In an unusual move, BBVA Seguros, the insurance subsidiary of Spain's second largest bank, BBVA, has teamed up with an insurance company to design an insurance package for small and medium-sized enterprises (SMEs).
The insurance company, whose identity has not been revealed by the bank, will assume the risk and will help distribute the product.
BBVA already works with French insurance group Axa in this sector, where the two groups own 50 per cent of the insurer Direct Seguros.
Source: Expansion
