Global Bancassurance Strategies

Bancassurance Models
Global Bancassurance Strategies
Around theBancassurance Forum
World
...
Global Bancassurance Strategies

Agenda
 Key factors that shape bancassurance strategies

 The meta level: strategies us...
Global Bancassurance Strategies

Key Factors that Shape Bancassurance Strategies

1. Meta level:

Regulation

Forced dives...
Global Bancassurance Strategies

Key Factors that Shape Bancassurance Strategies
1. Meta level
New regulation:

New capita...
Global Bancassurance Strategies

Bancassurance Strategies on a Meta Level
Segmentation of 125 retail banking groups betwee...
Global Bancassurance Strategies

Bancassurance Strategies on a Meta Level: Captives and JVs
Ranking of banking groups by v...
Global Bancassurance Strategies

Bancassurance Strategies on a Meta Level: Divestments
Examples:
ING Group:

Needs to dive...
Global Bancassurance Strategies

Bancassurance Strategies on a Meta
Level: Strategic Partnerships
Segmentation of 125 reta...
Global Bancassurance Strategies

Bancassurance Strategies on a Meta Level:
Strategic Partnerships
Unweighted provider shar...
Global Bancassurance Strategies

Bancassurance Strategies on a Country Level
Estimated distribution share of bancassurance...
Global Bancassurance Strategies

Bancassurance Strategies on a Country Level
'The Southern Europe model' (operating models...
Global Bancassurance Strategies

Bancassurance Strategies on a Country Level
'The multiple underwriters model' (operating ...
Global Bancassurance Strategies

Bancassurance Strategies on a Country Level
Asia displays various market structures (oper...
Global Bancassurance Strategies

Future Outlook on the Meta Level: Asia's Rise
Segmentation of the 15 largest retail banki...
Global Bancassurance Strategies

Future Outlook on the Meta Level: Europe's Fall?

 High growth countries: Latin American...
Global Bancassurance Strategies

Any questions?
Sources and related Finaccord publications:
Global Bancassurance: Strategi...
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Presentation: Global Bancassurance Strategies at the 7th Annual Bancassurance Forum Vienna February 2014

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Finaccord presentation at the 7th Annual Bancassurance Forum in Vienna in February 2014, organised by Fleming Europe.

The Agenda of the presentation included:
- Key factors that shape bancassurance strategies
- Analysis of the strategies used by the world's 125 largest retail banking groups
- Analysis of differences across global bancassurance markets
- Future bancassurance outlook

Published in: Economy & Finance
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Presentation: Global Bancassurance Strategies at the 7th Annual Bancassurance Forum Vienna February 2014

