French wholesale insurance broker APRIL Group has purchased international health insurance specialist Expat & Co for an undisclosed sum.
The acquired company is engaged in independently underwriting insurance for expatriates in Belgium.
Expat & Co also provides a platform of solutions to support its clientele, which consists of individuals, corporations and colleges, including multinationals with locations around Europe.
APRIL has had a presence in Brussels since 2018 as APRIL Belgium and the latest move will further solidify its foothold in the Benelux region.
The deal will give Expat & Co access to partnerships with industry leaders, especially in telemedicine and healthcare networks.
To enhance its clients’ foreign healthcare experiences, Expat & Co will also leverage APRIL Group’s technological and service infrastructure, the insurance broker added.
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APRIL International CEO for Europe Isabelle Moins said: “Following our recent establishments in Dubai and Germany and targeted acquisitions over the last two years in Asia, we are continuing with Expat & Co our expansion in our core business of [International Private Medical Insurance] IPMI.
“Belgium is a dynamic market with great potential, thanks to its rich ecosystem of European and global organisations and companies. Expat & Co is a recognised player among expatriates and students and I look forward to working with Filip Declercq and his team to continue to develop our business.”
Expat & Co founder Filip Declercq said: “APRIL is the ideal partner for us to continue to grow in our market for the greater benefit of our distributors and policyholders around the world. It gives us the resources to meet the challenges facing the insurance sector, such as digitalisation and regulatory changes.”