Global Bancassurance Industry

Global Bancassurance Industry

  • September 2020 •
  • 184 pages •
  • Report ID: 5956063 •
  • Format: PDF
Global Bancassurance Market to Reach $1.5 Trillion by 2027

Amid the COVID-19 crisis, the global market for Bancassurance estimated at US$1.1 Trillion in the year 2020, is projected to reach a revised size of US$1.5 Trillion by 2027, growing at aCAGR of 4.6% over the period 2020-2027. Life Bancassurance, one of the segments analyzed in the report, is projected to record 4.2% CAGR and reach US$1.2 Trillion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Non-Life Bancassurance segment is readjusted to a revised 5.7% CAGR for the next 7-year period.

The U.S. Market is Estimated at $306.5 Billion, While China is Forecast to Grow at 7% CAGR

The Bancassurance market in the U.S. is estimated at US$306.5 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$311.6 Billion by the year 2027 trailing a CAGR of 7% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.5% and 4.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.8% CAGR.We bring years of research experience to this 7th edition of our report. The 184-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Competitors identified in this market include, among others,
  • ABN Amro Bank N.V.
  • American Express Company
  • Australia and New Zealand Banking Group Ltd. (ANZ)
  • Banco Bradesco SA
  • Banco Santander SA
  • Barclays plc.
  • BNP Paribas SA
  • Citi Group, Inc.
  • Credit Agricole Group
  • Credit Mutuel
  • HSBC Holdings Plc
  • Intesa Sanpaolo S.p.A.
  • Lloyds Bank plc
  • NongHyup Financial Group
  • Nordea Bank AB
  • Societe Generale SA
  • Wells Fargo & Company