The MoU also sets out the intention to enter into a long-term exclusive bancassurance agreement between NBG and Allianz Greece for an initial term of 10 years, with an automatic five-year extension subject to agreed conditions. The MoU reflects a shared intention by NBG and Allianz SE at a shareholder level, and by NBG and Allianz Greece at operating level, to develop bancassurance as a long-term growth model designed to go beyond a standard distribution arrangement.
The envisaged partnership is intended to support customers to protect what matters, plan ahead and prepare for long‑term financial security, by making insurance and savings solutions simpler and more accessible through an integrated banking and insurance experience.
“This Memorandum of Understanding with Allianz SE marks an important step in strengthening National Bank of Greece’s bancassurance offering. By combining our strong customer relationships and distribution capabilities with Allianz Greece’ insurance expertise, we aim to broaden access to insurance solutions through simpler, more integrated customer journeys, with a clear focus on digital capabilities and service quality”, commented Pavlos Mylonas, Chief Executive Officer of National Bank of Greece.
“This envisaged partnership reflects Allianz SE’s long-term bancassurance strategy and its importance in how we serve customers. By bringing together National Bank of Greece’s strong distribution reach and Allianz Greece insurance expertise and local presence, we aim to broaden access to insurance solutions in a way that is sustainable, well aligned and focused on customer needs, while supporting the long-term development of Allianz Greece”, said Sirma Boshnakova, Member of the Board of Management of Allianz SE.
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