Cigna completes FirstAssist acquisition

Global health services company Cigna has finalised the acquisition of FirstAssist Insurance Services.

FirstAssist Insurance Services and FirstAssist Legal Protection are now part of Cigna International's Health, Life & Accident (HL&A) division.

Following the purchase of FirstAssist, for £71m, the arrangement between Great Lakes Reinsurance, which is a wholly owned subsidiary of Munich Re. and FirstAssist has been renewed.

Great Lakes will remain the fronting insurer for FirstAssist's travel, protection and accident policies.

Jason Sadler, chief executive officer, Global Health Life & Accident at Cigna International, said: "The deal enhances Cigna's presence in Europe and enables us to offer an expanded range of products and services to our customers across our businesses in Europe and Asia Pacific."

Alistair Hardie, chief executive officer, at FirstAssist Insurance Services added: "As part of Cigna, we now have access to a broader range of health, life and accident products which we will offer to affinity clients with the same levels of flexibility and innovation that have helped us achieve our success so far."

FirstAssist has nearly 3 million policy holders in the UK and was previously owned by Barclays Private Equity.