• Share
  • Email
  • Embed
  • Like
  • Save
  • Private Content
Report prospectus commercial_non-life_insurance_brokers_southern_western_europe
 

Report prospectus commercial_non-life_insurance_brokers_southern_western_europe

on

  • 575 views

Commercial Non-Life Insurance Brokers in Southern and Western Europe and the BrokerBASE™ that accompanies it investigate the importance of brokers in the distribution of non-life insurance for ...

Commercial Non-Life Insurance Brokers in Southern and Western Europe and the BrokerBASE™ that accompanies it investigate the importance of brokers in the distribution of non-life insurance for businesses in eight countries of this European region. Brokers are the most important single distribution channel for this industry in the region, and Finaccord’s research indicates that fees and commissions earned by brokers from commercial non-life insurance in Southern and Western Europe were worth about EUR 7.12 billion in 2011. Moreover, brokers are increasing their share of this market in some countries and are expected to maintain their overall share in future, in spite of the challenging economic circumstances.

This report first provides unique data for the size, segmentation and growth of the commercial non-life insurance market itself in Belgium, France, Ireland, Italy, the Netherlands, Spain and the UK. It then quantifies the share of this market that is intermediated by brokers and ranks the leading brokers in each country, with coverage of between 15 and 60 depending upon the country, according to their revenues from commercial non-life insurance, excluding income from other activities. This analysis is based on an investigation covering some 285 brokers across the region, making it by far the most detailed and comprehensive study of this market ever published and building upon Finaccord's original report on the subject published in 2009.

Key features of this research include:

- analysis of market size, growth, segmentation and trends for commercial non-life insurance premiums: how much is the underlying insurance market worth in this region?

- quantification and forecast of the share of commercial non-life insurance premiums distributed by brokers, the revenues they earn from commercial lines, and the importance of this sector to brokers;

- identification of the top 15 to 60 brokers in each country specifically for commercial non-life insurance business, with estimates for the revenue they generate from this sector alone and their total employee numbers;

- detailed information concerning the structure of the broker market, including market concentration for the top three and top ten brokers, the position of Aon, Marsh, JLT, Towergate and Willis, and the role of networks or alliances;

- availability of an accompanying BrokerBASE™ which provides key financial and other metrics for the brokers included in each country, plus a convenient, supporting market data file, both in Excel format.

For further information about this research, please access the table of contents and report prospectus by clicking on the links at the top of this page, or e-mail info@finaccord.com.

Statistics

Views

Total Views
575
Views on SlideShare
303
Embed Views
272

Actions

Likes
0
Downloads
0
Comments
0

2 Embeds 272

http://www.finaccord.com 266
http://finaccord.com 6

Accessibility

Upload Details

Uploaded via as Adobe PDF

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

    Report prospectus commercial_non-life_insurance_brokers_southern_western_europe Report prospectus commercial_non-life_insurance_brokers_southern_western_europe Presentation Transcript

