Bancassurance means selling insurance
product through banks. Banks and
insurance company come up in a
partnership wherein the bank sells the tied
insurance company's insurance products
to its clients.
• Originated In France
• In India after Deregulation
• Insurance to each and every person
• Available at most basic financial point
IRDA to release final guidelines on
bancassurance next month
Canara Bank targets Rs 100 cr income
Joint venture between the State Bank of India and BNP
Paribas Assurance registered with IRDA on 30.03.2001.
State Bank of India --- 74%
BNP Paribas Assurance --- 26%.
Largest banking franchise in India along with its 7 Associate
Banks, with a strength of over 14,500 branches across the
country, arguably the largest in the world.
BNP Paribas Assurance is the life and property & casualty
Net Profit – Rs 622 crores for FY 2011-12.
Revenue – Rs 10382 crores.
Number One among private life insurer.
CEO – Atanu Sen.
23% - Rural segment.
CRISIL, ICRA –AAA.
Insurance Company Bank
Life Insurance Corporation of India
Corporation Bank, Indian Overseas
Bank, Centurion Bank, Vijaya Bank,
Oriental Bank of Commerce etc
National Insurance Co. Ltd. City Union Bank
United India Insurance Co. Ltd South Indian Bank
Bajaj Allianz General Insurance Co.
Karur Vysya Bank
ICICI Prudential Life Insurance Co Ltd. ICICI Bank, Bank of India, Citibank,
Federal Bank, and Punjab and
Maharashtra Co-operative Bank.
HDFC Standard Life Union Bank of India