Dive Brief:
- U.S.-based MetLife and AXA, a French insurance carrier, have announced plans to further strengthen their MAXIS Global Benefits Network (MAXIS) by combining its existing operations under a joint venture company.
- Through the joint venture, MAXIS GBN will integrate activities including sales, marketing and client servicing to provide a "single, seamless client experience," according to a press release.
- Within the global employee benefits landscape, MetLife and AXA's goal is to build MAXIS GBN as a long-term partner for multinational clients. MAXIS GBN is now investing in analytics, medical reporting, and health and wellness solutions, tthat "go beyond traditional insurance products."
Dive Insight:
MAXIS GBN will be headquartered in London and Mauro Dugulin will be CEO of the joint venture company. Dugulin will be advised by a management committee, led by Dan DeKeizer, senior vice president, Global Employee Benefits, MetLife, and Mattieu Rouot, senior vice president and head of International Employee benefits, AXA.
“As multinational companies continue to grow globally, they need benefits providers who can offer comprehensive, integrated benefits solutions, in keeping with the organization’s global human resource strategy," said Maria Morris, executive vice president, Global Employee Benefits, MetLife and co-chair MAXIS GBN Board. "By strengthening MAXIS GBN we are best positioned to meet the unique needs of customers in more than 110 markets."
The deal between MetLife and AXA is a sign that the two companies expect economic globalization to continue to grow. Large multinationals in the U.S. are always looking for ways to use employee benefits to not only meet talent recruiting needs, but also to retain that talent. MetLife is a major carrier in the U.S., but does not offer healthcare coverage. It's partnership with AXA has given them that coverage overseas, and this latest announcement strengthens that relationship.
