Corporate Bancassurance Structures: The Case of Greece

Risk Management, Vol. 10, pp. 85-103, 2008

Posted: 14 Apr 2010

See all articles by Panayiotis G. Artikis

Panayiotis G. Artikis

University of Piraeus - Department of Business Administration

Stanley Mutenga

City University - Cass Business School

Sotiris K. Staikouras

City University - Cass Business School; ALBA Graduate Business School

Date Written: 2008

Abstract

The risk management arena engulfs a wide breadth of issues ranging from hedging instruments to risk strategies for multinational giants, and from natural to man-made disasters across the world. When newly developed economies with non-traditional corporate structures come on stage, then the risk management science has a role to play. Close monitoring of these markets becomes essential for future planning and avoids negative externalities for the financial system as a whole. Thus, the current study aims to provide a survey of the bank-insurance ventures in the Greek market. The review unveils the significant changes and rapid growth of the Greek financial services sector. Multinational financial intermediaries have been keen in making their presence felt in the region. This is translated into mergers and acquisitions between banks and insurers, as well as strategic alliances and joint ventures. In parallel with the involvement of international corporate giants, domestic cross-business alliances and corporate partnerships are also present to strengthen the bancassurance trend. The study further proposes a three-dimensional approach for the distribution platform. The three dynamics put forward embrace product complexity, distribution infrastructure and market segmentation.

Keywords: Greek bancassurance, financial intermediaries, insurance markets, banking industry

Suggested Citation

Artikis, Panayiotis G. and Mutenga, Stanley and Staikouras, Sotiris, Corporate Bancassurance Structures: The Case of Greece (2008). Risk Management, Vol. 10, pp. 85-103, 2008. Available at SSRN: https://ssrn.com/abstract=1588959

Panayiotis G. Artikis

University of Piraeus - Department of Business Administration ( email )

M. Karaoli & A. Dimitriou 80 Street
Piraeus, Attiki 18534
Greece
+302104142200 (Phone)

Stanley Mutenga

City University - Cass Business School ( email )

London
United Kingdom

Sotiris Staikouras (Contact Author)

City University - Cass Business School ( email )

106 Bunhill Row
London, EC1Y 8TZ
United Kingdom

ALBA Graduate Business School ( email )

Athinas Ave. & 2A Areos Str.
Vouliagmeni 166 71, Athens
Greece

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