According to IMARC Group’s latest report, titled “GCC Bancassurance Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027.’ the GCC bancassurance market reached a value of US$ 3.25 Billion in 2021. Bancassurance refers to the agreement between a bank and insurance firm to allow the sale of financial products and insurance services through banking institutions. In this agreement, banks encourage their customers to buy insurance policies, which benefits both the bank and the insurance company, thereby lowering the overall costs involved. This setup allows the sale of v…

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