Feb
25
4th Quarter Results show Allianz profits up as Aetna’s slide
Filed Under Aetna, Allianz | Leave a Comment
Results are out for the financial period ending December 31 2009, and insurers Allianz and Aetna have had different fortunes.
After reporting their results for 2009 Allianz, based in Munich, Germany, posted a 4th Quarter net income of 1.09 billion euros (US$1.47 billion), a well received change over the 145 million euro loss during the same period in 2008. This was helped greatly by Allianz’s Life and Health insurance unit posting a net income of 432 million euros in Q4 2009 after losing 505 million euros in Q4 2008.
Allianz’s net income for the 2009 fiscal year was 4.74 billion euros, up 13.2% over 2008, prompting Allianz to raise their dividend from 3.50 to 4.10 euros per share as they seek to attract new investors.
Hartford, Connecticut-based Aetna on the other hand reported a Q4 2009 net income of US$165.9 million, down about 14.8% from US$194.7 million during the same quarter in 2008. Despite an increase in yearly revenue from US$30.95 billion in 2008 to US$34.76 billion in 2009, Aetna’s year long earnings are down with net income for 2009 at US$1.276 billion, approximately a 7.8% drop from 2008’s US$1.384 billion.
Aetna’s operating earnings per share fell from US$0.96 in 2008 to US$0.40, which the group said was due to lower operating earnings in the Group insurance business, a lower Commercial underwriting margin due to increase costs, and an increase in pension expenses as well.
Companies Mentioned:
Founded in 1853, Aetna is one of the leading health insurance companies in the USA. Continually working on innovating and improving healthcare and services for their policyholders, Aetna is committed to providing comprehensive insurance coverage for American citizens.
Founded in 1890 as an accident and transport insurer, Allianz has grown into an international group doing business in asset management, banking and insurance, including their international health insurance brand, Allianz Worlwide Care. Allianz Group has over 75 million customers in approximately 70 countries around the world.
Feb
17
Expats in Japan to comply with updated visa regulation
Filed Under Aetna, International Healthcare | 1 Comment
As per information contained in a recent release by the Marketing arm of Aetna Global Benefits (AGB) about Regulatory News in Japan, an existing regulation will be given new emphasis by the Japanese Immigration Bureau in regards to resident visa applications by foreign nationals living in Japan.
The existing requirement for Expatriates living in Japan to provide proof of current or future enrollment in the country’s national health insurance system to renew or apply for a visa with validity longer than one year will become compulsory starting from the 1st of April, 2010.
The Japanese Immigration Bureau made public their “Amended Guidelines for Change of Qualification of Foreign Residents and the Renewal of Visas”. According to these guidelines, it will be compulsory for Expats living in Japan to show proof of insurance in Japan’s national health system in order to apply for or renew their visa.
Foreign nationals can continue enjoying the coverage provided by international private health insurance companies, such as the overseas coverage offered by AGB. This coverage intends to supplement, instead of being a replacement for the coverage offered by the national health insurance system.
Insurance Company mentioned:
Aetna Global Benefits (AGB), the international segment of Aetna Inc., is a provider of comprehensive health benefits solutions and health management services for multinational employers, high-net-worth individuals and government entities. AGB’s health benefits offerings include medical, dental, vision, life, disability and emergency assistance for employees and high-net-worth individuals who live, work or travel internationally. With the acquisition of Goodhealth Worldwide, AGB is one of the industry’s largest and most prominent U.S.-based international benefits providers, supporting approximately 400,000 members worldwide from offices throughout the U.S., Europe, Asia and the Middle East.
Feb
8
Aetna Global Benefits Targets Middle East and Africa Wellness
Filed Under Aetna, Africa, Insurance Company, International Healthcare, Middle East, UAE Insurance | 13 Comments
In an effort to provide more comprehensive levels of coverage and support to policyholders located in Africa and the Middle East, Aetna, a leading international health insurance company, today announced that it would be launching its Online Wellness Center to support plan members in the region.
Aetna Global Benefits, the international arm of the Aetna insurance company, created its Online Wellness Center to help combat some of the more serious health risks throughout the Middle East and Africa. With a higher preponderance to risk of coronary artery disease, cancer, and serious heart conditions, expatriates and local nationals throughout these regions may often be unaware of the serious health risks posed by everyday life. Aetna has designed their online tool with the aim of educating and informing their policyholders, as well as giving them the resources which they need to find adequate and comprehensive care in the event of a serious illness or untoward accident.
Mark Jardin, the Managing Director for Aetna Global Benefits in Africa and the Middle East stated that the company wants “to engage, educate and motivate members through the AGB Wellness Centre.” Mark was appointed MD of the company’s Africa and Middle East business in May 2009.
One of the primary reasons for the deployment of Aetna’s Online Wellness Center is the preponderance of Cancer throughout the region. Currently, cancer is the second leading cause of mortality worldwide, and responsible for a third of deaths in the United Arab Emirates. Aetna’s Online Wellness Center now gives policyholders in the Middle East and Africa the ability to actively manage their healthcare in light of worsening health trends; something which Aetna hopes will promote healthy lifestyles and living throughout the region.
Insurance Companies Mentioned
Founded in 1853, Aetna is one of the leading health insurance companies in the USA. Continually working on innovating and improving healthcare and services for their policyholders, Aetna is committed to providing comprehensive insurance coverage for American citizens.
Aetna Global Benefits:
The international health insurance arm of Aetna, AGB is able to cater to the needs of expatriates located around the globe. With innovative policies, and dedication to service, Aetna Global Benefits exemplifies the commitment to the customer shown by their parent company.