Bancassurance Market Analysis, Size, Share, Growth, Trends, and Forecasts by 2031
Global bancassurance market was valued at $ 1,221.0 billion in 2022 and is likely to reach $ 2,331.5 billion by 2032, registering a CAGR of 6.1% over the forecast period of 2023-2032. Bancassurance, a strategic alliance between banks and insurance companies, has emerged as a significant distribution channel for insurance products worldwide. This symbiotic relationship allows insurance companies to leverage the extensive customer base and distribution networks of banks, while banks can diversify their revenue streams and enhance customer loyalty by offering a wider range of financial solutions.