BANCASSURANCE

RECENT NEWS
The Hindu Business Line  Nov 6  Comment 
Want to break into the top-12 in industry ranking in 3 years, says CEO Mittal
The Hindu Business Line  Aug 24  Comment 
Kerala-based lender anticipates annual incremental income of ₹20-30 crore
The Economic Times  Mar 1  Comment 
Bancassurance tie-up forms an important part of RGI's growth strategy and the company has been forging strong alliances with various banks to enhance its distribution.
The Economic Times  Jan 30  Comment 
Currently bancassurance accounts for 5 per cent of Future Generali's total business. It has tie-up with over 100 banks across the country.
Insurance Journal  Jun 20  Comment 
Among all financial products, bancassurance perhaps comes closest to fitting Einstein’s theory of insanity: Insurers have been conducting the same sorry experiment again and again, expecting different results. Right now, it’s Asia’s turn to...
The Economic Times  Jun 1  Comment 
In absolute terms, premium collection by selling insurance policy through bank branches would go up Rs 300 crore, Reliance General CEO Rakesh Jain said.
The Hindu Business Line  May 4  Comment 
There will be no conflict of interest with bank-promoted insurance ventures: experts
The Hindu Business Line  May 3  Comment 
Future Generali India Life Insurance (FGILI) and Saraswat Bank today entered into a bancassurance partnership. Munish Sharda, Managing Director & CEO, FGILI, and S.K. Banerji, Managin...
Reuters  Apr 8  Comment 
Aviva said its attempts to extend its bancassurance agreement with Singapore's DBS Bank Ltd were hamstrung by high renewal costs that were neither "economically viable or...




 

Bancassurnce is a French term referring to the selling of insurance through a bank's established distribution channels.

The result is a bank that can offer banking, insurance, lending, and investment products to a customer.

Bancassurance is the provision of insurance (assurance) products by a bank. The usage of the word picked up as banks and insurance companies merged and banks sought to provide insurance, especially in markets that have been liberalised recently. It is a controversial idea, and many feel it gives banks too great a control over the financial industry.

In some countries, bancassurance is still largely prohibited, but it was recently legalized in countries such as the United States, when the Glass-Steagall Act was repealed after the passage of the Gramm-Leach-Bliley Act.

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