In an effort to expand its international business, U.S. health insurer Aetna Inc. (AET) has formed a partnership with Swiss Life, Headquartered in Zurich, Swiss Life is a leading life and pension insurer.
Via the partnership, Aetna will offer its international and domestic health care benefits and services to Swiss Life’s multinational customers.
The service will be effective from Sep 1. Aetna will offer its services in the U.S. via Swiss Life Network. It is a network which has 60 insurance companies and business partners operating in 70 countries around the world. Through Swiss Life Network, the company offers international and local employee benefit packages.
Aetna and Swiss Life are making all efforts possible to better serve their customers. In this view they will also tailor their services to suit the needs of their customers.
Both the companies, Swiss Life as well as Aetna, are a great fit for each other with their niche presence in their domestic market that is Europe and U.S respectively.
Swiss Life is also optimistic about expanding the services from Aetna going forward. It intends to make use of Aetna’s health management analytics, technology and wellness solutions.
The partnership also benefits Aetna’s WorldTraveler - a short-term international health coverage meant for business travelers. Now Swiss Life will offer the product to its customers worldwide.
Aetna is aggressively expanding its international business by entering into new regions as well as developing new products and services. Its international business is expected to be a solid contributor to the company’s growth over the long term.
Aetna carries a Zacks Rank #2 (Buy). Another stock Molina Healthcare Inc. (MOH) with Zacks Rank#1 (Strong Buy) and UnitedHealth group Inc. (UNH) and WellPoint Inc. (WLP) with Zacks Rank#2 (Buy) is worth considering.