Bancassurance to help pvt insurers log 40% growth

After emerging as a key alternate channel, bancassurance, by which banks sell insurance products by a special tie-up, is expected to generate 40% of private insurer s premium income by 2012. This is significantly higher than the present level of around 25%. According to the Towers Watson India Bancassurance Benchmarking survey 2009-10 released on Wednesday, cooperative banks, as a segment within the banking sector, top the distribution tie-ups for the insurance companies at 79%, followed by private sector banks at 71%, NBFCs at 50%, public sector banks at 43%, regional rural banks and foreign banks each at 29%. Steve Thwaite, director, ...

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