|
|
Article: First Union opens a Door.(bank insurance sales)
- Article from:
- American Banker
- Article date:
- December 9, 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)
|
First Union Corp. is plunging into the tricky waters of commercial property and casualty insurance for midsize and small customers.
The Charlotte, N.C.-based banking company committed to the business earlier this year after testing the market for nearly six months following its October 1996 acquisition of a small Virginia brokerage company. Now, First Union is getting ambitious.
"For all of the services that we offer, we want to be the dominant provider in the market," said David de Gorter, president of First Union Insurance Group. First Union is pushing toward leadership in commercial property and casualty even as most other banks shun the segment.
...