Cigna, Korea Exchange Bank discussing ventures.

National Underwriter Life & Health-Financial Services Edition, August, 1996 by Bell, Allison

CIGNA Corp. and Korea Exchange Bank have agreed to discuss potential business alliances. The Korean government has eased restrictions on the securities and insurance activities of banks, and many banks are interested in developing partnerships. The Korean life insurance market is growing, and Koreans spent $45.2 billion in insurance premiums in 1994.

Cigna Corp. and Korea Exchange Bank are studying ways they can help each other do business.

The companies announced they have signed an agreement to consider each other's proposals, which could include joint ventures, agency agreements and exchanges of technical information.

"Essentially, what we have here is an agreement to discuss," said Cigna spokesman Paul Gallanda. "It's difficult to determine at this...