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COPYRIGHT 2003 Financial Times Ltd.
(From Life Insurance International)
UK bancassurers, which lag considerably behind their European peers in terms of market penetration, are poised to start catching up, predicts a new report from market analysts Datamonitor.
The depolarisation of the UK financial advice market - expected in mid- 2004 - will enable banks to distribute life products sourced from multiple vendors rather than just single products, and compete on a more even level with independent financial advisers (IFAs), which currently dominate the UK market.
The market penetration of bancassurers varies dramatically across Europe, ranging from less than 18 percent to 77 percent. Bancassurance has...
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