AXA PPP healthcare Limited (AXA Health) has entered into a strategic reinsurance agreement with NextGen i.i. The partnership aims to introduce international private medical insurance (IPMI) products to the market, with AXA Health providing reinsurance. Essentially, AXA Health will assume the financial risk as NextGen i.i. launches these new IPMI offerings.
Established in 1940 by doctors and hospitals, the company that would eventually become AXA Health offers a range of insurance options, catering to individuals and businesses alike. The company's journey includes the acquisition of Guardian Royal Exchange in 1999 by AXA and the launch of an online GP service in 2015. In 2023, AXA Health introduced the AXA Health Plan, which is designed to empower consumers in making healthcare decisions according to their needs.
Laurent Pochat-Cottilloux, CEO of AXA Life & Health Reinsurance Solution, commented on the partnership in a news release dated Jan. 29. He said, "This agreement will enable AXA Health to combine our industry-leading capabilities and resources to provide reinsurance coverage to NextGen i.i., who is delivering innovative insurance solutions aiming to meet the evolving needs of customers in the Latin America and the Caribbean region."
NextGen i.i., known for providing international private medical insurance in the Caribbean and Latin America, also offers insurance aimed at protecting not only health but also net worth. Their network includes United Healthcare’s network in the U.S., as per information available on their website.
Ricardo Gonzalez-Padilla, CEO of NextGen i.i., expressed his sentiments regarding this partnership with AXA Health. He said, "We are honored to have AXA Health as our reinsurer. This partnership will allow us to expand our product offerings and provide our customers with even greater value and peace of mind."