Group Employee Benefit Plans for Multinational Organizations
Expat Financial offers brokerage services to Canadian, U.S., and other international companies operating outside North America. We provide international group insurance & pension benefits for expatriates, third-country nationals, and key local nationals.
Expat Group Employee Benefit Plans
Our expat group employee benefit plans are available for companies with a minimum of three employees working abroad. This is a natural extension of our extensive work with employee benefits, and we’ve become a leader in providing international expat group insurance plans worldwide.
Expat Financial, which is a division of TFG Global Insurance Solutions Ltd., can even cover some local companies who want the security, portability and quality of an international benefit plan. More and more companies outside of N. America and Europe are looking beyond local insurance companies, where regulations permit. This is especially true in less developed countries.
Expanding into Emerging Markets
An increasing number of Canadian and U.S. companies are opening offices in regions such as Asia, Eastern Europe, Africa, the Caribbean, and South America. These regions often lack local benefits coverage or have limited options available.
Currency and Financial Stability Concerns
In countries where local benefits coverage exists, expatriates face significant challenges like local currency fluctuations. The financial stability of the insurance provider is another key concern for expatriate employees.
Preference for Major Currencies
Many expatriate employees prefer to receive benefits in a major currency, particularly if they become disabled. This preference helps mitigate risks associated with unstable local currencies.
A multinational company with operations in several countries can pool both risk and administration under one plan with insurers like Zurich Life, Aetna Global, Integra Global, Met, BUPA, Allianz, Cigna, Lloyds of London and more. This is ideal for companies with mobile employees who need portable coverage. Pooling risks can also reduce premium rates thanks to economies of scale.