to 1.67p (2014: 1.48p)
• Interim maiden dividend of 0.8p

The business continues to be cash generative and £2.5m of debt has been repaid early:

• Net debt is £27.6m (excluding deferred consideration net debt is £15.2m) compared to net debt of £13.1m (excluding deferred consideration net debt is £8.9m) at 31 March 2014 reflecting the acquisition of The Beaumonts Insurance Group in December 2014.

Operating highlights

• Organic growth achieved of 4.2% (excluding the impact of acquisitions)
• The Insurance business EBITDAE has increased by 18.2% to £5.3m (2014: £4.4m)
• Employee Benefits EBITDAE has increased by 27.2% to £1.7m (2014: £1.4m)
• Financial Planning EBITDAE has increased by 167% to £299k (2014: £112k)
• Margins continue to improve whilst at the same time investment continues to be made in both sales capability and infrastructure
• Jelf Insurance Partnership delivered £5.2m of revenues (2014: £4.7m) and £762k of EBITDAE (2014: £550k). It is on track with expectations and capturing the expected synergies of the acquisition
• The Beaumonts Insurance Group, acquired in December 2014, is trading strongly and capturing the acquisition synergies ahead of expectations
• Awarded Investor in Customers highest ‘3 Star’ accolade for client service for the third year running

Commenting on the results Alex Alway, Group Chief Executive, said, “I am pleased that all our businesses are trading strongly and outperforming last year and we expect to continue this trend in the second half of the year. Our acquisitions are integrating well into the Jelf business and delivering positive benefits.”

Cigna (NYSE: CI) has named Javier Cano as Managing Director of its Global Health Benefits business in Europe to ensure the growing number of globally mobile customers benefit from Cigna's global capabilities and local expertise. 

Cigna Global Health Benefits is a leading provider of group healthcare and employee benefits solutions for globally mobile employees of small, medium and large businesses, multinational corporates and IGOs/NGOs. We are a truly international organisation with operations in more than 30 countries and over 50 years of experience. Currently, Cigna provides global health care insurance benefits and related services to more than one million customers worldwide. 

Javier joined Cigna in 2006 as Business Development Director for the Spanish business. In 2010 he launched Cigna’s Individual PMI business in Europe, building new direct channels alongside established intermediary distribution. Javier then became Spain Country Manager for Cigna in 2011 where he has successfully grown the business across the individual, domestic and global benefits’ segments. He will continue to lead Cigna’s business in Spain as part of his new role.

While Javier continues to be based in Madrid, he leads a team operating across Europe with key operational hubs in UK, Belgium and Spain.

Javier commented, “I’m delighted to bring together Cigna’s resources in Europe at a time when global mobility and demand for health benefits are both increasing. There’s no doubt that global mobility has an important part to play in economic growth. And I’m confident that Cigna is well-positioned to support the different global health benefits needs of employers across Europe.”

Cigna Global Health Benefits is part of Cigna, a US-based global health service company, dedicated to helping the people we serve improve their health, well-being and sense of security. To learn more please visit www.cignaglobalhealth.com  and www.cignainspire.com 

HX Global, (part of the Healix Group), has announced that its newest Sales & Client Management office, just opened in the Chicago suburb of Oak Brook, IL, is to be run by David Evans, Senior Vice President. 

Gregory Cain, President of HX Global explains, “Our explosive growth in the US market meant that we needed another regional office to service our clients and Chicago is the ideal location.  David joins us with a long, successful track record of consultative relationships within the medical and security assistance industry and will be responsible for sales and client relations in the Central US.”

HX Global® is the US subsidiary of Healix International Ltd, a global leader in international medical, security and travel assistance services. Working on behalf of multinational corporations, governments, NGOs and insurers, Healix is entrusted to look after the welfare of millions of expatriates, travellers and local nationals in every country of the world, 24 hours a day.

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