Under the terms of the agreement, which will see both companies join as associate members, the providers will gain access to the over 200 advisers already part of the federation and will develop products suitable for the various jurisdictions in which the advisers operate.
While FEIFA has already ready partnered with one company offering structured products, FEIFA CEO Paul Stanfield said Gilliat’s offering complements the products already available from provider IDAD.
Stanfield said he was also very pleased to have Prudential International on board, the fourth offshore life company to have joined under its partnership programme the others being Friends Provident International, Hansard Europe and Generali PanEurope.
“FEIFA is very keen to build its relationships with offshore life companies, particularly where they are looking to develop their European operations – as is very much the case in this instance,” added Stanfield.
“The European single market has bizarrely led to less product choice in many countries and our members and their clients are in need of greater options in most instances. On the back of such partnerships we can assist providers like Prudential to assess both market potential and needs – and then help develop products or strategies for various European jurisdictions, thus benefiting our members and their clients.”
