Oscar Signs Quota Share Deal with AXA
Oscar has recently partnered with multinational insurer AXA! It’s a great indicator of Oscar’s solid financials, and committement to growth
Why did Oscar pursue a quota share deal with AXA?
- All health insurers are required to hold a certain percentage of its premiums as “reserves” so that regulators can ensure that carriers have enough money to pay their future claims.
- With the AXA deal, Oscar will cede 50% of its premiums/claims to AXA, which will free up 50% of its capital requirements
- They expect that the deal will free up nearly $100 million in capital over the next few years, providing capital resources as they continue to grow
Oscar also enrolled over 250k members across six states, and expect to generate $1 billion in revenue in 2018. Learn more below:
We’re grateful to have you as a partner during this exciting time of growth at Oscar.