Discovery, AIA Seek Deals to Bulk up New Asian Insurance Unit
- Duo target growing middle class with Amplify Health business
- Unit may be worth several billion dollars in a decade: CEO
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Discovery Ltd. and AIA Group Ltd.’s new Asian health-insurance technology business will look to bulk up through acquisitions and sees a valuation of several billion dollars over the next decade.
The newly formed Amplify Health will be rolled out in all of AIA’s 18 markets and target a burgeoning middle class and rapidly expanding health-care market, according to a statement Tuesday. It will serve 39 million individual policies at first and has huge potential for growth, the division’s chief executive officer said.