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SHERIDAN, WYOMING, UNITED STATES, August 19, 2022 /EINPresswire.com/ -- The latest report by IMARC Group, titled "GCC Bancassurance Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027.' Offers a comprehensive analysis of the industry, which comprises insights on Bancassurance Market in GCC 

The GCC bancassurance market reached a value of US$ 3.25 Billion in 2021. Looking forward, IMARC Group expects the market to grow at a CAGR of around 5.50% during the forecast period 2022-2027. Bancassurance is an association between the bank and insurance companies that allows the insurance company to sell its products and services to the bank's clientele. The partnership arrangement helps both companies to earn additional revenue and expand their customer base without increasing the sales force. Thus, bancassurance is witnessing extensive application across the banking, financing, servicing, and insurance (BFSI) sector to enhance product portfolio, reach, and turnover. Currently, it is differentiated into two approaches, namely, integrated and non-integrated. Amongst these, the integrated model is affiliated with the bank, whereas the non-integrated is joined with the official financial service.  

Download a free sample report to get a detailed overview of the report: https://www.imarcgroup.com/gcc-bancassurance-market/requestsample

Bancassurance is a cost-effective and convenient arrangement and is a one-stop solution for numerous financial requirements, which is one of the primary factors bolstering the market growth in GCC. Additionally, the rising awareness about bancassurance services and the rapidly expanding BFSI sector in the region are providing a considerable boost to the market growth. In line with this, the governments in the region are actively working to provide a regulatory framework for bancassurance activities, which is creating a positive outlook for the market. Apart from this, frequent strategic collaborations and partnerships among key players, rapid digitization, and improving socio-economic conditions are other factors accelerating the market growth.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.’

Base Year of the Analysis 2020 Historical Period 2016-2021 Forecast Period 2022-2027 Units US$ Million Segment Coverage Product Type, Model Type, Country

Pure Distributor Exclusive Partnership Financial Holding Joint Venture 

Saudi Arabia UAE Qatar Oman Kuwait Bahrain

Ask Analyst for 10% free customized report: https://www.imarcgroup.com/gcc-bancassurance-market

Note: We are updating our reports, If you want the report with the latest primary and secondary data (2022-2027) including industry trends, market size and Competitive landscape, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours.

Key highlights of the report:                                                           

Market Performance (2016-2021) Market Outlook (2022-2027) Market Trends Market Drivers and Success Factors Impact of COVID-19 Value Chain Analysis Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Elena Anderson IMARC Group 16317911145 email us here

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