The Bahrain Association of Banks (BAB) and The Bahrain Insurance Association (BIA) will be jointly organising a seminar on “Profiting from Bancassurance” on Tuesday at the Gulf Hotel in Manama.

Bancassurance is the sale of insurance and banking products through the same channel, most commonly through bank branches selling insurance.

"The current low penetration of insurance coupled with a high per capita income gives banks and insurance companies in the Gulf an unusually strong platform to launch and grow the industry into the future," remarked BAB chief executive Robert Ainey.

Economic strides in countries like the UAE, Qatar and Bahrain are working as a catalyst and pushing the insurance industry to new horizons, he stated.

The event will see speakers from both banking and insurance sectors discussing the sale of insurance and banking products through the same channel, most commonly through bank branches selling insurance to their extensive, captive customer base, said the organisers.

“Profiting from Bancassurance will take a look at the great market opportunities for bancassurance products in the region and how both banks, insurance companies and their potential customers can benefit from this market collaboration,” Ainey added.-TradeArabia News Service