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Citadel Health Insurance Agency launched

Citadel Health Insurance Agency Limited, a fully owned subsidiary of Citadel Insurance plc, has been launched with SwissLife Prévoyance et Santé as its principal. This new health insurance agency will sell health insurance plans under the brand name of CitadelHealth.

“Over the last decade and a half in business Citadel Insurance plc has continued to add refinement and innovation into our product portfolio, bringing new policies to the market and offering local consumers unique products that have ensured Citadel Insurance always remains a respected and leading insurer,” Joseph N. Tabone, Citadel Insurance plc’s chairman said at the launch at a business breakfast earlier this week.

“Citadel Insurance, together with the newly formed subsidiary Citadel Health Insurance Agency, operating independently from its parent company, are now able to offer a complete range of insurance solutions to service the local domestic market, commercial businesses and industrial enterprises,” he added.

Michael Warrington, director of Citadel Health Insurance Agency Ltd, explained that the private health insurance market has been increasing each year and in 2010 the gross written premium amounted to €20.7 million, compared to €19.8 million in 2009.

“We are very pleased to be entering this market with SwissLife Prévoyance et Santé (France),” Mr Warrington said.” This company has received several awards for the quality of its life and health insurance products, and we are pleased to host its director general, Henri Laurent, at our launch.

At CitadelHealth, we are proud to be associated with SwissLife Prévoyance et Santé (France) and to be able to offer the local market the opportunity to choose from a variety of newly introduced health plans,” he continued.

Camille Grech, manager of Citadel Health Insurance Agency, explained that there are four health insurance plans available: core, comfort, complete and child.

“The Core Plan provides limited cover for unforeseen non-emergency treatment; and minor and intermediate surgeries. The Comfort Plan has enhanced benefits cover for treatments in local private hospital and clinics. The Complete Plan offers the choice of treatment anywhere in the world, while the Child Plan an innovation to the local market provides health insurance protection plan for children,” Ms Grech explained.

“We shall launch a variety of healthy initiatives in the coming weeks, as well as keeping our customers informed of health tips and advice that can help them improve the quality of their wellness,” Angela Tabone, Citadel Insurance plc’s executive director said.

CitadelHealth’s products are available now and offer a variety of advantageous benefits at affordable premiums for the local market.

Citadel Insurance plc was established in 1997 and the company offers a wide range of insurance and investment products. Its present shareholders are The Malta Development Fund Limited, Santumas Shareholdings plc, Le Assicurazioni d’Italia S.p.A (Assitalia), Citadel Ltd, La Valette SICAV Funds and two HSBC SICAV Funds.

Swiss Life was founded in 1857 as Schweizerische Rentenanstalt. Today it a leading life and pensions provider in Switzerland and it is one of the top 10 European life insurance providers. As at the end of 2009, the Swiss Life Group employed a staff of around 8,200. Swiss Life is active in Switzerland, France and Germany, and operates its cross-border business from Liechtenstein, Luxemburg, Singapore and Dubai.

Founded in 1898, Swiss Life (France), a wholly-owned subsidiary of the Swiss Life Group, is today a major player in France for life, health and protection insurance. Swiss Life (France) has been a member of the Swiss Life Network since 1962 and owns a private bank, Swiss Life Banque Privée.

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