Cigna buys Belgian insurer
Cigna Corp., the Philadelphia based insurance company, has broadened its global business of providing health insurance to North American expatriates and others in globally mobile workforce by acquiring Vanbreda International, a privately held company based in Antwerp, Belgium.
Cigna Corp., the Philadelphia based insurance company, has broadened its global business of providing health insurance to North American expatriates and others in globally mobile workforce by acquiring Vanbreda International, a privately held company based in Antwerp, Belgium.
Cigna primarily insures North Americans living and working abroad.
Vanbreda's customer base is more European, serving those who work for corporate and non-governmental organizations in Europe, Asia, Africa, Latin America and the Middle East. Together, they will provide insurance for 700,000 people.
Vanbreda's executive officer, Rudi Bertels, and chief operating officer, Wouter Reggers, will run the business as a separate division. William L. Atwell is president of Cigna International.
No financial details were disclosed.
Cigna shares were up 70 cents late this morning to $32.61. - Jane M. Von Bergen