    • Commercial Non-Life Insurance Brokers in Southern and Western Europe Commercial Non-Life Insurance Brokers in Southern and Western Europe Report Prospectus July 2012 Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 1
    • Commercial Non-Life Insurance Brokers in Southern and Western Europe Prospectus contents Page What is the research? 3 What methodology has been used? 4 What is the report structure? 5 What does the BrokerBASE™ deliver? 6 What does the market data annexe deliver? 7 What are the key features of the research? 8 How can the research be used? 9 Who can use the research? 10 What are some of the key findings? 11 What is the cost and format? 12-15 How can the research be purchased? 16 Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 2
    • Commercial Non-Life Insurance Brokers in Southern and Western Europe What is the research? Finaccord’s report titled Commercial Non-Life Insurance Brokers in Southern and Western Europe and the BrokerBASE™ that accompanies it investigate the importance of brokers in the distribution of non-life insurance for businesses in eight countries of this European region. Brokers are the most important single distribution channel for this industry in the region, and Finaccord’s research indicates that fees and commissions earned by brokers from commercial non-life insurance in Southern and Western Europe were worth about EUR 7.12 billion in 2011. Moreover, brokers are increasing their share of this market in some countries and are expected to maintain their overall share in future, in spite of the challenging economic circumstances. This report first provides unique data for the size, segmentation and growth of the commercial non- life insurance market itself in Belgium, France, Ireland, Italy, the Netherlands, Portugal, Spain and the UK. It then quantifies the share of this market that is intermediated by brokers and ranks the leading brokers in each country, with coverage of between 15 and 60 depending upon the country, according to their revenues from commercial non-life insurance, excluding income from other activities. This analysis is based on an investigation covering some 285 brokers across the region, making it by far the most detailed and comprehensive study of this market ever published and building upon Finaccords original report on the subject published in 2009. Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 3
    • Commercial Non-Life Insurance Brokers in Southern and Western Europe What methodology has been used? Finaccord’s investigation into commercial non-life insurance brokers in Southern and Western Europe was carried out between March and May 2012. The core of this research was an analysis of leading brokers in each country that combined telephone interviews with senior executives with published information and company accounts. Reliable statistics concerning the market share of brokers do not exist in most countries, and in no cases whatsoever are revenues from commercial non-life insurance shown separately from personal lines, life insurance and pensions, and employee benefits. Therefore, this study provides genuinely unique data to answer the following questions: • How large is the commercial non-life insurance market in each country and how does it segment? • What are the key regulatory issues in each country? • What proportion of business was handled by brokers in 2011 and how has this changed since 2007? • Who are the leading brokers in each market, by revenues and employee numbers?  The BrokerBASE™ ranks the top 15 to 60 commercial non-life brokers per country, depending on the size of the broker industry in each case. • What are the main strengths and areas of specialisation of these leading brokers? • How concentrated or fragmented are commercial non-life insurance broking markets? • How can commercial non-life insurance broking markets be expected to develop up to 2015? Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 4
    • Commercial Non-Life Insurance Brokers in Southern and Western Europe What is the report structure? 0. Executive Summary: providing a concise evaluation of the principal findings of the report. 1. Introduction: offering rationale, description of methodology and some definitions. 2. Regional Overview: an overview of the market for commercial non-life insurance brokers in Southern and Western Europe including estimates for the size, segmentation and growth rate of the commercial non-life insurance market itself, the share of this market that is distributed by brokers and how this has changed since 2007, market concentration both in overall terms and for Aon, Marsh, JLT, Towergate and Willis specifically, and the outlook to 2015. 3. Belgium: an in-depth analysis of the market for commercial non-life insurance broking in Belgium including: key regulatory developments; quantification and segmentation of commercial non-life insurance from 2007 to 2011; brokers’ share of this market and quantification of broker fees and commissions from commercial lines; analysis of broker market concentration; ranking of the leading commercial non-life insurance brokers in Belgium by revenues; additional comments concerning broker distribution strategies and specialisation; and forecasts for commercial non-life insurance premiums, brokers’ market share and brokers’ revenues up to 2015. 4 - 10: France, Ireland, Italy, the Netherlands, Portugal, Spain and the UK (structure as for Belgium). Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 5
