Health services company Cigna Corporation has successfully completed the acquisition of general insurer Zurich Insurance Middle East.
The newly acquired entity will be known as “Zurich Insurance Middle East, a Cigna-owned company” for now. A name that aligns with the Cigna brand will be assumed once the involved parties are done with all formalities.
Currently, Cigna delivers group health products and services for small businesses and multinational companies in the Middle East region. With the acquisition, the firm will provide health and wellness services to individuals, employers, and governments in the UAE, Lebanon, Kuwait, and Oman.
“Cigna has enjoyed a strong presence in the Middle East for more than 15 years through our local partners. Today, we mark a significant new phase of our journey and commitment to the region,” said Jason Sadler, president of Cigna International Markets.
Arthur Cozad, former Cigna Taiwan chief executive, has been named as CEO for Middle East markets. Earlier this year, Cigna opened offices at the Dubai International Financial Centre to serve as its regional headquarters.
Howard Gough – CEO of Cigna for the MENA (Middle East and North Africa) region, Global International Private Medical Insurance (GIPMI), and Global Government segment – said there’s a dynamic change within the healthcare sector in the Gulf Cooperation Council region, citing regulatory reform and national agendas prioritising the importance of quality healthcare.
Cigna employs more than 40,000 people that service over 95 million customer relationships worldwide.
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