Home»Companies»French Teachers’ Mutual MGEN Launches International Benefits Division MGEN IB

French Teachers’ Mutual MGEN Launches International Benefits Division MGEN IB

October 2016

Print This Post

In an unexpected move, French teachers’ mutual insurance company MGEN (Mutuelle Générale de l’Education Nationale) in October 2016 launched its MGEN International Benefits (MGEN IB) unit, dedicated to expatriates.

MGEN IB will develop a range of insured life and health products for globally mobile people originating from any country. It will address both individual and corporate markets in France and abroad, dealing with stays of any duration, from a few days to indefinite. Program administration is to be outsourced to specialized TPAs.

The company believes it has a natural fit with students going abroad and hopes teachers will recommend MGEN IB products to their charges, and, being a not-for-profit business, with NGOs and cultural institutions. MGEN already insures 54,000 French civil servants on foreign assignment and 220,000 students abroad.

Conversely, MGEN IB does not intend to offer pooling, captives, or international programs.

As its home market is saturated and exhibits little growth, MGEN is looking for growth outside of France, citing the great potential that resides in the 300 million internationally mobile people globally, including 2 million French nationals. Certainly, a market weighing in at EUR 10 billion in premiums with 10%-15% yearly growth is worth considering.

MGEN IB has hired a high-caliber team from Allianz Worldwide Care under the leadership of Francois Pierret. The official launch occurred in early October 2016 and the first MGEN IB products should be available in the first half of 2017.

MGEN IB’s parent company MGEN has 9,300 employees, covers 4 million people (including dependents) and writes EUR 2 billion in gross premiums.


Previous post

The French Health/Life Insurance Landscape

Next post

Zenefits Cuts Another 106 Jobs, 9% of its Workforce - New Product in Development