Aetna Takes First Step Toward Entering Insurance Market In China

Main Category: Health Insurance / Medical Insurance
Article Date: 27 Jun 2008 - 1:00 PDT

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Aetna (NYSE:AET) announced that it has established a representative office in Shanghai, China, as the first step in a two-year process required before an insurer can apply for a license in China. Aetna, through its international division, Aetna Global Benefits (AGB), received official approval in late March from the China Insurance Regulatory Commission to establish the Shanghai office.

For the next two years, Aetna will conduct a more detailed exploration of strategic development options. Currently, the company is conducting in-depth market research to better understand the health insurance market in China and determine what value it can add to the industry.

"Aetna's exploration of the Chinese market represents our commitment to follow our customers and their employees into critical markets around the globe and across all borders," said Martha Temple, president of Aetna Global Benefits. "We believe we can help multinational employers expanding to the Far East, as well as Chinese-based companies, by leveraging our local knowledge and our global approach to effectively manage health care quality and cost."

Aetna has maintained its relationship with the international community through its expatriate business. AGB currently provides comprehensive health benefits coverage for more than 325,000 expatriates, third-country nationals, and key local nationals in over 100 countries, including China.

About Aetna

Aetna is one of the nation's leading diversified health care benefits companies, serving approximately 37.3 million people with information and resources to help them make better informed decisions about their health care. Aetna offers a broad range of traditional and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans, and medical management capabilities and health care management services for Medicaid plans. Our customers include employer groups, individuals, college students, part-time and hourly workers, health plans, governmental units, government-sponsored plans in the U.S. and internationally. Aetna's international businesses include Aetna Global Benefits, Aetna's expatriate benefits division that focuses on providing comprehensive solutions to employees working, traveling, and living in over 100 countries.

http://www.aetna.com

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