AXA Global Healthcare Forges Strategic Alliance with Old Mutual and EHS to Dominate Africa’s IPMI Market

NAIROBI, Kenya – In a transformative move that signals AXA Global Healthcare’s long-term commitment to the African market, the global insurance leader has announced an exclusive distribution agreement with Executive Healthcare Solutions (EHS) for all international private medical insurance (IPMI) sold across Africa. The landmark partnership, which includes local underwriting by Old Mutual General Insurance Kenya, represents a strategic realignment that will fundamentally reshape how IPMI products are distributed throughout the continent.

The exclusive arrangement, which became effective for business incepted from October 1, 2025, means that all advice firms and brokers conducting IPMI sales in Africa with AXA Global Healthcare must now channel their business through EHS. This sole distribution model consolidates AXA’s African operations under a single, experienced partner with deep regional expertise and an established track record spanning more than 25 years in Sub-Saharan Africa.

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A Tripartite Model Redefining African Health Insurance

The partnership establishes a powerful tripartite business model that combines three complementary strengths: AXA Global Healthcare’s international medical network of 1.92 million providers, Old Mutual’s trusted local underwriting capacity and regulatory compliance expertise, and Executive Healthcare Solutions’ extensive distribution network and intimate knowledge of African healthcare needs.

For policies in Kenya specifically, all AXA Global Healthcare products will be underwritten locally by Old Mutual, one of East Africa’s leading health insurers. This arrangement ensures that customers benefit from the combination of AXA’s world-class global healthcare standards and Old Mutual’s trusted local market expertise, while maintaining full compliance with local regulatory requirements set by the Insurance Regulatory Authority (IRA).

Speaking about the collaboration, Japheth Ogalloh, Managing Director at Old Mutual General Insurance Kenya, emphasized the strategic significance of the partnership: “We are proud to collaborate with AXA Global Healthcare in delivering high-quality, globally recognised health insurance solutions to individuals and businesses in Kenya. This partnership strengthens Old Mutual’s mission to provide accessible, trusted, and customer-focused healthcare protection that meets the needs of a dynamic and globally connected population.”

The Global Executive Health Plan: A New Standard for Africa

At the heart of this exclusive distribution agreement lies the newly developed Global Executive Health Plan (GEHP) – an innovative insurance product specifically designed to deliver both comprehensive global and regional medical coverage. The GEHP has been carefully crafted to closely match existing customer benefits while providing enhanced features that address the unique healthcare challenges faced by individuals and businesses operating in African markets.

The product is tailored to serve multiple customer segments including high-net-worth individuals, expatriates, Small-to-Medium Enterprises (SMEs), and corporate organizations requiring dependable medical solutions both locally and internationally. With Kenya’s IPMI market projected to grow by more than 10% annually, the timing of this product launch positions AXA Global Healthcare to capture significant market share in what is emerging as one of Africa’s fastest-growing insurance segments.

Andy O’Cain, Global Head of Distribution at AXA Health International, articulated the company’s ambitious goals for the African market: “Our goal is to become the leading player in East Africa’s IPMI market – and this dual collaboration gives us the perfect platform to achieve that. Following our successful partnership with Daman Insurance, the unrivalled market leader in domestic health insurance in the UAE – the world’s second largest international health insurance market – we continue building relationships with market leaders.”

O’Cain further emphasized the strategic value of partnering with EHS: “EHS’s deep regional expertise and extensive network, combined with AXA’s global strength, mean we are uniquely placed to deliver for both existing and new customers.”

EHS’s Quarter-Century of African Healthcare Expertise

Executive Healthcare Solutions brings invaluable assets to this partnership, most notably its extensive experience navigating the complex and diverse African healthcare landscape. Having operated in Sub-Saharan Africa for more than 25 years, EHS has developed an intimate understanding of the unique challenges, regulatory environments, and cultural considerations that influence healthcare delivery and insurance uptake across the continent.

