In 2021, Swiss insurer Zurich Insurance Group expanded its global employee benefits ecosystem by adding Ping An Health Insurance Company of China as a network partner in China. The move strengthened Zurich’s ability to support multinational companies with employees in one of the world’s largest and most complex healthcare markets.
By integrating Ping An Health into its network, Zurich enhanced its local offering in China, giving multinational clients access to a broader range of medical and employee benefit solutions for their China-based employees.
Expanded solutions for multinational employers
Through the partnership, Ping An Health provides a suite of products and services that can be integrated into multinational benefit programs in China. These include:
- Group accident insurance
- Death due to disease coverage
- Critical illness protection
- Local and high-end medical insurance plans
- Wellness and health management services
Multinational employers participating in Zurich’s global employee benefits programs can therefore access both traditional insurance coverage and health ecosystem services offered by Ping An.
This approach aligns with the growing demand from multinational employers for more comprehensive employee wellbeing solutions, combining insurance protection with preventive healthcare and wellness services.
Support for captive-based employee benefits strategies
Another important aspect of the partnership concerns companies using employee benefits captives.
Zurich indicated that clients with captive structures could reinsure employee benefits risks for their China-based employees through the network arrangement. This provides greater flexibility in program design and may help multinational companies optimize their global risk financing and insurance costs.
Leveraging Ping An’s healthcare ecosystem
Headquartered in Shenzhen, Ping An Health is part of the broader Ping An Insurance (Group) Company of China, one of the world’s largest financial services groups with operations spanning insurance, banking, asset management and healthcare.
Ping An has invested heavily in digital health and healthcare infrastructure in China, building an extensive ecosystem that includes hospitals, pharmacies, telemedicine services and health management platforms. This infrastructure allows insurers to combine insurance products with healthcare services and digital tools for prevention and care management.
For multinational employers, access to this ecosystem can enhance employee health support and facilitate access to local healthcare services.
A growing global network for multinational employee benefits
Zurich’s Global Employee Benefits Solutions network includes more than 100 insurance partners across over 130 markets, covering more than one million employees of multinational clients worldwide.
The addition of Ping An Health strengthens Zurich’s footprint in Asia and reflects the strategic importance of China in global employee benefits programs. For multinational employers with operations in the country, partnerships with leading domestic insurers remain essential to ensuring regulatory compliance, market access and high-quality medical coverage.
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