New structure should help iPMI provider to exploit opportunities in new territories, LONMAR says
MediCare International, the international private medical insurance (iPMI) provider, is to operate as a subsidiary company of LONMAR Global Risks with immediate effect.
Until now, MediCare had operated as a trading division of LONMAR Global Risks.
But LONMAR announced today that a new corporate structure means that the specialist iPMI provider will now operate as an Appointed Representative of LONMAR in its own right.
LONMAR chief executive Simon Rice said the change would enable MediCare, which has been a provider of international health insurance for expatriates since 1982, to exploit new business opportunities within the international broking community.
"It enhances the company’s ability to bid for new business in countries where MediCare is not currently active," he added.
The deal also reflects LONMAR’s wider business strategy for establishing managing general agents, Rice said.
MediCare currently provides healthcare cover to expatriates and their families from 86 nationalities in 121 countries around the world.