European Integration: Strategic Implications for the Marketing of Long‐term Insurance

The advent of the Single European Market will have a significant effect on the competitive position in EC life insurance markets. This arises not only from enhanced freedom of establishment and the freedom of services to conduct cross‐frontier trade in insurance, but also from the deregulation of insurance markets in some Community countries which allow links between banks and insurers. The development of a Single Market in life insurance is described and the opportunities and threats for insurers are examined. The alternative strategies available to insurers are evaluated, with particular attention paid to costs and benefits of bank/insurance links.