The U.K.’s venerable Barclays Bank announced that it would enter into an alliance with life and pension insurer Legal & General to sell its products in Barclays branches.
Barclays will phase out its own pension and insurance plans beginning in April to concentrate on L&G’s portfolio of services. It hopes to double sales of long term savings, protection and investment products within four years.
The move is seen by financial analysts as another sign of the increasing popularity of the “bancassurance” model in the U.K., similar to those that exist in most Continental European countries.
Was this article valuable?
Here are more articles you may enjoy.
AIG’s General Insurance Q3 Underwriting Income Down 29% 
Allstate’s AI Ecosystem to Include a Personal Agentic Assistant for Customers 
Pennsylvania Public Adjuster Law Adds Cap on Fees, Bans Ties With Contractors 
US Court Reinstates ‘Sunday Ticket’ Class Action Verdict Against NFL 
