bancassurance

/ ˈbæŋkəˌʃʊərəns /

noun

1. the selling of insurance products by a bank to its customers

Word History and Origins

Origin of bancassurance¹

from French banc bank + assurance assurance

Example Sentences

Under the bancassurance deal, Sun Life will exclusively provide life insurance services to Dah Sing Bank's 570,000 retail banking customers.

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Credit Agricole on Friday struck a long-term bancassurance partnership with Italy's Banco BPM , strengthening ties with the country's number three lender, in which it is already the top investor.

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Unlike Anima, Axa won't alter its 'bancassurance' joint-venture with MPS, but simply buy portfolios of insurance contracts, allowing MPS to anticipate future revenues, the people said.

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Net interest income fell 22% from the second quarter to 319 million euros as the bank offloaded more bad loans but net fee and commission income rose 1% to 102 million on the back of its asset management, investment banking, funds transfer, bancassurance and cards businesses.

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“The focus Banco BPM puts on its ‘product companies’ and especially those in ‘bancassurance’ we believe may contribute to improve the value of the group in an M&A scenario”, Bestinver analyst Fabrizio Bernardi said.

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