    • Commercial Non-Life Insurance Brokers in Southern and Western Europe What does the BrokerBASE™ deliver? See change in broker ranking, Select broker 2007 to 2011 Commercial non-life Broker network affiliation Total number of In-country In-countryCountry Broker broking revenues, 2011 / strategic partnership employees, 2011 ranking 2011 ranking 2007 (EUR million)Netherlands Raetsheren Van Orden AESIS 60 11.55 8 11France Rambaud Labrosse Euribron 49 5.31 28 21UK Reich Insurance Group 78 10.13 34 n/aSpain RSM Correduría de Seguros 60 2.32 23 20Italy S&B Essebi Insurance Broker Consorzio Brokers Italiani 25 2.69 36 29 Select country View broker network Appreciate size of broking Source: Finaccord BrokerBASE™ affiliations / strategic revenues from commercial partnerships non-life insurance Note - The BrokerBASE™ also includes each brokers website and UHC (ultimate holding company) if relevant plus entries for whether they have a specialist focus by product, client sector, client size and / or region and whether their transaction capability is purely offline, purely online or mixed. Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 6
    • Commercial Non-Life Insurance Brokers in Southern and Western Europe What does the market data annexe deliver? COUNTRY X For each country, the market data annexe 1) Size, segmentation and growth of the commercial non-life insurance market, gross direct written premiums, 2007 to 2011 provides the sample data shown to the left EUR million 2007 2008 2009 2010 2011 Nominal Real CAGR plus a list of the top ten brokers ranked by CAGR commercial non-life insurance broking Motor Property 700 653 691 680 707 689 669 705 707 725 0.2% 2.6% -1.9% 0.4% revenues. Liability 436 449 461 471 485 2.7% 0.5% Legal expenses 282 294 311 322 331 4.1% 1.8% MAT Other 131 437 129 452 123 452 125 483 129 496 -0.5% 3.2% -2.6% 1.0% In conjunction with the full overview report, the market data annexe also includes a Total 2,639 2,695 2,742 2,774 2,873 2.1% -0.1% series of ten tables that make comparisons 2) Size of the commercial non-life market, brokers share of this market and revenues earned from it, 2007, 2011 and 2015 across all eight countries of various key data Nominal Nominal points contained in the report. EUR million / % 2007 2011 2015 CAGR CAGR 2007-2011 2011-2015 Commercial non-life premiums 2,639 2,873 3,237 2.1% 3.0% This annexe can be used as a convenient Brokers share of commercial source of data already in Excel format which non-life premiums 47.6% 54.0% 60.0% means that there is no need for users to re- Brokers revenue from enter data from the PDF report into their own commercial non-life premiums 204 211 264 0.9% 5.8% Excel worksheets. 3) Market concentration measured as % of revenues earned from commercial non-life insurance broking, 2007 and 2011 Share of broking market 2007 2011 Top 3 brokers 28.4% 31.9% Top 10 brokers 43.7% 47.5% Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 7
    • Commercial Non-Life Insurance Brokers in Southern and Western Europe What are the key features of the research? Key features of this research include: • analysis of market size, growth, segmentation and trends for commercial non-life insurance premiums: how much is the underlying insurance market worth in this region? • quantification and forecast of the share of commercial non-life insurance premiums distributed by brokers, the revenues they earn from commercial lines, and the importance of this sector to brokers; • identification of the top 15 to 60 brokers in each country specifically for commercial non-life insurance business, with estimates for the revenue they generate from this sector alone and their total employee numbers; • detailed information concerning the structure of the broker market, including market concentration for the top three and top ten brokers, the position of Aon, Marsh, JLT, Towergate and Willis, and the role of networks or alliances; • availability of an accompanying BrokerBASE™ which provides key financial and other metrics for the brokers included in each country, plus a convenient, supporting market data file, both in Excel format. Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 8
    • Commercial Non-Life Insurance Brokers in Southern and Western Europe How can the research be used? You may be able to use this report in one or more of the following ways: • quantify the size and dynamism of the broker market for commercial non-life insurance in Southern and Western Europe; • compare eight countries in a single comprehensive source of information that uses a uniform methodology to size the underlying commercial non-life insurance market and to quantify brokers’ share of distribution; • assess a range of potential business opportunities: from selecting the territory that offers the best prospect for expansion, to targets for acquisition, to niche product development and ideas for distribution partnerships; • understand the competitive landscape in each country through its market concentration, the importance of international brokers, and brokers distribution strategies; • identify the leading brokers in each country or across this European region as a whole, with coverage of competitors such as Cabinet Bessé, Gruppo GPA, Lockton, Meeùs and Verspieren. Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 9
    • Commercial Non-Life Insurance Brokers in Southern and Western Europe Who can use the research? 1. Insurers: this report provides a unique analysis of the importance of brokers specifically for commercial non-life insurance, country by country. It will help you to judge if you have the right distribution strategy for your business in each geography, and to identify if you are acquiring an appropriate volume of business with each of the leading brokers. 2. Brokers: this report enables you to quantify your market share specifically for commercial non- life insurance, which cannot be done using any other published sources. Moreover, its coverage of eight countries in the region helps you to plan international expansion or potential acquisitions, and to identify your main competitors. 3. Technology companies: the growing importance of online trading of commercial non-life insurance in certain European countries means that there are opportunities for specialised IT service providers to develop and promote systems that improve broker efficiency, service and broker-insurer interaction. 4. Management consultancies: are you helping an insurance broker or underwriter with its future strategy in commercial non-life insurance? Understand the current status of commercial non- life insurance broking in Europe, saving time and effort on researching the subject yourself. Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 10
