US based international insurer Aetna has entered into an agreement to acquire Goodhealth Worldwide, a leading managing general underwriter for international private medical insurance that offers expatriate benefits to individuals, small and medium enterprises, and large multinational clients around the world.
Aetna is in the process of taking over Goodhealth, but has not yet completed the deal. Terms of the acquisition were not disclosed. Aetna expects to finance the transaction from available cash. The transaction is subject to customary closing conditions, including applicable regulatory approvals. Aetna expects to close the transaction within 30 days.
Headquartered in Bermuda and owned by international insurance business Primary Group, Goodhealth Worldwide is one of the leading and most experienced providers of international private medical insurance (IPMI) for expatriates and high-net-worth individuals, with a strong focus on emerging markets such as Asia and Africa.
Goodhealth Worldwide has more than 55,000 expatriate customers. It maintains offices in Bermuda, Miami, London, Dubai, Jakarta, Hong Kong, and Shanghai and has approximately 170 employees.
Goodhealth Worldwide will be a unit of Aetna Global Benefits, the company’s international business for expatriates. It may merge with the recently set up AGB London office.
Insurance news update: 06 Sep 2007