bancassurance
Noun
Meaning
bancassurance (uncountable)
(insurance) A banking and insurance structure in which insurance is sold through the bank or the bank's distribution channels.
Related terms
Examples
Prudential Plc, the UK insurer besieged by activist investor Third Point, has agreed to acquire a bancassurance partnership in Thailand from FWD Group Ltd. in a 24.5 billion baht ($753 million) deal.
Kachingwe said bancassurance requires the presence of a conducive regulatory environment to flourish.
Besides, important changes to the business model relating to bancassurance early this year contributed to an 62% increase in insurance income.
Currently, we are in a good spot, where we have a scope to be able to increase the percentage of business from bancassurance and from direct, which would then mean that we would have more balanced distribution going forward.