Foyer on 10 March signed an agreement to acquire 100% of the shares of Globality, an international health insurer and reinsurer specialised in insuring expatriates and local, independent workers owned by ERGO Reiseversicherung. With the acquisition, Foyer is “strengthening its position in international health insurance for expatriates,” while Globality “brings its expertise and territorial reach,” stated the press release.
“I am delighted to announce the acquisition of Globality, as it will undoubtedly enable us to accelerate our growth in the international health insurance sector,” said Marc Lauer, CEO of Foyer. “While allowing us to continue providing our clients with the highest quality of service worldwide, this opportunity will take Foyer as a brand higher at an international level.”
Globality’s team will become part of Foyer Group, but remain the points of contact for Globality’s distributors and customers.
Partnership with ERGO
Foyer also announced on 13 March that it is developing a partnership with ERGO, a group of insurance companies headquartered in Germany. Foyer Global Health--which is part of the Foyer Group and has been offering international health insurance since 2014--and Globality international private medical insurance products and solutions will be integrated into ERGO’s international distribution network.
Foyer was established in Luxembourg in 1922 and currently employs around 800 people. It has activities in five main sectors: Foyer Assurances (personal and professional insurance), Foyer en Belgique (insurance for people in Belgium), Global Health (international health insurance with a focus on expats), Wealins (life insurance) and CapitalatWork (asset management and financial advice).