Aviva has concluded a partnership agreement in RussiaFrance - July 2007
The British insurance company Aviva and the Russian bank MDM Bank announced at the end of June 2007 that they have concluded a bancassurance partnership agreement. Under the terms of this agreement, Aviva will insure MDM bank cardholders and will offer, from 1st September 2007, life insurance and savings products to all the Russian bank’s customers. These products will be distributed in MDM Bank branches. MDM Bank, which was set up in 1993, is one of the big four private Russian banks and has a network of more than 100 branches spread between almost forty cities.
News summary compiled by Efma Information Services |
News & trends
Banque Postale to distribute insurance products
France - May 2008
Banque Postale, the banking arm of the French Post Office was given the green light at the end of April 2008 to extend its range of financial services to casualty insurance (home and automobile insurance). Banque Postale intends to start marketing its first automobile insurance contracts in 2010. Before then, it will have to select a partner, via a call for tenders type procedure, with which it will set up a joint venture, then design and prepare its products. The same procedure has already been launched for consumer credit products that Banque Postale was authorised in November 2007 to offer to its customers. Even if it will take time for Banque Postale to put in place and start marketing its new products, its network of 17 000 points of sale will make it a serious competitor for other insurance and bankassurance companies.
Keywords : bankinsurance
Accounts : La Banque Postale
News summary compiled by Efma Information Services
Related news
Banks are gradually making inroads into the insurance marketFrance - February 2010
According to a survey published by Precepta, French banks are expected to continue to nibble bits of market share in traditional insurance networks. The growth rates recorded by almost all of them in personal casualty insurance confirm that they are gaining ground. Apart from the two pioneers in this area (Crédit-Mutuel and Crédit Agricole, which have more than 30% of customers having contracted at least one casualty insurance contract), “non-life bancassurance” remains an emerging activity. The survey also reveals that the promise of added value provided by bancassurance is still “too intangible” and that the perception by customers of the advantages of bancassurance is still confused.
News summary compiled by Efma Information Services |
Bancassurance partnership in the United KingdomFrance - January 2010
Marsh & McLennan, the insurance broker and the British bank HSBC announced in mid-December 2009 that they had concluded an agreement whereby Marsh would acquire the HSBC subsidiary, HSBC Insurance Brokers, for an amount of approximately 135 million pounds, payable in shares and cash. The transaction is due to be finalised at the end of the first quarter 2010. The agreement between the two companies also provides for Marsh to have preferred access to provide insurance brokerage and risk management services to the bank’s retail and corporate customers.
News summary compiled by Efma Information Services |
