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BMN and CASER establish an alliance for non-life insurance

22 Jul 2011

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BMN has reached an agreement with CASER – the leading Spanish insurance company – for the exclusive distribution of non-life insurance through the network of over 1,500 offices of the financial institution.

This agreement, which also includes the purchase by CASER of the general insurance company of the BMN Group, is the culmination of the strategic alliance that the insurer has maintained over many years in general insurance with the various savings banks that today make up the BMN Group.

CASER and the BMN Group consolidate their relationship in insurance distribution through this alliance. For Ignacio Eyries, General Manager of CASER, this transaction "will not only strengthen our business, but will also reinforce the positioning of CASER on the new bank insurance map that is a consequence of the restructuring of the Spanish financial system".

For its part, Carlos Egea, chairman of BMN, declared that "this first large-scale commercial transaction of BMN allows us to unify our non-life range and concentrate our efforts on offering a more extensive, improved service to our customers".

About BMN

BMN is one of the largest financial groups in Spain with assets worth 70 billion euros and 3.6 million customers, a leader in the Mediterranean Arc and with a strong presence in Madrid. Consequently, its area of activity focuses on over two thirds of the population of Spain and of the Spanish GDP.

About Caser

Caser, a leader in banking and insurance in the Spanish market, is an insurance company with almost 70 years’ experience in the sector and is distinguished by its customer based approach, the quality of its service and the range of its distribution channels. The Group, which has a workforce of over 3,000 employees and more than 20,000 points of sale throughout Spain, offers a wide range of insurance policies of all kinds.