The report was issued by the McGrigor Group, which is a strategy and merger and acquisition (M&A) advisory firm that focuses on health insurance and medical products and services.
Their private sector clients include Fortune 500 companies, global health insurers and health and medical venture capitalists.
The report also estimated that the size of the global international private medical insurance (IPMI) market will reach an estimated US$17bn (£12.7bn) by the end of 2020.
Cigna was named as the number one company for market share.
The report stated that the market has started to use “global” terminology for the first time ever, rather than using “international” terminology. It also indicated that the market is now entering a more mature phase.
The report was released as a global facts and figures report along with five regional market versions focused on Latin America; US and Canada; South Asia; MENA and Sub Saharan Africa. It was aimed at specialist brokers and those looking for a snapshot of the market.
James McGrigor, CEO of McGrigor, said the reports will be of interest to regional brokers involved in the market.
He added: “It’s a market with secretive players where good data is very hard to come by.”
International Health Insurance
At Cigna Global, we provide plans that are specifically designed for expats.
This could be an expatriate living abroad, who needs coverage above his employer provided plan or as an option within an employer support package. Or an entrepreneur embarking on a new journey in a brand new place.
It also includes families who have needs in multiple locations and students on an international journey and retirees who are fulfilling life long dreams of living abroad.
Everything we do is driven by our mission to help improve your health, wellbeing and peace of mind. We help customers stay well, prevent sickness, obtain access to health care, recover from illness or injury, return to work and provide for their families.
Find out more about our plans here.
Sources:
- Health insurance and protection - Global iPMI market to reach £13bn by the end of 2020 - https://www.healthinsuranceandprotection.com/international/global-ipmi-market-to-reach-13bn-by-the-end-of-2020
