|
|
Article: Cigna to seek alliances with trust departments and private banks. (life insurance company wants to reach wealthy customers)
- Article from:
- American Banker
- Article date:
- March 13, 1997
- Author:
CopyrightCOPYRIGHT 1997 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Cigna Corp. has set its sights on the cream of banks' crop: private banking and trust clients.
The Bloomfield, Conn.-based insurer is recruiting six sales people to knock on doors of trust departments and private banks, as well as wire houses, in the most affluent regions of the country.
They will be competing against teams from other big insurers, including Massachusetts Mutual Life Insurance Co., Northwestern Mutual Life Insurance Co., Manufacturers Life Insurance Co., Allmerica Financial Life Insurance and Annuity Co., and Equitable, that are seeking access to bank's richest customers.
"There has been a huge push by insurance companies to build ...