AIA Group and Discovery to form Amplify Health.

AIA Group, a provider of life insurance products and services, and Discovery, an integrated financial services organization specializing in health insurance, life assurance and wellness, agreed to form Amplify Health, a join venture engaged in the pan-Asian health insurtech business. Financial terms were not disclosed. “As we look to the future, we see an urgent need for better, simpler and more affordable healthcare, and an expanding protection gap for the growing population in the region. These factors, combined with the fundamental drivers of growth in Asia, present an extraordinary opportunity. Amplify Health is the natural next step in our journey from payor to partner, enabling us to play a leading role in shaping the transformation of the development and delivery of healthcare in Asia. Discovery is a partner who is equally passionate about creating value for all stakeholders," Lee Yuan Siong, AIA CEO and President.