The broker currently serves over 15,000 members across Kenya, Tanzania, Uganda, Zimbabwe, Zambia, Malawi, Botswana, the Democratic Republic of Congo, Angola, Mauritius, Ghana, and Mozambique. With 150 staff members strategically positioned across these markets and an impressive claims payment ratio of 96%, EHS has established itself as one of Africa’s most reliable international health insurance distributors.

Aly Maherali, CEO at Executive Healthcare Solutions, expressed enthusiasm about the exclusive partnership: “Our deep understanding of the African market means we know what clients truly need from their international health cover. By collaborating exclusively with AXA Global Healthcare, we’re able to offer solutions supported by a trusted global brand – giving our clients confidence and peace of mind as they navigate today’s complex healthcare landscape.”

Maherali continued: “It is through collaborations such as this, that we are able to fully realise our vision of reimagining global healthcare in Africa. Having operated in Sub-Saharan Africa for over 25 years, we understand the market, and we are committed to meeting the needs of all our clients through efficient and customer centric service.”

The exclusive arrangement between AXA and EHS includes the renewal-based transfer of EHS’s existing IPMI customer portfolio across multiple African countries, effective from August 1, 2025. This portfolio transfer covers both individual and SME clients, providing AXA Global Healthcare with immediate market presence and an established customer base across several key African markets.

Strategic Implications for the African Insurance Market

This partnership represents more than just a distribution deal – it signals a fundamental shift in how international private medical insurance will be marketed and sold throughout Africa. The exclusive nature of the arrangement means that all existing broker relationships and distribution channels for AXA Global Healthcare products in Africa will need to be restructured to flow through EHS.

For advisors and intermediaries who have been selling AXA Global Healthcare IPMI products independently in African markets, this represents a significant change. These firms will now need to establish relationships with EHS to continue offering AXA products to their clients. While this consolidation may initially create some disruption, it promises to deliver greater consistency in product delivery, customer service, and claims handling across the continent.

Karim Idilby, Chief Growth Officer at AXA Health International, emphasized the strategic importance of the African market to AXA’s global growth plans: “Collaborating with Old Mutual represents a major milestone in our global growth strategy – and more importantly, in our long-term commitment to Africa. Old Mutual’s leadership position in Kenya and Africa makes them an ideal partner, particularly as we focus on the individuals and SMEs strategic growth segments.”

The Regulatory Landscape and Local Compliance

One of the most significant aspects of this partnership is its attention to local regulatory compliance. In many African markets, including Kenya, insurance regulations have become increasingly stringent, requiring local underwriting arrangements for products sold within their jurisdictions. By partnering with Old Mutual for underwriting in Kenya and potentially other markets where Old Mutual operates, AXA Global Healthcare positions itself to meet these regulatory requirements while maintaining the flexibility of its international product offering.

Kenya’s Insurance Regulatory Authority has been progressively tightening oversight of international health insurance products sold in the country, seeking to ensure that policyholders are adequately protected and that insurers maintain sufficient local capacity to handle claims and customer service. This regulatory environment makes partnerships with established local insurers like Old Mutual increasingly important for international insurers seeking to maintain or expand their African presence.

The local underwriting arrangement also provides customers with additional confidence that their policies are backed by a locally licensed and regulated insurer with physical presence and accountability within their home market. This addresses one of the historical concerns about purely international insurance arrangements – the challenge of enforcement and claims resolution when the underwriter has no local presence.

Market Context: Africa’s Growing IPMI Opportunity

The timing of this partnership reflects AXA Global Healthcare’s recognition of Africa’s emerging importance in the global IPMI market. Several factors are driving growth in demand for international health insurance across the continent:

Rising Middle Class and High-Net-Worth Population: Africa’s growing affluent population increasingly seeks access to quality healthcare both within their home countries and internationally. Many African healthcare systems face capacity constraints, leading those who can afford it to seek treatment abroad for complex procedures or specialized care.

Expanding Expatriate Communities: As Africa attracts more foreign direct investment and international businesses establish operations across the continent, the number of expatriates requiring international health coverage continues to grow. These expatriates, along with returning African diaspora, create a natural market for IPMI products.

