Yahoo Finance MetLife (MET), GeoBlue Unveil Globaline for Expatriate Benefits
MetLife, Inc. MET recently teamed up with the international health solutions provider for the Blue Cross Blue Shield companies, GeoBlue, to introduce Globaline. GeoBlue is supported by 15 Blue Cross Blue Shield companies and Bupa.
Being an expatriate benefits solution, Globaline has been devised with the collective expertise of two global benefits leaders and combines health and ancillary insurance under a single roof. While medical, dental, vision, prescription, wellness, an international employee assistance program, and political and natural disaster assistance services of GeoBlue form a part of the newly launched solution, MetLife Worldwide Benefits' life, accidental death & dismemberment, and long-term disability insurance products have been included in it. These MetLife services are offered as part of the Group Benefits business.
Services related to grief counseling, will preparation, digital estate planning and estate resolution are also provided with the newly launched solution.
Therefore, Globaline is a comprehensive plan crafted for ease of implementation and management for providing medical and ancillary coverage to expatriates, a term used for persons residing out of their country of citizenship.
A unified proposal for the entire coverage suite and a single point of contact for all services, from account servicing to implementation, enrollment and renewal, highlights the lucrativeness of the newly launched solution. Available for quotes now, Globaline can be availed by groups with effective or renewal dates beginning Jan 1, 2025.
The recent collaboration with GeoBlue will enable MetLife customers to reap the benefits of the extensive global health capabilities and medical networks of the former. Also, MET will get access to the Blue Cross and Blue Shield networks in the United States and globally through the tie-up, which in turn, may serve as a means for MET to gain more customers.
Expatriate medical coverage is essential for ensuring that expatriates have access to quality healthcare globally, thereby protecting them from significant financial burdens due to unexpected medical expenses. This coverage provides peace of mind, enabling expatriates to focus on their work and personal life. It also ensures compliance with local regulations. Therefore, Globaline seems to perfectly capitalize on the solid demand for expatriate benefits solutions.
Shares of MetLife have gained 29.9% in the past year compared with the industry’s 25.8% growth. MET currently carries a Zacks Rank #3 (Hold).
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Stocks to Consider
Some better-ranked stocks in the insurance space are Reinsurance Group of America, Incorporated RGA, NMI Holdings, Inc. NMIH and RLI Corp. RLI. While Reinsurance Group sports a Zacks Rank #1 (Strong Buy), NMI and RLI carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Reinsurance Group’s earnings surpassed estimates in each of the last four quarters, the average surprise being 19.48%. The Zacks Consensus Estimate for RGA’s 2024 earnings indicates an improvement of 5.3% from the year-ago reported figure while the same for revenues implies growth of 12.9%. The consensus mark for RGA’s earnings has moved 1.4% north in the past 30 days.
The bottom line of NMI outpaced earnings estimates in each of the last four quarters, the average surprise being 8.60%. The Zacks Consensus Estimate for NMIH’s 2024 earnings indicates an improvement of 10.7% from the year-ago reported figure while the same for revenues implies growth of 11.1%. The consensus mark for NMIH’s earnings has moved 4.9% north in the past 60 days.
RLI’s earnings surpassed estimates in three of the trailing four quarters and missed the mark once, the average surprise being 132.39%. The Zacks Consensus Estimate for RLI’s 2024 earnings indicates an improvement of 18.4% from the year-ago reported figure while the same for revenues implies growth of 15.6%. The consensus mark for RLI’s earnings has moved 1.9% north in the past 60 days.
Shares of Reinsurance Group, NMI and RLI have gained 45.2%, 31.5% and 2.9%, respectively, in the past year.
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