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.

Financial Services, Finance and Insurance, Financial services industry, Zurich Insurance Co. (Zurich, Switzerland), B.A.T. Industries PLC, Kemper Corp., KEM, Scudder, Stevens and Clark Inc.

---

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.

Planning, Acquisitions and mergers, Column

---

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.

Marketing

Similar abstracts:

• Abstracts: Winning the fraud game. Fraud battle paying off
• Abstracts: Multiplying agency sales. With loss control in mind
• Abstracts: Taking the air out of air bag concerns. Making investments in America's communities. New age in communication is challenging the industry
• Abstracts: Going contingent. Fee-based compensation replaces shrinking income
• Abstracts: Choosing a competitive advantage. Up close and personal will always have its place. Identifying key agents cuts carriers' costs

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.