  1. 1. Global Bancassurance Strategies Bancassurance Models Global Bancassurance Strategies Around theBancassurance Forum World Presentation at 7th Annual Vienna, February 11th – 12th 2014 © Finaccord Ltd., 2014 Web: www.finaccord.com. E-mail: info@finaccord.com 1
  2. 2. Global Bancassurance Strategies Agenda  Key factors that shape bancassurance strategies  The meta level: strategies used by the world's 125 largest retail banking groups  The country level: bancassurance markets differences across global  Future outlook © Finaccord Ltd., 2014 Web: www.finaccord.com. E-mail: info@finaccord.com 2
  3. 3. Global Bancassurance Strategies Key Factors that Shape Bancassurance Strategies 1. Meta level: Regulation Forced divestment Bancassurance Strategies 2. Country level: © Finaccord Ltd., 2014 Regulation Market characteristics Web: www.finaccord.com. E-mail: info@finaccord.com 3
  4. 4. Global Bancassurance Strategies 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 © Finaccord Ltd., 2014 Web: www.finaccord.com. E-mail: info@finaccord.com 4
  5. 5. Global Bancassurance Strategies 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 None, 34.4% Captive, 41.6% Joint venture, 10.4% Captive and joint venture, 13.6% Source: Finaccord Global Bancassurance reports © Finaccord Ltd., 2014 Web: www.finaccord.com. E-mail: info@finaccord.com 5
  6. 6. Global Bancassurance Strategies Bancassurance Strategies on a Meta Level: Captives and JVs Ranking of banking groups by value of premiums of captive and joint venture underwriters, 2012 Rank Group 1 2 3 4 5 6 7 8 9 10 Premiums (USD billion) Crédit Agricole ING Group BNP Paribas Bradesco Crédit Mutuel Lloyds Banking Group Société Générale HSBC NongHyup Bank Intesa Sanpaolo 29.00 26.07 25.47 21.13 15.17 13.13 13.09 13.04 9.11 7.28 Total of above 172.49 Other retail banking groups in world's top 125 164.52 Grand total 337.01 Source: Finaccord Global Bancassurance reports © Finaccord Ltd., 2014 Web: www.finaccord.com. E-mail: info@finaccord.com 6
  7. 7. Global Bancassurance Strategies 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 © Finaccord Ltd., 2014 Web: www.finaccord.com. E-mail: info@finaccord.com 7
  8. 8. Global Bancassurance Strategies 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 One or more strategic insurance partners, 41.6% No strategic insurance partner, 58.4% Source: Finaccord Global Bancassurance reports © Finaccord Ltd., 2014 Web: www.finaccord.com. E-mail: info@finaccord.com 8
  9. 9. Global Bancassurance Strategies Bancassurance Strategies on a Meta Level: Strategic Partnerships Unweighted provider share of strategic bancassurance partnerships, 2013 Aviva, 8.5% Allianz, 5.6% Prudential, 5.6% Zurich, 5.6% Ageas, 4.2% other, 57.7% AXA, 4.2% CNP Assurances, 4.2% MAPFRE, 4.2% Source: Finaccord Global Bancassurance reports © Finaccord Ltd., 2014 Web: www.finaccord.com. E-mail: info@finaccord.com 9
  10. 10. Global Bancassurance Strategies Bancassurance Strategies on a Country Level Estimated distribution share of bancassurance in life insurance, 2012 100% 80% 60% 40% 20% 0% BR ES FR SK PL HK IT BE ID TH MX DE IN JP CL VN Source: Finaccord Global Bancassurance reports © Finaccord Ltd., 2014 Web: www.finaccord.com. E-mail: info@finaccord.com 10
  11. 11. Global Bancassurance Strategies Bancassurance Strategies on a Country Level 'The Southern Europe model' (operating models, life and non-life insurance, weighted), 2011/2012/2013 External underwriter Multiple external underwriters Captive underwriter JV underwriter Other tricker France Italy Brazil Mexico 0% 20% Source: Finaccord Global Bancassurance reports © Finaccord Ltd., 2014 40% 60% Web: www.finaccord.com. E-mail: info@finaccord.com 80% 100% 11
  12. 12. Global Bancassurance Strategies Bancassurance Strategies on a Country Level 'The multiple underwriters model' (operating models, life and non-life insurance, weighted), 2012 External underwriter Multiple external underwriters Captive underwriter JV underwriter Other tricker Japan South Korea 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Source: Finaccord Global Bancassurance reports © Finaccord Ltd., 2014 Web: www.finaccord.com. E-mail: info@finaccord.com 12
  13. 13. Global Bancassurance Strategies Bancassurance Strategies on a Country Level Asia displays various market structures (operating models, life and non-life insurance, weighted), 2012 External underwriter Multiple external underwriters Captive underwriter JV underwriter Other tricker Hong Kong India Indonesia Thailand Vietnam 0% 20% Source: Finaccord Global Bancassurance reports © Finaccord Ltd., 2014 40% 60% Web: www.finaccord.com. E-mail: info@finaccord.com 80% 100% 13
  14. 14. Global Bancassurance Strategies 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 Captive, 13.3% Captive and joint venture, 13.3% None, 40.0% Estimated total customer base: 1.3 billion Source: Finaccord Global Bancassurance reports © Finaccord Ltd., 2014 Joint venture, 33.3% Web: www.finaccord.com. E-mail: info@finaccord.com 14
  15. 15. Global Bancassurance Strategies 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 © Finaccord Ltd., 2014 Web: www.finaccord.com. E-mail: info@finaccord.com 15
  16. 16. Global Bancassurance Strategies 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) © Finaccord Ltd., 2014 Web: www.finaccord.com. E-mail: info@finaccord.com 16

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