Corporate Growth and SME Expansion: African businesses, particularly in the SME segment, are increasingly providing international health benefits as part of their employee value propositions. This trend is particularly pronounced in sectors like technology, finance, and professional services where competition for talent is intense.

Medical Tourism and Cross-Border Treatment: Growing recognition of the limitations of some domestic healthcare systems has led to increased medical tourism from African countries to destinations like India, South Africa, UAE, and Europe. IPMI products that facilitate this cross-border healthcare access are increasingly valuable.

Regulatory Developments: Many African countries are updating their insurance regulations to better accommodate and regulate international health insurance products, creating a more favorable environment for legitimate IPMI providers.

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Competitive Positioning in a Fragmented Market

The African IPMI market has historically been characterized by fragmentation, with numerous international and regional insurers competing for market share alongside local health insurance providers. AXA’s decision to consolidate its African distribution through a single, highly experienced partner represents a strategic bet that scale and consistency will trump the flexibility of multiple distribution channels.

This approach contrasts with some competitors who maintain multiple broker relationships across different African markets. AXA’s strategy appears designed to achieve several objectives:

Brand Consistency: By channeling all African business through EHS, AXA can ensure consistent messaging, product positioning, and customer experience across diverse markets.

Operational Efficiency: Dealing with a single distribution partner simplifies administrative processes, claims handling, and customer service coordination.

Market Intelligence: EHS’s comprehensive presence across multiple African markets provides AXA with valuable insights into regional trends, competitive dynamics, and emerging opportunities.

Risk Management: The exclusive relationship allows for better oversight of distribution practices, compliance with regulations, and maintenance of underwriting standards.

Building on UAE Success

AXA’s African expansion builds on its recent successful re-entry into the UAE market through a partnership with Daman Insurance. That arrangement, which saw AXA partnering with the UAE’s largest health insurer to access the world’s second-largest international health insurance market, provides a template for the African strategy.

The UAE partnership demonstrated AXA’s willingness to work with dominant local players rather than attempting to build market presence independently. This approach acknowledges the importance of local expertise, regulatory knowledge, and established distribution networks in successfully penetrating complex insurance markets.

O’Cain specifically referenced the UAE experience when discussing the African partnership: “Following our successful partnership with Daman Insurance, the unrivalled market leader in domestic health insurance in the UAE – the world’s second largest international health insurance market – we continue building relationships with market leaders.”

Technology and Digital Innovation

An important dimension of this partnership involves leveraging technology to enhance customer experience and operational efficiency. AXA Global Healthcare has been investing significantly in digital platforms and mobile applications, including its recently launched all-in-one health app that combines health insurance services with virtual care and wellbeing features.

These digital tools provide members with:

• 24/7 Access to Virtual Doctors: Unlimited real-time access to over 450 qualified doctors worldwide via phone or video chat
• Mental Health Support: Appointments with psychologists over phone or video call for up to 6 sessions
• Claims Management: Easy online claims submission and tracking
• Health Records: Secure storage and access to policy documents and medical records
• Provider Search: Hospital and clinic locator within the global medical network

For African markets, where physical access to customer service centers may be limited in some regions, these digital capabilities become particularly valuable. EHS’s role in this partnership will include facilitating customer adoption of these digital tools while maintaining traditional service channels for those who prefer personal interaction.

Implications for Existing Broker Relationships

The exclusive nature of this distribution agreement raises important questions about existing broker relationships. Advice firms and insurance brokers who have been placing IPMI business with AXA Global Healthcare in African markets will need to adapt to the new distribution model.

Several scenarios may emerge:

Referral Arrangements: Existing brokers may establish referral relationships with EHS, receiving commissions for introducing clients while EHS handles the administrative aspects of policy placement and servicing.

Direct Integration: Some brokers may choose to work more closely with EHS, potentially integrating their operations or establishing formal partnerships to maintain access to AXA products.

Alternative Providers: Brokers who prefer to maintain independence may shift their AXA business to other international insurers who maintain more open distribution models, though this could result in loss of access to AXA’s product suite and global network.

