November 8th marked the official re-branding of the AXA Minmetals Ultracare International Medical Insurance Plan in China with a new, updated name, ICBC AXA Ultracare. The move comes after the shift in the majority shareholding from Minmetals to ICBC. This change is only one of a few to have occurred in regard to the ICBC medical plan in China.…
Globalsurance, with great excitement, can announce that as of November 1st 2012, Allianz Worldwide Care individual premiums will increase by just 5 percent. This increase rate is all the more impressive when put into context with the 11 percent global average increase over the past 5 years across the Private Medical Insurance sector. Despite bleak global economic outlooks and rising inflation,…
Award winning insurer InterGlobal has released its premium increases for 2013, and the news is sure to put even wider smiles on the already happy faces of current InterGlobal customers. Their announcement comes hot on the heels of similar disclosures by industry giants AETNA and Bupa, who have both hiked their premiums by about 10 percent. Allianz Worldwide Care have also just announced…
The autumn of 2012 has been a significant and celebratory one for Cigna, with October marking 50 years for the Cigna Foundation, the recognition of some of Cigna's leadership in a national magazine and the honor of receiving the International Benefits Provider of the year award at the Expatriate Management and Mobility Awards. First, the Cigna…
When Hurricane Sandy struck the East Coast late last month, it left stunning devastation in its wake: Fire, flooding and explosions, severe property damage, and all this on top of everyday hassles such cancelled flights and the nearly week-long shut-down of public transportation. During a natural disaster like Sandy, area residents of course face a number of risks not only to their property but…
Globalsurance can confirm that Bupa International's medical inflation rate has come in below long term average which is good news for clients. Global medical inflation in the international Private Medical insurance (iPMI) market has been running at 10.8 percent on average for the past 5 years so although Bupa's increase looks high by most inflation…
AXA Asia recently announced major plans to expand its services across Asia by doubling the scope of its regional health business by 2015. The company released a statement on October 29 highlighting its plans, indicating that they will further develop services in regional markets by improving and expanding on the products they offer and focusing on health capabilities on a regional and local level. "AXA…
AETNA is one of the latest insurers to reveal the new pricing points for their range of International Private Medical Insurance (IPMI) products. Together with BUPA, AETNA has also revealed an increase in the cost of its IPMI plans; with both companies providing similar adjustments levels (10% Aetna, 10.3% Bupa) that match the current global medical inflation trends and compensate for the increasing…
In a move that has caught agents and brokers off guard, Nordic Healthcare, a provider of international health insurance, has announced that it will cease sales of new individual policies in all but its core markets. This means that, with immediate effect, Nordic will no longer be issuing new IPMI policies anywhere in the world except Europe, Singapore, Hong Kong, Thailand and Vietnam. The announcement…
A recent publication from the Singapore Department of Statistics has stated that the city state has continued to see a year-over-year increase in its population from 5.18 million in 2011 to 5.31 million in 2012. However, the reality of the situation is that annual population growth has slowed from 3.5% to 2.5%…
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