List of Top 17 Bancassurance Companies Worldwide

Bancassurance represents a financial agreement between a bank and an insurance company, where the bank earns a profitable sum of money and additional revenue by selling the policies of the insurance firm. It usually includes various insurance plans and procedures, such as unit-linked insurance plans (ULIPs), marine, health, endowment, property, etc. In line with this, bancassurance assists in expanding the product portfolio of banks, offers a high return on equity, stimulates turnover without any capital outlay, etc. It also aids insurance companies in increasing their sales and profits by expanding the market reach and consumer base. Consequently, bancassurance is gaining extensive traction across the globe.

The inflating need for retirement policy plans and health insurance and life insurance policies, on account of the expanding geriatric population, is primarily driving the bancassurance market. Additionally, the growing instances of natural disasters resulting in massive material and human losses are further catalyzing the market growth. Besides this, several leading bancassurance companies and banks are focusing on investing in strategic partnership projects and revising their existing policies to obtain access to advanced technologies and resources to sustain the increasing market competition, which is acting as another significant growth-inducing factor.

Moreover, the expanding banking, financial services, and insurance (BFSI) industry and the rising penetration of high-speed internet connections are positively influencing the global market. Apart from this, continuous improvements in digital strategies are also bolstering the market growth. Furthermore, the introduction of mobile-based banking services is expected to fuel the bancassurance market over the forecasted period.

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List of Top Bancassurance Companies Worldwide:

1. ABN AMRO Bank N.V.

2. Australia and New Zealand Banking Group Limited

3. Banco Bradesco SA

4. The American Express Company

5. Santander Bank, N.A.

6. BNP Paribas

7. ING Bank N.V.

8. The Wells Fargo Group

9. Barclays PLC

10. Intesa Sanpaolo S.p.A.

11. Lloyds Banking Group

12. Citigroup Inc.

13. CREDIT AGRICOLE S.A.

14. HSBC Holdings plc

15. NongHyup Financial Group

16. Société Générale S.A.

17. Nordea Group

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