Cigna plans to expand health insurance across Middle East

Acquisition of Zurich Insurance Middle East enhanced global company’s market reach

Cigna Corporation, the Connecticut headquartered global health services company, which recently completed the acquisition of general insurer, Zurich Insurance Middle East (SAL) plans to expand its operations in key Middle East markets such as the UAE, Lebanon, Kuwait and Oman.

“As a premier provider of health and wellness services to individuals, employers and government entities across the Middle East, Cigna has been operating in the region for the last 15 years through our partners and brokers. This new acquisition will help us expand faster in the region,” said Jason Sadler, President of Cigna International Markets.

In the Middle East, UAE is the largest market for Cigna and the acquisition of Zurich Insurance Middle East is expected to boost its market share in the UAE and the region.

In line with regulatory compliance, the newly-acquired entity will be called ‘Zurich Insurance The company has presence across more than 30 countries and jurisdictions, employing over 40,000 people that service more than 95 million customer relationships throughout the world. Cigna is a Fortune 100 company with a total revenue of $39.7 billion (Dh145.82 billion) in 2016. Middle East, a Cigna-owned company.’ The company officials said eventually the company will assume a name that aligns with the Cigna brand once all formalities have been completed.

Group health insurance

In the Middle East region Cigna delivers group health products and services for small businesses and family-owned enterprises through to multinational companies. Through its new entity, Cigna will be able to provide even more personalised products to individuals, employers, and government entities; continuous customer support; multilingual call centres located across nine global locations; specialised clinical services, and access to one million medical and health care professionals and facilities worldwide. “The acquisition of Zurich Insurance Middle East marks a significant new phase of our journey and commitment to the region. Cigna aims to improve the health, well-being and sense of security of our regional customers by providing full access to our global expertise and wide range of specialised health care benefits, products and wellness programs,” said Sadler

Cigna has named Arthur Cozad, former CEO of Cigna Taiwan, as CEO for Middle East markets. Earlier this year, Cigna opened offices at the Dubai International Financial Centre (DIFC) to serve as its regional headquarters, providing management support and specialist services to its regulated entities across the GCC.

“We are witnessing a dynamic change within the GCC region’s health care sector, defined by regulatory reform and national agendas that prioritise the importance of quality health care. Cigna’s health care benefit products and its preventive wellness solutions meet a vital need for companies, and local and globally mobile individuals,” said Howard Gough, CEO of Cigna for the MENA Region, Global International Private Medical Insurance (GIPMI), and Global Government segment.