Setting the Scenery
The financial services industry has witnessed considerable changes since the beginning of the eighties. One of the most remarkable trends has been the breaking down of the barriers which existed between the different parts of the financial sector. Now most banks offer a range of insurance products beside their traditional financial services portfolio. On the other hand, quite a number of insurance companies have moved in the direction towards offering financial services. Sometimes this phenomenon has been labelled bancassurance, others have called it all finance and those suppliers are often referred to as financial conglomerates. Sectoral specialists are certainly familiar with most of the terms mentioned. Nevertheless, it is clear that these terms may mean completely different things for different countries, companies or individuals.
KeywordsFinancial Service Joint Venture Life Insurance Insurance Product Credit Institution
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