SiriusPoint’s Life Reinsurance Team has rolled out a new medical insurance product, Blue Ocean LifeTime, in China to boost access to affordable medical care.

The company launched this product in partnership with employee solutions provider Further Group, insurance and healthcare technology platform WaterDrop, and China Pacific Health Insurance.

Blue Ocean LifeTime is intended for use by approximately 200 million customers of WaterDrop.

This medical insurance policy will give users access to foreign medical services, which are hard to obtain otherwise.

It will also give customers access to new cancer therapies, namely Boron Neutron Capture, a targeted radiation therapy.

SiriusPoint Life Reinsurance head Florian Boecker said: “Blue Ocean LifeTime is well-positioned to provide cover in this widening gap between what is medically possible and what is covered by other forms of insurance.”

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“Private medical insurance has now become an important part of the national healthcare system in China due to its comprehensive coverage and affordable price.

“It is great to partner with WaterDrop, Further Group and China Pacific Health Insurance to boost the insurance pool and to make accessing specialist treatments overseas that much easier for the policyholder.”

SiriusPoint recently collaborated with Air Centurion Insurance Services, an aviation insurance programme administrator.

Starting this month, Bermuda-based SiriusPoint will provide capacity to the aviation insurance provider.

The (re)insurance company will also collaborate with the PA on underwriting strategy and the development of insurance solutions.