Bancassurance Market Size, Trends, Growth, Global Analysis, Industry Report 2027 | Valuates Reports

The global Bancassurance market size is projected to reach US$ 2291.7 million by 2027, from US$ 2008.8 million in 2020, at a Compound Annual Growth Rate (CAGR) of 1.9% during 2021-2027. The increase in the aging population is expected to drive the growth of the bancassurance market size. This global demographic change would have a positive effect on the bancassurance market as the aging population has a greater need for health and life insurance and retirement product plans.

Bancassurance is a relationship between a bank and an insurance company that is aimed at offering insurance products or insurance benefits to the bank's customers.

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Bancassurance provides clients with several advantages, one of which is comfort. For all financial needs, the bank acts as a one-stop solution. Bancassurance increases the bank's and insurance firms' revenue diversification and brings greater volume and benefit for both players. This feature is expected to increase the growth of the bancassurance market size.

Increasing economic growth in developing countries, along with rising internet penetration and technological advancements, are expected to further fuel the growth of the bancassurance market size.

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Bancassurance Market by Type
➣Life Bancassurance
➣Non-Life Bancassurance
Life bancassurance is the most widely used type which takes up about 59% of the global total revenue.

Bancassurance Market by Application
➣Adults
➣Kids
➣Other
Adults was the most widely used which took up about 44% of the global total in 2018.

Bancassurance Market by Regional and Country-level Analysis

The Europe market took up about 39% of the global market in 2018, while North America and China were about 25%, 13%.

Major Key Players in the Market
➣ABN AMRO
➣ANZ
➣Banco Bradesco
➣American Express
➣Banco Santander
➣BNP Paribas
➣ING Group
➣Wells Fargo
➣Barclays
➣Intesa Sanpaolo
➣Lloyds Banking Group
➣Citigroup
➣HSBC
➣NongHyup Financial Group
➣Nordea Bank

“We can also add the other companies as you want”

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