Nordea, one of Europe's top 10 universal banks by market capitalisation, has announced it is to renegotiate its current partnership agreement with Tryg, the largest general insurer in the Nordic region.

The two companies have operated their current agreement for over a decade. It allows Tryg's non-life insurance products to be offered by Nordea in Finland, Sweden, Norway and Denmark. In return, Tryg offers Nordea's life and pension products in Denmark and Norway.

The existing agreement runs until mid-2013, and it is not envisaged to be cut short before then.

Tryg, headquartered in Denmark, insures some 2.7 million individuals, and 140,000 businesess in the region.

Nordea counts some 11 million banking customers, served through about 1,400  branch offices.