Prudential has formed a Dublin operating division and two strategic alliances with French and German...
Prudential has formed a Dublin operating division and two strategic alliances with French and German life companies to spearhead its drive into European markets, as reported in International Investment September 1999.
An alliance with CNP Assurances, France's largest life company, was signed in late November.
This will cover the provision of products both in France and the UK, and access to parts of each company's distribution networks in their respective home markets. Possibilities under consideration include the sale of with-profits and unitised products.
In Germany, Prudential and Signal Iduna have set up a joint venture life company in Dublin that will supply unit-linked products to Signal Iduna's 6,000-strong tied salesforce and to its broker associates. The first product to be sold will be a long-term care bond. The agreement provides for further development of unit-linked products for the German market and other European countries.
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