Groupama Seguros looks for further bancassurance sales

Bancassurance accounts for 20% of the Spanish insurer’s business

Groupama Seguros, the Spanish offshoot of the French mutual, has signed a bancassurance agreement with the Valencia-based savings bank Bancaja to offer household insurance policies. Under the 10-year agreement Groupama will become the sole supplier of this line of business to the Spanish bank. The two groups have existing cooperation deals in place, first agreed in 2001.