April SA's board of directors on Dec. 7 approved the company's plan to reorganize its operations in Switzerland and the U.S.
In Switzerland, April will focus solely on international student health insurance, having sold its assistance operations and launched the run-off of its health insurance portfolios.
In the U.S., the French company will outsource assistance claims handling for the Spanish- and English-speaking countries of the American continent to a third-party service provider. April will shift its focus back to travel insurance distribution through partnerships with travel insurance aggregators and online travel agencies.
The group expects these measures to generate an impairment on some of its assets totaling €16 million, with no impact on cash and €1 million in restructuring costs for 2016. The company expects to continue to carry out its international business reorganization in 2017 with a less significant impact.