Introduction

Abstract

Bancassurance is one of the most important forms of business collaboration in the European financial services industry. Initially, the development of bancassurance was the result of the disintermediation process and the relaxation of regulatory barriers to financial conglomeration. Over the last decade, the cooperation between banks and insurance companies has increased continuously from the initial cross-selling agreements to strategic alliances and ownership links: this process was driven by the increasing investor demand for long-term savings products, growth in life expectancy and the crisis of social security systems.