Moving ahead of lawmakers
Article Abstract:
Several US financial services industries have boldly joined forces with security firms and banks despite current state restrictions on the merging of banks and insurance companies. Zurich Group, for instance, has announced its 1997 acquisitions of Kemper Corp, Scudder, Stevens and Clark, and B.A.T. Industries' financial service units, as part of the insurance company's strategy to attain world-class banking and insurance recognition. Likewise, many other banks and insurance companies have recognized the advantage of forming strategic alliances even as Congress currently debates financial services modernization.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1998
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As banks move in, consider selling out
Article Abstract:
Insurance firm officials should consider selling their businesses as banks enter the insurance marketing business. The selling price is typically higher to a bank than to other interested parties. Important to the transaction is the retention the insurance firm's knowledgeable, key personnel, because bank officials know very little about running an insurance firm. The disadvantage may be that there is less motivation to do well if the bank owns the operation.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1996
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Bancassurance lessons from abroad
Article Abstract:
The selling of life and other insurance products through banks has already begun in France, and US companies can look to it for lessons. Early indications are that in a market where banks sell insurance, private insurance agents suffer continued loss of market share. Larger insurers will be forced to join ventures with banks to provide products jointly. Banks currently sell as much as 80% of all insurance products in the country.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1996
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