    • Commercial Non-Life Insurance Brokers in Southern and Western Europe What are some of the key findings? 1. Across Southern and Western Europe as a whole, the leading five groups held a share of broking revenues from commercial non-life insurance of around 41.8% in 2011 Aon, 15.0% Marsh, 11.4% Other, 58.2% Willis / Gras Savoye, 9.3% JLT / March-JLT / Marine & Aviation JLT / Siaci Saint Honoré, 3.4% Towergate, 2.6% Source: Finaccord Commercial Non-Life Insurance Broker Survey Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 11
    • Commercial Non-Life Insurance Brokers in Southern and Western Europe What are some of the key findings? (cont.) 2. A fast-deteriorating environment brought about significant consolidation in Spains market for commercial non-life insurance broking between 2007 and 2011 Top 3 brokers Top 10 brokers % share of commercial non-life insurance broking revenues 100% 80% 57.9% 60% 48.3% 41.2% 40% 32.9% 20% 0% 2007 2011 Source: Finaccord analysis Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 12
    • Commercial Non-Life Insurance Brokers in Southern and Western Europe What are some of the key findings? (cont.) 3. Generally speaking, brokers are most likely to develop marketing strategies characterised by product or client sector specialism and relatively few have an online sales capability International Regional Product / client Online networks focus specialisms transaction Key: Belgium 2 2 2 0 0 = 0% of brokers with distribution strategy France 1 1 3 1 1 = 1% to 25% of brokers with distribution strategy Ireland 2 0 2 1 2 = 26% to 50% of brokers with distribution strategy Italy 1 2 2 0 3 = 51% to 75% of brokers with distribution strategy Netherlands 1 2 1 0 4 = 76% to 100% of brokers with distribution strategy Portugal 2 0 1 0 Spain 1 1 3 0 UK 2 1 3 1 Total 1 1 2 1 Source: Finaccord Commercial Non-Life Insurance Broker Survey Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 13
    • Commercial Non-Life Insurance Brokers in Southern and Western Europe What are some of the key findings? (cont.) 4. Key findings from the executive summary include: • Finaccord estimates that the total revenues earned by commercial non-life broking in 2011 were EUR 7.12 billion, of which EUR 3.06 billion came from the UK alone, or 42.9% of the regions total; • brokers distributed 76.5% of commercial non-life insurance premiums across Southern and Western Europe in 2011, taken as a weighted average across eight countries; • in real terms (once inflation has been taken into account), brokers revenues fell between 2007 and 2011 in all countries, with the steepest drops being recorded in Spain and Ireland (with compound annual rates of decline of 7.4% and 5.4%, respectively) • the leading trio of Aon, Marsh and Willis (including Gras Savoye) accounted for 35.7% of all commissions and fees paid for commercial non-life insurance broking in this region in 2011 • brokers revenue from commercial non-life insurance is expected to rise only in the UK and Ireland between 2011 and 2015, by 1.6% and 0.6% respectively, as a compound annual growth rate in real terms - a difficult underlying commercial non-life insurance market will make life tough for brokers elsewhere. Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 14
    • Commercial Non-Life Insurance Brokers in Southern and Western Europe What is the cost and format? Commercial Non-Life Insurance Brokers in Southern and Western Europe is available as a standard Adobe Acrobat PDF document and / or hard copy. The BrokerBASE™ that accompanies it at no further charge is in Microsoft Excel format. Costs for this research set, a sister title on the same subject, country- specific studies on the same subject, and other related titles available at the time of publication are as follows: REPORT PRICE * Commercial Non-Life Insurance Brokers in Southern and Western Europe GBP 2,495 Commercial Non-Life Insurance Brokers in Northern, Central and Eastern Europe GBP 2,495 Commercial Non-Life Insurance Brokers in Austria, Belgium, the Czech Republic etc. * GBP 595 Affinity and Partnership Marketing in UK Commercial Non-Life Insurance GBP 1,495 Fleet Insurance and Assistance in Europe GBP 2,995 Professional Indemnity Insurance in Europe GBP 2,995 * country-specific reports are available for a total of 20 European countries in total For UK-based clients, VAT at the prevailing rate will be added to the basic price. Costs quoted are for a single site user licence only. For a corporate user licence, please see the next slide for further details. Invoices can be paid in EUR, at the prevailing exchange rate, if preferred. Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 15
    • Commercial Non-Life Insurance Brokers in Southern and Western Europe How can the research be purchased? Simple. Just go to the relevant area of the Finaccord web site available at www.finaccord.com/order_eu_cib.htm and fill in the online order form, clearly indicating: • report required • type of corporate user licence, if required * • billing name • address and e-mail address • purchase order number, if applicable Please allow up to one working day for the delivery of electronic copy by e-mail. * For the corporate user licence please choose one of the following options: 1. One office, one country: no supplement over and above basic cost of reports ordered 2. Multiple offices, one country: additional 20% over and above basic cost of reports ordered 3. Multiple offices, two to ten countries: additional 50% over and above basic cost of reports ordered 4. Global (unlimited offices in unlimited countries): additional 100% over and above basic cost of reports ordered VAT at the prevailing rate will be added to the price of any corporate user licence acquired by UK-based buyers. Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 16