Bancassurance: an insurance concept from a Irish perspective

Richard Brophy (Brophy & Co Insurances Ltd, Dublin, Ireland)

Journal of Financial Regulation and Compliance

ISSN: 1358-1988

Publication date: 11 November 2013



The purpose of this paper is to chart the development of bancassurance as a method of selling insurance and how it fits within the regulatory environment in Ireland.


General review of the leading financial institutions retailing insurance in Ireland and their respective processes in retail distribution.


Unlike in Europe where bancassurance involves the bank creating insurance products, in Ireland many banks engage insurers to create product to be sold via banking network, call centre or online. Whitelabeling insurance products allow the bank and insurer to enter or exit the market. In developing a bancassurance product, fundamentals need to be in place for success. The regulatory environment also does not favour banks creating insurance products; hence, this method is suited to the Irish market based on market size and existing distribution channels.

Research limitations/implications

Based on a general review of the market, past and present, it does not take into account future developments of the banking sector which is subject to change post the EU banking crisis.

Practical implications

The paper establishes the current trend of banks entering the insurance market in Ireland.


Based on observation, general literature review and the current regulatory requirements to retail insurance in Ireland, the paper offers a perspective of market entry for a bank to sell insurance.



Brophy, R. (2013), "Bancassurance: an insurance concept from a Irish perspective", Journal of Financial Regulation and Compliance, Vol. 21 No. 4, pp. 319-333.

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