Finaccord presentation global bancassurance strategies vienna october 2013
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Finaccord presentation global bancassurance strategies vienna october 2013

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Presentation at the 8th Annual Bancassurance Conference in Vienna, 3rd of October 2013 ...

Presentation at the 8th Annual Bancassurance Conference in Vienna, 3rd of October 2013

Key factors that shape bancassurance strategies
 The meta level: strategies used by the world's 125 largest retail banking groups
 The country level: differences across global bancassurance markets
 Future outlook

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Finaccord presentation global bancassurance strategies vienna october 2013 Presentation Transcript

  • 1. Global Bancassurance Strategies © Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 1 Bancassurance Models Around the World Global Bancassurance Strategies Presentation at the 8th Annual Bancassurance Conference Vienna, October 3rd – 4th 2013
  • 2. Global Bancassurance Strategies © Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 2 Agenda  Key factors that shape bancassurance strategies  The meta level: strategies used by the world's 125 largest retail banking groups  The country level: differences across global bancassurance markets  Future outlook
  • 3. Global Bancassurance Strategies © Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 3 Key Factors that Shape Bancassurance Strategies Bancassurance Strategies 1. Meta level: Regulation Forced divestment 2. Country level: Regulation Market characteristics
  • 4. Global Bancassurance Strategies © Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 4 Key Factors that Shape Bancassurance Strategies 1. Meta level New regulation: New capital requirements under the Basel III Accords Forced divestment: Several banking groups have been forced to divest assets 2. Country level Regulation: Mediation laws, insurance shareholding of banks, product regulation Market characteristics: Maturity, insurance penetration
  • 5. Global Bancassurance Strategies © Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 5 Bancassurance Strategies on a Meta Level Segmentation of 125 retail banking groups between those with captive underwriters, those with joint venture underwriters and those with both captive and joint venture underwriters, 2013 Source: Finaccord Global Bancassurance reports Captive, 41.6% Captive and joint venture, 13.6% Joint venture, 10.4% None, 34.4%
  • 6. Global Bancassurance Strategies © Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 6 Bancassurance Strategies on a Meta Level: Captives and JVs Ranking of banking groups by value of premiums of captive and joint venture underwriters, 2012 Source: Finaccord Global Bancassurance reports Rank Group Premiums (USD billion) 1 Crédit Agricole 29.00 2 ING Group 26.07 3 BNP Paribas 25.47 4 Bradesco 21.13 5 Crédit Mutuel 15.17 6 Lloyds Banking Group 13.13 7 Société Générale 13.09 8 HSBC 13.04 9 NongHyup Bank 9.11 10 Intesa Sanpaolo 7.28 Total of above 172.49 Other retail banking groups in world's top 125 164.52 Grand total 337.01
  • 7. Global Bancassurance Strategies © Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 7 Bancassurance Strategies on a Meta Level: Divestments Examples: ING Group: Needs to divest its insurance subsidiaries as a requirement of the EC RBS Group: One condition of the bail-out has been the divestment of the Direct Line Group HSBC: In 2011, the group announced a large-scale retrenchment of insurance operations Santander: The group has shifted its strategy from using captive to joint venture underwriters
  • 8. Global Bancassurance Strategies © Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 8 Bancassurance Strategies on a Meta Level: Strategic Partnerships Segmentation of 125 retail banking groups between those with and those without one or more strategic insurance partners, 2013 Source: Finaccord Global Bancassurance reports One or more strategic insurance partners, 41.6% No strategic insurance partner, 58.4%
  • 9. Global Bancassurance Strategies © Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 9 Bancassurance Strategies on a Meta Level: Strategic Partnerships Unweighted provider share of strategic bancassurance partnerships, 2013 Source: Finaccord Global Bancassurance reports Aviva, 8.5% Allianz, 5.6% Prudential, 5.6% Zurich, 5.6% Ageas, 4.2% AXA, 4.2% CNP Assurances, 4.2% MAPFRE, 4.2% other, 57.7%
  • 10. Global Bancassurance Strategies © Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 0% 20% 40% 60% 80% 100% BR ES FR IT KR HK ID CN TH MX DE IN UK JP CL VN Minimum % % range trigger 10 Bancassurance Strategies on a Country Level Estimated distribution share of bancassurance in life insurance, 2012 Source: Finaccord Global Bancassurance reports
  • 11. Global Bancassurance Strategies © Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 11 Bancassurance Strategies on a Country Level 'The Southern Europe model' (operating models, life and non-life insurance, weighted), 2011/2012 Spain Italy Brazil Mexico 0% 20% 40% 60% 80% 100% External underwriter Multiple external underwriters Captive underwriter JV underwriter Other tricker Source: Finaccord Global Bancassurance reports
  • 12. Global Bancassurance Strategies © Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 12 Bancassurance Strategies on a Country Level 'The multiple underwriters model' (operating models, life and non-life insurance, weighted), 2012 China 0% 20% 40% 60% 80% 100% External underwriter Multiple external underwriters Captive underwriter JV underwriter Other tricker Japan South Korea Source: Finaccord Global Bancassurance reports
  • 13. Global Bancassurance Strategies © Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 13 Bancassurance Strategies on a Country Level Asia displays various market structures (operating models, life and non-life insurance, weighted), 2012 0% 20% 40% 60% 80% 100% External underwriter Multiple external underwriters Captive underwriter JV underwriter Other tricker Hong Kong India Indonesia Thailand Vietnam Source: Finaccord Global Bancassurance reports
  • 14. Global Bancassurance Strategies © Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 14 Captive, 13.3% Captive and joint venture, 13.3% Joint venture, 33.3% None, 40.0% Future Outlook on the Meta Level: Asia's Rise Segmentation of the 15 largest retail banking groups in China between those with a captive, those with a joint venture and those with both a captive and joint venture, 2013 Source: Finaccord Global Bancassurance reports Estimated total customer base: 1.3 billion
  • 15. Global Bancassurance Strategies © Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 15 Future Outlook on the Meta Level: Europe's Fall?  High growth countries: Latin American countries + Asian emerging countries  Low growth countries: Northern European countries + developed Asian countries + North America  Problematic countries: Southern European countries + UK  Opportunities: African / Middle Eastern countries
  • 16. Global Bancassurance Strategies © Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 16 Any questions? Sources and related Finaccord publications: Global Bancassurance: Strategies of the World's Top 125 Retail Banking Groups Creditor Insurance in Latin America Creditor Insurance in Northern, Central and Eastern Europe Creditor Insurance in Southern and Western Europe Life Bancassurance in the Asia-Pacific Region: Investment-Related Life Insurance and Retirement Savings Life Bancassurance in the Asia-Pacific Region: Protection-Related Life Insurance Life Bancassurance in Europe: Investment-Related Life Insurance and Retirement Savings Life Bancassurance in Europe: Protection-Related Life Insurance Life Bancassurance in Latin America: Protection-Related Life Insurance Non-Life Bancassurance in Europe: Accident and Health Insurance Non-Life Bancassurance in Europe: Motor and Household Insurance Bancassurance country reports (covering 30 different countries in the Asia-Pacific region, Europe and Latin America)