Colombian insurance provider AXA COLPATRIA has become the latest local insurance firm to join the MAXIS Global Benefits Network (MAXIS GBN) and will now be providing medical coverage for MAXIS GBN’s multinational clients in the South American country.
The arrangement means that MAXIS GBN can now offer multinational clients a wider service in Colombia, adding to the life insurance services provided by its other network partner, MetLife Colombia.
It also means that MAXIS GBN now has in excess of 30 insurers in the wider Americas market.
AXA COLPATRIA is a specialist provider of prepaid and health insurance coverage in the country, ranking sixth largest in the PHI (prehospital and insurance) (PHI) in terms of revenue with a 6% market share and 220,000 customers.
MAXIS GBN’s local insurers currently cover over 3.2 million employees worldwide.
Bernardo Rafael Serrano López, General Director and CEO, AXA COLPATRIA, said: “The medical insurance market in Colombia remains highly competitive, with strong opportunities for growth. As such, it is great to be working with MAXIS GBN and helping to provide medical coverage to the employees of their multinational clients in the Colombian market. MAXIS GBN’s value proposition in the South American market is attractive and we are delighted to have formalised this partnership.”
MAXIS GBN, co-founded by MetLife and AXA, is one of the world’s largest employee benefits networks. It currently has 500 multinational clients, including 50 employee benefits captives. It also includes 140 local insurance carriers with specialist capabilities in over 120 markets, meaning that