AXA, Allianz vie for StanChart general insurance distribution deal: sources

AXA, Allianz vie for StanChart general insurance distribution deal: sources
 

AXA (AXAF.PA) and Allianz SE (ALVG.DE) have advanced to the second stage of bidding for a Standard Chartered (STAN.L) distribution deal that would enable sale of general insurance products through the bank's Asian branches, people familiar with the matter said.
Standard Chartered's existing partner, Japan's MS&AD (8725.T), and another Japanese insurer had also made an initial bid, sources said. It was not immediately clear if MS&AD had qualified for the second round.
The deal could be worth around $300 million, calculated on the basis of an upfront payment to access the branch... read more

 
30 September 2016 in Business, Views: 38
Source: Reuters
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