Aviva is to withdraw from the international private medical insurance (iPMI) market, following a strategic review which found iPMI “is not central to its focus on growing its health business in the UK”.
The provider has struck an agreement whereby, from 1 May 2018, existing iPMI customers will be offered continuation terms at policy renewal with Aetna International.
Existing Aviva customers who renew their policy will then become Aetna customers and will no longer have a relationship with Aviva.
Aviva said in a statement: “iPMI provides cover for UK customers who are living abroad and is separate to our substantial UK private medical insurance business and our health businesses in other international markets, which are unaffected by this decision.
“From May 1 2018 we will no longer provide cover for new customers or for existing customers wishing to renew their IPMI policies.”
The statement went on: “Withdrawing from the iPMI market, where we have a small presence, will allow us to concentrate on the significant domestic UK health insurance market where we are growing our health and wellbeing solutions for our customers and have the opportunity to achieve a market-leading position.”
David Healy, CEO EMEA – Aetna International, said: “We are delighted to have reached this agreement with Aviva. We are committed to delivering Aviva’s iPMI customers continuation of cover with Aetna that provides comparable benefits and an excellent level of service. This is very much in line with our business strategy to deliver comprehensive healthcare benefits worldwide. Our scale, expertise, customer service infrastructure and technological focus in iPMI allow us to make a significant contribution to improving people’s health and the quality of care they receive.”