Market Consolidation: The exclusive arrangement may accelerate consolidation in the African insurance brokerage market, with smaller players either partnering with larger firms that have EHS relationships or exiting the IPMI market entirely.

Coverage Features and Product Design

The Global Executive Health Plan has been designed to address the specific needs of individuals and organizations operating in African contexts. While comprehensive product details have not been fully disclosed, the plan is structured to provide:

Global Medical Access: Coverage for medical treatment across AXA’s network of 1.92 million healthcare providers worldwide, ensuring access to quality care whether in Africa, Europe, Asia, or the Americas.

Regional Flexibility: Recognition that many African-based customers require coverage both for local treatment in their country of residence and for medical care in regional hubs like South Africa, Kenya, or outside the continent entirely.

Evacuation Services: Critical for African markets, where access to specialized medical care may require emergency evacuation to centers of excellence either within the continent or internationally.

Chronic Condition Management: Comprehensive coverage for ongoing conditions that require consistent monitoring and treatment, addressing a major gap in many basic health insurance products.

Maternity Benefits: Recognizing the importance of quality maternity care access for expatriate and local populations.

Preventive Care: Coverage for routine checkups, screenings, and preventive services to encourage proactive health management.

Mental Health Services: Increasingly recognized as essential, particularly for expatriate populations dealing with the stresses of relocation and cultural adaptation.

The Road Ahead: Growth Projections and Market Evolution

Industry analysts view this partnership as a significant indicator of where the African IPMI market is heading. The consolidation of distribution channels, emphasis on regulatory compliance through local underwriting, and focus on digital service delivery represent trends likely to shape the market’s evolution over the coming years.

With Kenya’s IPMI market alone projected to grow at over 10% annually, and similar growth trajectories expected in other major African economies, the potential market opportunity is substantial. However, success will depend on several factors:

Economic Stability: Continued economic growth and currency stability in key African markets will be essential for sustaining IPMI demand and affordability.

Regulatory Environment: Supportive yet robust regulatory frameworks that protect consumers while allowing innovation will be crucial.

Healthcare Infrastructure: Improvements in local healthcare quality may reduce some drivers of IPMI demand, though it will also make local treatment more viable for insured populations.

Competitive Response: How other international insurers respond to AXA’s exclusive distribution model may influence whether this approach becomes the industry standard or remains an outlier.

Technology Adoption: Success in leveraging digital tools to overcome Africa’s geographical challenges will be critical to achieving operational efficiency and customer satisfaction.

Conclusion: A Watershed Moment for African Health Insurance

AXA Global Healthcare’s decision to establish an exclusive distribution arrangement with Executive Healthcare Solutions, coupled with local underwriting through Old Mutual, represents a watershed moment in the evolution of Africa’s international private medical insurance market. This strategic realignment reflects both the growing importance of African markets in the global IPMI landscape and the recognition that success in these markets requires deep local expertise, regulatory compliance, and scale.

For customers – whether individuals, expatriates, or corporate clients – the partnership promises enhanced access to world-class healthcare through a combination of global expertise and local knowledge. For the insurance industry, it provides a case study in how international insurers can successfully navigate complex, regulated markets through strategic partnerships rather than attempting to go it alone.

As the partnership moves from announcement to implementation, its success or failure will likely influence how other global insurers approach the African market. If AXA’s exclusive distribution model proves successful in driving market share growth while maintaining service quality and regulatory compliance, it may establish a new template for international health insurance distribution in emerging markets worldwide.

The coming months and years will reveal whether this bold strategic move positions AXA Global Healthcare as the dominant player in East Africa’s IPMI market as the company aspires, or whether the constraints of an exclusive distribution model limit its ability to fully capitalize on Africa’s growing opportunity. What is certain is that the partnership represents a significant commitment to the African market and a recognition that the continent’s role in the global IPMI industry is only beginning to emerge

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By: Montel Kamau

Serrari Financial Analyst

4th November, 2025

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