Bank of Cyprus seeking strategic insurance partner

Bank of Cyprus Plc, the country?s biggest lender, confirmed it is in talks to find a strategic partner for its insurance units as part of capital strengthening efforts, according to an e-mailed statement from the Nicosia-based lender on Tuesday.

Earlier in the day Cypriot state broadcaster RIK had reported Bank of Cyprus was in talks to find a partner for its EuroLife and General Insurance units, without saying where it got the information.