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CIGNA AND DEUTSCHE BANK SUBSIDIARY SIGN AGREEMENT TO COOPERATE IN MARKETING EMPLOYEE BENEFITS COVERAGES TO SPANISH COMPANIES

Pact Enhances Local Customer Service Capabilities of Both Insurers
 BARCELONA, May 26 /PRNewswire/ -- CIGNA Insurance Company of Europe SA-NV (CIGNA) and the Deutsche Bank Life Insurance Company (DB Life) have agreed to cooperate in providing employee benefits insurance coverages to businesses operating in Spain.
 Under the agreement, CIGNA and DB Life will leverage their respective product and service portfolios for the purpose of marketing and selling locally a full range of employee benefits -- including life, health, accident and pension coverages.
 "The agreement enables us to respond more effectively to the needs of local firms," said Jose Arbizu, general manager of the employee benefits operation of CIGNA Insurance Company of Europe SA-NV, in Madrid. "CIGNA is pleased to be in a position now to offer DB Life's life insurance product and thus enhance the insurance protection we provide for our customers. At the same time, our Ventaja CIGNA program will enable DB Life to focus more intently on meeting the insurance needs of its customers."
 Ventaja CIGNA is an innovative corporate health and accident program marketed in Spain by CIGNA.
 DB Life, which began operations in September 1989, is the life insurance subsidiary of Deutsche Bank, one of Europe's most influential financial institutions and the first German bank to establish a life subsidiary.
 With a network of facilities in major international markets, CIGNA International Financial Services helps multinational companies manage benefit programs for employees based around the world. CIGNA affiliates also market and sell special risk coverages for businesses, along with a broad range of insurance products for individuals.
 The CIGNA companies are leading providers of insurance, health care, employee benefits, pension and investment management services to businesses and individuals around the world.
 /delval/
 -0- 5/26/93
 /CONTACT: Paul Gallanda of CIGNA, 215-761-4746/
 (CI)


CO: CIGNA Insurance Company of Europe; Deutsche Bank Life Insurance
 Company ST: Pennsylvania IN: INS SU:


CC -- PH032 -- 2549 05/26/93 14:57 EDT
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Publication:PR Newswire
Date:May 26, 1993
Words:319
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