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.
US Efforts to End Iran War Stumble as Ship Seized Near UAE 
New York State Has Budget Deal That Includes Auto Insurance Reforms: Gov. Hochul 
High-Powered Dads Are Spending Less Time at Work, More on Childcare 
Brown & Brown Wins Temporary Injunction Against Howden 
