Definition of bancassurance in English:

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bancassurance

Pronunciation: /ˈbaŋkəˌʃɔːrəns/
(also bankassurance)

noun

[mass noun] British
The selling of life assurance and other insurance products and services by banking institutions.
Example sentences
  • Some IFAs have questioned the logic of the move as they associate the Abbey name with bancassurance - selling savings products over the counter at bank branches.
  • There could also be a boost for bancassurance - selling life and pensions products through banks - which has been slow to take off in the UK.
  • The Life Insurance Corporation of India is shopping for strategic stakes in commercial banks to put bancassurance to better use.

Derivatives

bancassurer

noun
Example sentences
  • It also downgraded Allianz, the €30.6 billion German financial bancassurer which owns Dresdner Bank.
  • In his latest IL & P update, Murphy points out that the capital position of the bancassurer has improved because of the recovery in equity values, cost cutting, and asset disposals.
  • Irish Life director Kieran McGowan has a 21 per cent paper profit after buying 5,000 shares in the bancassurer at the start of July.

For editors and proofreaders

Line breaks: banc|assur¦ance

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