AXA launches new cover for companies in Saudi Arabia

Insurance word written on wood block

AXA has launched international insurance policies for companies based in Saudi Arabia.

The new ‘Prestige’ and ‘Prestige Plus’ plans will be available to locally-based businesses and multinational companies with employees on assignments in the country from 1 January.

Under the policies, customers seeking local medical treatment will be able to use hospital networks and cashless facilities in Saudi Arabia.

AXA said the plans complement its global medical network which gives policyholders access to medical treatment when outside the region.

Cover includes cancer care and protection for kidney dialysis, as well as mandatory cover for life-threatening congenital conditions, pre-existing conditions and new-born cover for up to 30 days.

AXA said the policies have been designed to meet local need and build on its other global insurance products in Dubai and Abu Dhabi.

The new plans have been approved by the Saudi Arabian Monetary Authority and the Council of Cooperative Health Insurance.

Saudi Arabia’s population has grown by 3.5% annually to become one of the largest populations in the middle East following regulatory relaxations by the Saudi Arabian government.

Kevin Melton, global head of sales and marketing, AXA – global healthcare, said: ‘With health insurance now mandatory for all private sector employees and over 12 million expats working in Saudi Arabia, it is a key market for us.

‘We wanted to offer a compliant, multi-layered product which would appeal to both global and local businesses alike. It is a competitive region, but we believe our offering will provide businesses with a level of care which suits their needs, and the needs of their employees.’