Swiss Life and Valiant eye tie-up

Swiss Life and Valiant are discussing a distribution partnership, which may include the insurer taking a stake in the bank, Swiss newspaper Sonntag reported yesterday. The tie-up would be a return to the bancassurance model once pursued by rivals such as Zurich Insurance and Winterthur, in which an insurer sells its products to a bank’s clients. Under such partnerships insurance companies can expand their customer bases without increasing their sales forces or paying commissions to agents, while banks can earn additional revenue by selling insurance products.

Swiss Life declined to comment on the report, while Valiant was not immediately available.