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C F Effron: Banks Value High Ratings

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Banks offer insurance mainly to strengthen existing customer relationships, and they care deeply about the strength and reputation of the insurers they work with, a consulting firm says.

C F Effront Company L.L.C., Weston, Conn., a financial institutions insurance consulting firm, has touched on bankers’ attitudes about life insurance partners in their latest look at financial institutions’ life operations.

This year, a life insurer’s ratings top the list of criteria used to select life insurance partners, and the life insurer’s reputation ranks second.