NU Online News Service, Jan. 3, 3:53 p.m. – Prudential P.L.C., London, says it has signed a marketing agreement with Espace Patrimoine Conseil, a unit of Credit Mutuel de Bretagne, Brest, France.
Credit Mutuel will Prudential sell its Prudential Europe Vie life insurance, Prudential says.
The British Prudential, which is not related to Prudential Financial Corp., Newark, N.J., established Prudential Europe Vie in January 2001 to reach the French market. Previously, the unit sold insurance in France through agents affiliated with a unit of Credit Foncier de France, Paris.
The Prudential Europe Vie unit has already generated more than $60 million in revenue in its first 11 months of operation, but Prudential believes adding more marketing channels will increase total revenue without hurting existing distribution partners, the company says.