Optimum Reassurance launches joint initiative with XN Financial

    MONTREAL, Dec. 4 /CNW Telbec/ - XN Financial Services (Canada) Inc. today
announced the launch of Optimum Re's Expat PLUS program. The new expatriate
coverage and process, powered by XN Financial state-of-the-art technology aims
to eliminate the hassle involved in securing coverage for expatriates while
giving employers full control over the flow of information and reducing the
risk of error.
    "This new program, designed for Canadian life insurers provides a turnkey
solution, supported by Optimum Reassurance, to solve the increased
international demands faced by domestic insurers' corporate group clients.
This program leverages XN Financial's global infrastructure and provides a
simple yet efficient out-of-country medical benefits insurance program for
Canadian corporations with international assignees," said XN Financial
President and CEO, Daniel Anber.
    "Optimum Reassurance is always looking for the best ways to serve its
clients. Expatriate coverage has always been a challenge to Canadian insurers.
We, at Optimum Reassurance are very pleased to associate ourselves with XN
Financial to bring a top of the line solution to our clients", said Optimum
Reassurance President. Mario Georgiev.
    Expat PLUS is designed for groups with at least ten (10) employees in
Canada that have between one (1) and fifty (50) expatriates with a work
assignment of at least six (6) months.

    Here are some highlights of Expat PLUS:

    - Coverage for all Canadian expatriates, third-country nationals (TCN)
      and key local nationals (KLN)(1) anywhere in the world;
    - 24-hour occupational and non-occupational coverage;
    - Medical and dental coverage available;
    - $5 million USD lifetime medical coverage;
    - Terrorism coverage;
    - Multi-currency reimbursement of claims via wire transfer to member
      bank accounts worldwide;
    - Direct payment to hospitals worldwide for in-patient admissions;
    - International Employee Assistance service;
    - Optional prescription drug card in the United States for larger
    - Three-month automatic coverage within Canada for Canadians returning
      to Canada at the end of their assignments until their PHIP is re-
    - No medical underwriting requirement for employees less than age 65;
    - No pre-existing condition exclusion for any employee and their
      dependent if covered either by a Canadian PHIP or by another
      comparable coverage at time of assignment;
    - Full major-medical coverage and premium rates that provide a
      competitive advantage relative to any other similar product;
    - A unique web-based fulfilment platform that contains reporting
      capabilities and where each stakeholder (insurer, broker, Canadian
      employer and expatriate) can read/add/edit his/her own information;
    - Ability to co-brand the website and the plan documents to include
      either the insurer, the broker/TPA or the employer brand;
    - Fully compliant coverage provided through admitted and A+ rated
      insurers at Lloyd's of London
    - Claims processed by GMC Services with evacuation services coordinated
      by MEDEX Assistance Corporation.

    About XN Financial

    XN Financial is a leading provider of insurance and financial products
designed specifically for the needs of international assignees, high net worth
individuals and directors and officers of publicly traded and privately owned
companies. XN Financial supports its growing portfolio of products with
powerful technology, a global customer service center that offers 24/7
multilingual service and strategic alliances focused in the areas of health,
safety and security. XN Financial Services (Canada) Inc. is headquartered in
Montréal, Québec, Canada, with the XN Global Service Center located in Miami,

    About Optimum Reassurance

    Optimum Reassurance is the leading reinsurer in Canada for Out-of-Country
coverage. Rated A-(Excellent) by A.M. Best, it has been providing group and
individual reinsurance solutions for the Life, Health, Disability, Critical
Illness, Expatriates and Creditor lines to its clients since 1973.
    Optimum Reassurance is part of the Optimum Group conglomerate, with nearly
550 employees in Canada, Europe, the United States and the Caribbean, with
more that $2.5 billion in assets under management. The consolidated
reinsurance operations total $220 million CDN in annual premiums for 2006 and
$135 million CDN of shareholder's equity (US GAAP BASIS) as of December 31,

    (1) Coverage for Key Local Nationals ('KLN's') may be provided where
    regulatory conditions permit and is subject to underwriting approval.
    Local nationals in the United States may be considered under separate
    insurance contracts, the terms and conditions of which will be different
    from those stated in this document.

For further information:

For further information: Paul Coleman, XN Financial, (514) 908-1835,

Organization Profile

XN Financial Services (Canada) Inc.

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