MILAN (Reuters) -Italy's biggest insurer Generali said on Thursday it would start offering the 1.9 million clients of its Alleanza Assicurazioni unit banking products provided by its private banking
Generali's Alleanza Partners with Banca Generali for Insurbanking
Overview of the Insurbanking Partnership
MILAN (Reuters) -Italy's biggest insurer Generali said on Thursday it would start offering the 1.9 million clients of its Alleanza Assicurazioni unit banking products provided by its private banking arm Banca Generali.
Details of the Agreement
Generali said its two subsidiaries would strike an "insurbanking" partnership allowing insurer Alleanza's 10,000 agents, of which almost a third are also financial advisers, to offer customers current accounts and investment products.
Benefits for Alleanza and Banca Generali
Generali said the accord aimed to help Alleanza increase its market share and diversify its sources of revenue, while Banca Generali would develop its asset management business by running the funds Alleanza would start offering its customers through new insurance policies.
(Reporting by Valentina Za, editing by Gianluca Semeraro)
