noun[mass noun] British
The selling of life assurance and other insurance products and services by banking institutions.
- 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.
- 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.
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