• Phone: +1-631-791-1145
  • Email: sales@imarcgroup.com

Bancassurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024

The global bancassurance market size reached around US$ 1,166 Billion in 2018. The market is further projected to reach a value of US$ 1,665 Billion by 2024, growing at a CAGR of 6.1% during 2019-2024. Bancassurance refers to an arrangement between a bank and an insurance firm, wherein the bank can earn additional revenue by selling the products of the insurance company. It also helps to expand the financial product portfolio of banks, thereby increasing their turnover with little or no capital outlay which further gives a high return on equity. Since banks have become the main distribution channels for insurance products, bancassurance also benefits the insurance firms as it increases their market reach and expands their consumer base. As this arrangement can be profitable for both companies, it is gaining popularity across the globe.

Global Bancassurance Market Report

Global Bancassurance Market Drivers:

  • According to a report by the World Health Organization, the proportion of the world's population over 60 years will nearly double from 12% to 22% between 2015 to 2050. As the aging population has a greater need for health and life insurance as well as retirement product plans, this global demographic shift will positively impact the bancassurance industry.
  • Increasing economic growth in developing economies is further contributing to the growth of the market. For instance, the MetLife India Insurance Company in India entered into a strategic partnership with Punjab National Bank in 2011. MetLife got access to over 78 million bank customers in India, whereas Punjab National Bank acquired 30% stakes in the company.
  • Bancassurance is becoming an important factor for the overall growth of financial services due to consolidation in the sector. With rising internet penetration and technological advancements influencing consumer behaviors and their purchasing patterns, the market is expected to witness a continuous rise in its valuation.


Breakup by Product Type:

  • Life Bancassurance
  • Non-Life Bancassurance


Currently, life bancassurance dominates the market, accounting for the biggest share. Rising awareness about insurance services and the implementation of strict guidelines related to wealth management products is majorly stimulating the demand for life bancassurance services.

Breakup by Model Type:

  • Pure Distributor
  • Exclusive Partnership
  • Financial Holding
  • Joint Venture


Pure distributor represents the most popular bancassurance model, holding the majority of the total market share. Pure distribution offers added sales opportunities to both banks and insurance firms with minimum investment.  

Regional Insights:

  • Asia Pacific
  • Europe
  • Latin America
  • North America
  • Middle East and Africa


On a geographical front, Europe enjoys the leading position in the market due to a favorable tax structure. Countries like France, Italy, Portugal and Austria are the major contributors to the industry growth, whereas Luxembourg, Russia and Slovenia serve as potential markets for bancassurance in Europe.  

Competitive Landscape:

On examining the competitive landscape of the market, it has been found that it is highly fragmented with a number of small and large players. Some of the major players operating in the market include:

  • ABN AMRO Bank N.V.
  • The Australia and New Zealand Banking Group Limited
  • Banco Bradesco SA
  • The American Express Company
  • Banco Santander, S.A.
  • BNP Paribas S.A.
  • The ING Group
  • Wells Fargo & Company
  • Barclays plc
  • Intesa Sanpaolo S.p.A.
  • Lloyds Banking Group plc
  • Citigroup Inc.
  • Crédit Agricole Group
  • HSBC Holdings plc
  • NongHyup Financial Group
  • Société Générale S.A.
  • Nordea Group


Key Questions Answered in This Report:

  • How has the global bancassurance market performed so far and how will it perform in the coming years?
  • What are the key regions in the global bancassurance market?
  • Which are the popular product types in the global bancassurance market?
  • What are the key business model types in the global bancassurance market?
  • What are the various stages in the value chain of the global bancassurance industry?
  • What are the key driving factors and challenges in the global bancassurance industry?
  • What is the structure of the global bancassurance industry and who are the key players?
  • What is the degree of competition in the global bancassurance industry?

1   Preface
2   Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   Global Bancassurance Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Market Breakup by Product
    5.4    Market Breakup by Bancassurance Models
    5.5    Market Breakup by Region
    5.6    Market Forecast
    5.7    SWOT Analysis
        5.7.1    Overview
        5.7.2    Strengths
        5.7.3    Weaknesses
        5.7.4    Opportunities
        5.7.5    Threats
    5.8    Value Chain Analysis
        5.8.1    Overview
        5.8.2    Product Development
        5.8.3    Marketing and Promotion
        5.8.4    Lead Generation and Sales
        5.8.5    New Business Processing
        5.8.6    Servicing, CRM and Repeat Sales
    5.9    Porters Five Forces Analysis
        5.9.1    Overview
        5.9.2    Bargaining Power of Buyers
        5.9.3    Bargaining Power of Suppliers
        5.9.4    Degree of Competition
        5.9.5    Threat of New Entrants
        5.9.6    Threat of Substitutes
6   Market Breakup by Product
    6.1    Life Bancassurance
        6.1.1    Market Trends
        6.1.2    Market Forecast
    6.2    Non-Life Bancassurance
        6.2.1    Market Trends
        6.2.2    Market Forecast
7   Market Breakup by Bancassurance Models
    7.1    Pure Distributor
        7.1.1    Market Trends
        7.1.2    Market Forecast
    7.2    Exclusive Partnership
        7.2.1    Market Trends
        7.2.2    Market Forecast
    7.3    Financial Holding
        7.3.1    Market Trends
        7.3.2    Market Forecast
    7.4    Joint Venture
        7.4.1    Market Trends
        7.4.2    Market Forecast
8   Market Breakup by Region
    8.1    Asia Pacific
        8.1.1    Market Trends
        8.1.2    Market Forecast
    8.2    Europe
        8.2.1    Market Trends
        8.2.2    Market Forecast
    8.3    Latin America
        8.3.1    Market Trends
        8.3.2    Market Forecast
    8.4    North America
        8.4.1    Market Trends
        8.4.2    Market Forecast
    8.5    Middle East and Africa
        8.5.1    Market Trends
        8.5.2    Market Forecast
9   Competitive Landscape
    9.1    Market Structure
    9.2    Key Players
    9.3    Profiles of Key Players
        9.3.1    ABN AMRO Bank N.V.
        9.3.2    The Australia and New Zealand Banking Group Limited
        9.3.3    Banco Bradesco SA
        9.3.4    The American Express Company
        9.3.5    Banco Santander, S.A.
        9.3.6    BNP Paribas S.A.
        9.3.7    The ING Group
        9.3.8    Wells Fargo & Company
        9.3.9    Barclays plc
        9.3.10    Intesa Sanpaolo S.p.A.
        9.3.11    Lloyds Banking Group plc
        9.3.12    Citigroup Inc.
        9.3.13    Crédit Agricole Group
        9.3.14   HSBC Holdings plc
        9.3.15    NongHyup Financial Group
        9.3.16    Société Générale S.A.
        9.3.17    Nordea Group


