Allianz Partners has signed an agreement to take over Aetna International's health insurance portfolio outside the Americas and India. Allianz Ayudhya has also acquired 100 percent of Aetna Thailand.
The Paris-based payer is taking an undisclosed number of Aetna employees to help ensure a smooth transition, according to a May 24 news release.
Members will migrate to Allianz at their policy renewal date, with migration plans in place over the next 12 to 16 months. Brokers and policyholders will be provided with new, comparable policies around 6 to 8 weeks before their renewal date, which begins in July. New customers will be offered policies that match or exceed their current plan. Brokers will receive the same services previously offered by Aetna, and Allianz will also support a pause on underwriting for migrating clients already on those terms. There will also be a free enhanced well-being offering that includes comprehensive coverage of chronic conditions, a second medical opinion, oncology case management and a digital health checkup for preventive care.
Allianz Partners has created a new version of Aetna's Summit product, which will be available to migrating SME Summit and new customers.
Aetna International policyholders do not need to do anything at this stage. Existing coverage and support services remain in place, and members will be contacted in advance of their renewal date.