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.
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.
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)
