The Retail Germany segment involves bancassurance business across Germany and sale of insurance policies at partner banks.
Bancassurance does not spread the burden of costs much, says Andrew Goodwin at Commerzbank.
But making the idea work in Switzerland, currently a bancassurance backwater, will not be easy.
Yet one successful Benelux country, he says, does not mean that bancassurance works as a general model.
He admits that bancassurance works in countries such as Belgium, where insurance is not sold through agents tied to insurers.
The Retail International segment comprises of bancassurance activities in foreign markets and insurance products such as car, property and casualty, marine, and fire insurance.
Yet bancassurance has certainly not taken off widely as a business model.
Bancassurance holds less attraction for commercial customers seeking more sophisticated policies.
In a report published this week, Datamonitor, a consultancy, points out that 82% of European bancassurance groups have lower costs than the average traditional life insurer.
This idea, known as bancassurance, has been tempting banks and insurers across Europe for years, although it seems so far to be easier to talk about than implement.
The company has around 3, 137 life planners in Japan and is expanding its bancassurance model to mega and regional banks, which currently encompasses over a hundred distributors across the country.
Bancassurance, for instance, and the vogue for cross-selling, were the logic behind last year's merger of Citicorp and Travelers, a bank and an insurer which think they will sell customers each other's products.
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