Limitations to Merging Lines of Business
Over the past decade, deregulation and the growth of the financial markets have caused the respective domains of banking, insurance and industry to change fundamentally. The boundaries between the three have become blurred. Banks are offering insurance, insurance companies are taking controlling interests in banks, and industrial concerns are now active in financial markets, trading in financial instruments and forex via the trading rooms they have opened. Regulations are evolving and countries which have not hitherto authorised cross-shareholdings between these three sectors are now planning to do so. The time is right therefore to reexamine the question of respective territories for banking, insurance and industry.
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