I am not sure of the specifics but from face value it looks a bit like ANZ/ING reselling each other products to each others clients in addition to a Swiss group providing backline underwriting perhaps of the Insurance for OMP. In essence this would mean greater assurances of getting paid, and a broader market to sell to for all concerned with little cost to achieve new sales. With no specifics though we will just have to see how it all pans out.
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Peter Batten, MD
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