Zurich Financial Services Group (Zurich) and AIA Group Limited (AIA) announced on Wednesday that Zurich Employee Benefits Network (ZEBN), a business area of Zurich Global Life, and AIA have agreed to work together in the Asian employee benefits market. The cooperation between ZEBN and AIA will benefit multinational companies with operations throughout Asia and improve their access to comprehensive employee benefit programs.
Gordon Watson, Executive Vice President and Regional Managing Director, AIA said: “We are delighted to work with Zurich Employee Benefits Network and believe that this cooperation will better serve our multinational client base as well as expand our already excellent access to a well-established network among the risk management community.”
“AIA has extensive and deep experience in providing customised employee benefits solutions across Asia, being a pioneer in leveraging its relationships to form the first international network arrangement in 1953. Today, we have more than 10 million participating members of group policies who are benefiting from our expertise and are seeing the benefits from the protection and rewards that AIA is able to offer”, he added.
Theo Lutgendorff, Head of Zurich Employee Benefits Network, said: “Asia is a growth market for many U.S. and European multinational companies and
ZEBN’s cooperation with AIA, a leading pan-Asian insurer, enables us to best service the needs of multinational companies and to improve ZEBN’s value proposition in the region for this specific customer group. The cooperation also underscores the growth strategy of Zurich Corporate Life & Pensions.” And he added: “As AIA has historically been the provider of choice for many U.S. multinationals, these companies can now benefit from the value which the cooperation between ZEBN and AIA may bring to them.”
ZEBN and AIA will cooperate in 15 geographies to develop group insurance solutions for multinational companies through the creation, marketing and successful delivery of employee benefit programs. The cooperation will allow AIA to further enhance its services to multinational companies in the region with additional access to the well-established Zurich Employee Benefits Network.