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Top 8 Companies Dominating the Global Bancassurance Market

top bancassurance companies


Zurich Insurance Company Ltd, ABN AMRO Bank N.V., The ING Group, Barclays, Wells Fargo, Lloyds Bank plc, Crédit Agricole Group, HSBC Bank, among others, are the major players in the global bancassurance market. 


The global bancassurance market is projected to grow at a steady CAGR of 6% over the forecast period between the years of 2022 and 2027. As per the analysis by Expert Market Research, the market is expected to be driven by the growing population worldwide and the increasing health and safety consciousness among the people. 


Increasing population is a worldwide concern, however, the rise in the population, especially of the older aged people, positively impacts the growth of the bancassurance market. Additionally, growing health concerns and safety with the rise in the different banking services and increasing customer base supports the market growth. 


On 11 December 2020, Zurich subsidiary Farmers Group, Inc. and Farmers Exchanges1 agree to acquire the United States’ property and casualty business of MetLife for approximately USD 3.94 billion. With the acquisition, Farmers Exchanges1 gained a strong presence across the country, along with new distribution channels for its portfolio to supplement its growth. 


On 07 January 2020, ING expanded its network in Amsterdam with the opening of a new corporate office in the central region of Cumulus Park, a new innovation district situated in Amsterdam’s southeast area. The new office, named Cedar, is among the total of five buildings of ING that collectively form the space of Cumulus Park. Apart from the workspace for ING staff, approximately 20% of surrounding buildings are reserved innovative collaboration with external parties. 


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Top 8 Bancassurance Companies in the World: 

Zurich Insurance Company Ltd 

Headquarters: Zurich, Switzerland
Establishment: 1872


A top multi-insurer, Zurich caters to customers across markets located globally and locally. The current workforce employs over 56,000 people, and offers services and products across over 215 territories and countries. Amongst its wide portfolio are a variety of life insurance products as well as property and casualty insurance. The clientele of Zurich includes individuals along with businesses of all sizes, and even multinational corporations.  



Headquarters: Amsterdam, Netherlands
Establishment: 1991


ABN AMRO is counted as amongst the leading banks based out of the Netherlands. With a primary focus on Northwest Europe, it caters to companies and individuals, providing loans, mortgages and other banking solutions. The ABN AMRO business bank caters to companies and institutions with turnovers between EUR 1 million and EUR 250 million. 


The ING Group 

Headquarters: Amsterdam, Netherlands
Establishment: 1991


A Dutch multinational corporation, the ING Group provides banking and financial services. The core offerings of the bank are commercial banking, private banking retail banking, investment banking, direct banking, and wholesale banking. It also offers specialised insurance and asset management services. Regularly ranking high as among the top largest banks worldwide, it has over 57,000 employees who serve more than 38 million customers. Their clientele including corporate customers and various financial institutions located across more than 40 countries. 



Headquarters: London, United Kingdom
Establishment: 1690


Barclay’s plc is a British multinational universal bank with two separate divisions managed by the host brand Barclays Execution Services. The components are Barclays International and Barclays UK. A long-running bank, Barclays deployed the world’s first cash dispenser. Over the years, Barclays acquired multiple smaller companies, expanding its reach and portfolio. Key Barclays hubs are located in the United Kingdom, Ireland, the United States, India & Singapore. 


Wells Fargo

Headquarters: San Francisco, California, United States
Establishment: 1852


Wells Fargo & Company is financial services company, based out of the United States but with a reach worldwide, offering services for banking, mortgage, and investments. The firm’s primary subsidiary is the Wells Fargo Bank, N.A. The current Wells Fargo was formulated in 1998 after the successful merger between Wells Fargo & Company, located in California, and the Norwest Corporation in Minneapolis. In 2021, there were nearly 249,440 employees across its various branches. It’s assets are estimated to be in the range of USD 1.92 trillion.


Lloyds Bank plc

Headquarters: London, United Kingdom
Establishment: 1765


A British retail as well as commercial bank, Lloyds Bank is one of the ‘Big Four’ in the United Kingdom, Lloyds Bank is considered to be the largest retail bank in Britain. It has an sizably vast network of branches throughout England and Wales, including ATMs. It offers services for current accounts, savings accounts, credit cards, ISA, home insurance and investing. 


Crédit Agricole Group 

Headquarters: Montrouge, France
Establishment: 1894 


According to turnover, Crédit Agricole Group is regarded as the largest cooperative financial institution in the world, with a USD 115 billion turnover in 2021. It comprises of an extensive network of local banks, supplement by regional banks, and a centralised institute. In 1990, it became an international full-service banking group.  



Headquarters: London, United Kingdom
Establishment: 1865


HSBC Bank was first founded in Hong Kong in 1865 during British rule with a goal of supporting the financing trade between countries in Europe and those in Asia. It comprises of three distinct groups, specialising in Global Banking and Markets, Commercial Banking, and Wealth and Personal banking. A massive bank, it caters to over 40 million customers, including personal and corporate customers, across 63 territories and countries. It recorded an estimated adjusted revenue of USD 11.8 billion in 2021.


*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

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