For several years banks have been looking over the fence and seeing green grass and blooming flower beds.
Rather than sticking to the banking business and doing it well, they\’ve been buying insurance agencies, companies and securities operations.
Perhaps they are seeing the costs and limitations of this flower bed. Now that the bloom is off this rose maybe they\’ll go back to the banking business.
Let\’s wait and see the outcome of this litigation; I don\’t think for a minute that this event, and others like it, regardless of the final decision, will quell their appetite for the ever-elusive cross-sell. But I sure agree that we regret terribly the day the barriers to bank ownership of insurance operations were dissolved.
we can always hope….There was the case with Sears-Allstate where, since the interim financing, insurance, and appliances were Allstate and Sears that Sears and Allstate shared in the warranty obligations on the houses. I don\’t remember the details of the case. But I\’ve noticed that Sears, their bank, and Allstate aren\’t attached at the hip anymore.
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For several years banks have been looking over the fence and seeing green grass and blooming flower beds.
Rather than sticking to the banking business and doing it well, they\’ve been buying insurance agencies, companies and securities operations.
Perhaps they are seeing the costs and limitations of this flower bed. Now that the bloom is off this rose maybe they\’ll go back to the banking business.
Let\’s wait and see the outcome of this litigation; I don\’t think for a minute that this event, and others like it, regardless of the final decision, will quell their appetite for the ever-elusive cross-sell. But I sure agree that we regret terribly the day the barriers to bank ownership of insurance operations were dissolved.
we can always hope….There was the case with Sears-Allstate where, since the interim financing, insurance, and appliances were Allstate and Sears that Sears and Allstate shared in the warranty obligations on the houses. I don\’t remember the details of the case. But I\’ve noticed that Sears, their bank, and Allstate aren\’t attached at the hip anymore.