Getin Noble Bank extended terms of bancassurance deals
Getin Noble Bank has moved to extend terms with insurance partners for bancassurance deals tied to a related Polish insurer, Getin Noble Bank said in a market filing.
The bank signed a letter of intent with to-date partners Talanx International AG, Meiji Yasuda Life Insurance Company, listed related financial group Getin Holding and related Polish insurers Europa.
An eventual deal will extend a 2011 bancassurance deal through 2026, put in a new incentive system for partners including Getin Noble Bank, leaving current earnings expectations of the Polish insurers intact.
Getin Noble Bank will additionally negotiate with partners a five-year extension of its commitments to retain a stake in the TU Europa insurer and its buy and put options on another stake.