Chase Manhattan Bank is expanding its money management operations by supplying investment management services to insurance companies. The New York bank will provide investment, actuarial, and accounting services through a joint venture with Centre Reinsurance Cos., a reinsurance firm based in Bermuda. Reinsurers like Centre Re help insurance companies reduce risk by assuming responsibility for some of their policies.

The joint marketing company, dubbed Centre Chase Investment Advisors, will be based in New York and owned equally by Chase and Centre Re, executives for the two companies said.

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