List of Figures

Figure 1: Global: Bancassurance Market: Major Drivers and Challenges
Figure 2: Global: Bancassurance Market: Sales Value (in Billion US$), 2011-2018
Figure 3: Global: Bancassurance Market: Breakup by Product (in %), 2018
Figure 4: Global: Bancassurance Market: Breakup by Bancassurance Models (in %), 2018
Figure 5: Global: Bancassurance Market: Breakup by Region (in %), 2018
Figure 6: Global: Bancassurance Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 7: Global: Bancassurance Industry: SWOT Analysis
Figure 8: Global: Bancassurance Industry: Value Chain Analysis
Figure 9: Global: Bancassurance Industry: Porter’s Five Forces Analysis
Figure 10: Global: Bancassurance Market (Life Bancassurance): Sales Value (in Million US$), 2011 & 2018
Figure 11: Global: Bancassurance Market Forecast (Life Bancassurance): Sales Value (in Million US$), 2019-2024
Figure 12: Global: Bancassurance Market (Non-Life Bancassurance): Sales Value (in Million US$), 2011 & 2018
Figure 13: Global: Bancassurance Market Forecast (Non-Life Bancassurance): Sales Value (in Million US$), 2019-2024
Figure 14: Global: Bancassurance Market (Pure Distributor): Sales Value (in Million US$), 2011 & 2018
Figure 15: Global: Bancassurance Market Forecast (Pure Distributor): Sales Value (in Million US$), 2019-2024
Figure 16: Global: Bancassurance Market (Exclusive Partnership): Sales Value (in Million US$), 2011 & 2018
Figure 17: Global: Bancassurance Market Forecast (Exclusive Partnership): Sales Value (in Million US$), 2019-2024
Figure 18: Global: Bancassurance Market (Financial Holding): Sales Value (in Million US$), 2011 & 2018
Figure 19: Global: Bancassurance Market Forecast (Financial Holding): Sales Value (in Million US$), 2019-2024
Figure 20: Global: Bancassurance Market (Joint Venture): Sales Value (in Million US$), 2011 & 2018
Figure 21: Global: Bancassurance Market Forecast (Joint Venture): Sales Value (in Million US$), 2019-2024
Figure 22: Asia Pacific: Bancassurance Market: Sales Value (in Million US$), 2011 & 2018
Figure 23: Asia Pacific: Bancassurance Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 24: Europe: Bancassurance Market: Sales Value (in Million US$), 2011 & 2018
Figure 25: Europe: Bancassurance Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 26: Latin America: Bancassurance Market: Sales Value (in Million US$), 2011 & 2018
Figure 27: Latin America: Bancassurance Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 28: North America: Bancassurance Market: Sales Value (in Million US$), 2011 & 2018
Figure 29: North America: Bancassurance Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 30: Middle East and Africa: Bancassurance Market: Sales Value (in Million US$), 2011 & 2018
Figure 31: Middle East and Africa: Bancassurance Market Forecast: Sales Value (in Million US$), 2019-2024


List of Tables

Table 1: Global: Bancassurance Market: Key Industry Highlights, 2018 and 2024
Table 2: Global: Bancassurance Market Forecast: Breakup by Product (in Million US$), 2019-2024
Table 3: Global: Bancassurance Market Forecast: Breakup by Bancassurance Models (in Million US$), 2019-2024
Table 4: Global: Bancassurance Market Forecast: Breakup by Region (in Million US$), 2019-2024
Table 5: Global: Bancassurance Market: Competitive Structure
Table 6: Global: Bancassurance Market: Key Players

Note: We value your privacy and will never rent or sell your email address. Privacy policy

Purchase Options




$ 1999

REACH OUT TO US

Call us on

( US: +1-631-791-1145 )
( UK: +44-702-409-7331 )
( India: +91-120-433-0800 )


Drop us an email at

sales@imarcgroup.com

Social Links