On March 23, 2022, CVS Health decided to pursue the plan to divest their IPMI business outside the Americas. As a result, Aetna International has signed a preferred partnership deal with Allianz Partners for the majority of their markets outside the Americas, Thailand and India.
What does this mean in the Middle East?
Aetna International, in the EMEA and APAC regions, will no longer provide coverage for most new customers or renewals for most existing customers with policy renewal dates from July 1st, 2022 onwards for Group business and from November 1st, 2022 for Individual business. Aetna International intends to introduce their customers to Allianz Partners and to help migrate their membership to Allianz Partners at renewal. Completion of this migration process is planned to take place before or by October 31, 2023.
This means that Aetna International IPMI customers will cease being on Aetna coverage by October 31, 2023 at the latest, apart from any claims they make on their Aetna International policy. The Thailand business will be acquired by Allianz Ayudhya in its entirety.
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