GRUPO FINANCIERO BANORTE AND ASSICURAZIONI GENERALI RENEW FOR THE NEXT 25 YEARS THEIR DISTRIBUTION AGREEMENT FOR INSURANCE AND ANNUITIES PRODUCTS IN MEXICO
Dec 13, 2011
OTC Disclosure News Service
Monterrey, N.L. –
Grupo Financiero Banorte, S.A.B. de CV (“GFNORTE”) (BMV: GFNORTEO) and Assicurazioni Generali renewed yesterday the business agreement between the two companies for the next 25 years. This agreement contemplated the joint distribution in Mexico of life, home, car and health insurance, as well as annuities.
This agreement, which began in 1997, allowed Banorte Generali to issue nearly one million life, home, car and health insurance policies during 2011, and also to serve over 90,000 annuities’ customers.
The extension of this agreement will strengthen the market position of Banorte Generali and improve the quality of its services, offering the best protection and benefits to its customers.
GFNORTE reiterates its commitment to the financial community and investors to maintain modern and transparent in information disclosure, strictly in compliance with Mexico’s “Ley de Mercado de Valores” (Securities Market Law).
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.