DUBLIN, Feb. 22, 2021 /PRNewswire/ — The “Bancassurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026” report has been added to ResearchAndMarkets.com’s offering.
The global bancassurance market reached a value of US$ 1191 Billion in 2020. 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. Looking forward, the publisher expects the global bancassurance…
