Bancassurance

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Bancassurance

Insurance provided by a bank. For example, a bank could offer life insurance in addition to its savings, loan, and investment services. Proponents argue that bancassurance can streamline internal and government regulations. For example, a bank offering a mortgage may require borrowers to buy homeowners insurance; if bancassurance is available, the borrower could purchase a policy directly from the bank without needing to shop around. However, bancassurance is somewhat controversial; critics contend that allowing banks to sell insurance gives them too much control over the financial services sector. As a result, some countries prohibit it. The United States has allowed it since the passage of the Gramm-Leach-Bliley Act.
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agreed to acquire the deposits, mortgages and business assets of Dutch bancassurer Groep N.
Summary: DUBLIN - Bancassurer Irish Life & Permanent (IL&P) reported a tenfold jump in pretax losses in the first half on the back of rising impairments and investment losses, but said it was confident its banking unit had a profitable future.
Dutch bancassurer ING Group NV will split in two, shrinking itself into a smaller Europe-focused bank, in the most striking example yet of the deep changes the EU wants to force on banks that received state aid.
European shares were higher in early trade on Monday, with banks and oils taking the lead and outweighing a fall in Dutch bancassurer ING.
The bancassurer was rescued via a capital injection of EUR 6.
The bank is dismantling the bancassurer model as it divests from insurance and investment management and prepares to repay the loans taken as bailout aid after the crisis.
6m) for the stake in the non-life bancassurer, Fortis said on Thursday.
Analysts have suggested Dutch bancassurer ING and Belgian/Dutch group Fortis as eligible partners.
ING is prepared to sell it, even if it means breaking up its famous bancassurer business model.
AMSTERDAM: Dutch bancassurer ING Group NV on Monday said it would split itself in two, pay back 50 percent of its aid from the Dutch state early and launch a 7.
With SAS, the bancassurer, which focuses on home markets in Belgium and Central and Eastern Europe, can obtain a consistent and quick view of overall risk exposures across risk types, departments and geographies.
The move comes after other leading Europeans banks, including UK's Lloyds Banking Group Plc (LSE: LLOY) (NYSE: LYG), Dutch bancassurer SNS Reaal NV (SR.