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.
Camp Mystic, Where Texas Floods Killed 28, Files Bankruptcy 
Flood Insurance Gap Will Squeeze Local Governments and Homeowners, Moody’s Says 
NAIC Says Data Taken in Hack Has Been Published Online 
‘Ghost Broker’ Who Procured 1,120 Policies Through Fraud Arrested 
