Aetna the healthcare insurance specialist has launched a new suite of International Healthcare Plans (IHPs) designed to cater for expatriate employees and employing companies in order to make health benefits more accessible for members when overseas. The Connecticut based insurer's revamp…

The multi-national German insurer the Allianz Group - Europe's largest insurer by gross premium income - reported that annual net income in 2010 increased by 22.4 percent to total €5.2 billion (US$6.94 billion), driven by substantial growth in Allianz's life and health insurance businesses. Allianz's year-on-year net profit rose by 11 percent in the fourth quarter of 2010 to reach €1.13 billion (US$1.54…

Several prominent Ukrainian based private insurance companies have disclosed that a state health insurance scheme could be introduced to the Ukraine as early as 2014. The discussion on healthcare and insurance reform has been brought forth following Deputy Parliament Speaker Tetiana Bakhteeva's prediction that the Ukranian health system will be ready for a comprehensive health…

The American International Group (AIG) reported net income of US$11.2 billion for the fourth quarter period in 2010, which ended on 31st December 2010. The bailed out insurer's income included the sale of assets as it restructures its business in order to repay the loan received from the US government in 2008 following the global collapse of financial markets. The New York based insurer's full year…

The major French insurance company AXA reported a decline in overall net profit of 24 percent in 2010 to €2.75 billion (US$3.7 billion) compared to €3.61 billion (US$4.9 billion) achieved in the previous year 2009. The company stressed that 2010 was a year of transition and strategic restructuring. The major factor contributing to the steep decline in AXA's profits in 2010 was the sale of its UK life…

South Africa's Discovery Holdings has reported a jump in net earnings for the six month period ending on 31st December 2010 to total ZAR 941 million (US$132 million), representing a 25 percent increase on the previous six monthly period. Normalized operating earnings in the period increased by 28 percent to ZAR 1.33 billion (US$ 186 million), excluding the one-off cost of the take-over of UK's Standard…

Zurich Financial Services, the Swiss based multi-national insurer, has announced plans to increase its presence in the Latin America insurance market by entering into an agreement with the major Spanish financial services group, Banco Santander. The deal will involve Zurich paying an initial US$1.67 billion for a 51 percent share in the Banco Santander's Latin American insurance arm; which covers…

Bangkok Dusit Medical Services (BGH) has acquired shares which will give the hospital group an 11 percent stake in rival private hospital operator Bumrungrad Hospital as the private health operator continues to strengthen the group's position in the Thailand healthcare market. The share purchase covers over 46 million ordinary shares in Bumrungrad Hospital representing 6.32 percent of the total…

Sun Life Financial has announced that it has reached an agreement with GPL Holdings - part of the Southeast Asian multi-industry conglomerate, the Yuchengco Group - in order to acquire a 49 percent stake in its subsidiary Grepalife Financial. The deal will enhance the multi-national Canadian insurer's presence in the Philippines insurance market. The deal will see the rebranding of Grepalife as Sun…

Ageas has announced plans to enter the growing Turkish non-life insurance market through a partnership with local conglomerate Hac? Ömer Sabanc? Holding A.?. (Sabanci). This will see the Belgian insurer acquiring a 31 percent share in Sabanci subsidiary Aksigorta for US$220 million (€160 million). Ageas agreed the deal with current owner's Sabanci, a leading industrial and financial business in Turkey,…