The life and annuity industry is showing overall growth in Q1 2008. Mergers and acquisitions are expected to increase as companies seek economies of scale. Product focus is shifting to more investment-oriented variable products. Regulatory oversight is increasing and complicating this shift. Advances in risk management and client segmentation technologies are a priority alongside developing web services to meet different generational expectations.
The document summarizes the state of the insurance M&A and non-life insurance market in Qatar. It notes that global insurance M&A reached its highest level in two years in 2011, with 546 deals compared to 521 in 2010. In Qatar, the non-life insurance market is dominated by five national companies that hold most of the large energy sector business, though the overall market is still relatively small compared to countries with similar populations. The motor insurance segment accounts for a small portion of the Qatari market compared to other GCC states.
Intact Financial Corporation held an investor presentation in February 2011. The presentation discussed IFC's position as the largest property and casualty insurer in Canada, with $4.5 billion in direct premiums written. It highlighted IFC's consistent outperformance of the Canadian P&C industry, including a 10-year combined ratio that was 3.8 percentage points better than the industry average. The presentation also outlined IFC's growth strategies, including organic growth through its multiple distribution channels and the potential for industry consolidation through acquisitions.
Investment opportunities in the non-banking sector - 2014 Imara Investor Conf...Imara Group
Presentation on the investment opportunities in the non-banking sector, by Douglas Hoto from First Mutual Holdings at the Imara Investor Conference 2014 in Zimbabwe.
World Insurance Report 2015 from Capgemini and EfmaCapgemini
The World Insurance Report 2015 from Capgemini and Efma analyzes the major disruptions Insurers of the Future are likely to face, including: changing demographics, evolving customer demands, technology advancements, and increasing competition and the impact they may have on current business models. Built from Capgemini’s Insurer Capability Maturity Framework, and insights from 165 senior executive interviews, the report maps both current and desired Insurer maturity levels across seven key capabilities and provides a transformation roadmap for insurers to overcome those disruptors.
Featuring data from over 15,500 customers globally, Capgemini’s exclusive Customer Experience Index (CEI) highlights the alarming drop in positive experience levels, driven by Gen Y customers’ high digital expectations, and their detrimental impact on firm revenues. Addressing both life and non-life segments, the World Insurance Report 2015 covers 30 insurance markets across North America, Europe and Asia-Pacific.
Intact Financial Corporation is Canada's largest personal and commercial insurer. It has $6.5 billion in direct premiums written and is the number 1 insurer in several Canadian provinces. The presentation outlines Intact's scale advantages, consistent outperformance of industry metrics like combined ratio and return on equity, and strategic focus areas of enhancing its business mix, pursuing acquisitions, and returning capital to shareholders. Intact is well positioned for continued growth and outperformance relative to the Canadian property and casualty insurance industry.
The document discusses insurance industry leaders' predictions for 2009 in light of the financial crisis. They predict:
- Sales will be flat or increase slightly while profits will be lower. Term and Medicare products may see increases while variable products will be weak.
- The financial crisis will lead to some industry consolidation and lower earnings. It may cause companies to rethink product guarantees. Insurers will focus on restoring consumer confidence.
- Products with guarantees like universal life and fixed annuities will perform better as consumers seek stability. Variable products may slow as markets remain volatile. Insurers will focus on hedging risks from guarantees in variable annuities.
The document discusses forecasts for the insurance industry in 2010 from various industry leaders. They predict modest growth in life insurance sales of 3-5% but flat or negative growth for annuities and profits. Products with guarantees will be strongest. Consolidation may continue due to economic challenges including low interest rates and investment losses. The outlook is cautiously optimistic but the recovery will be gradual.
The document summarizes the state of the insurance M&A and non-life insurance market in Qatar. It notes that global insurance M&A reached its highest level in two years in 2011, with 546 deals compared to 521 in 2010. In Qatar, the non-life insurance market is dominated by five national companies that hold most of the large energy sector business, though the overall market is still relatively small compared to countries with similar populations. The motor insurance segment accounts for a small portion of the Qatari market compared to other GCC states.
Intact Financial Corporation held an investor presentation in February 2011. The presentation discussed IFC's position as the largest property and casualty insurer in Canada, with $4.5 billion in direct premiums written. It highlighted IFC's consistent outperformance of the Canadian P&C industry, including a 10-year combined ratio that was 3.8 percentage points better than the industry average. The presentation also outlined IFC's growth strategies, including organic growth through its multiple distribution channels and the potential for industry consolidation through acquisitions.
Investment opportunities in the non-banking sector - 2014 Imara Investor Conf...Imara Group
Presentation on the investment opportunities in the non-banking sector, by Douglas Hoto from First Mutual Holdings at the Imara Investor Conference 2014 in Zimbabwe.
World Insurance Report 2015 from Capgemini and EfmaCapgemini
The World Insurance Report 2015 from Capgemini and Efma analyzes the major disruptions Insurers of the Future are likely to face, including: changing demographics, evolving customer demands, technology advancements, and increasing competition and the impact they may have on current business models. Built from Capgemini’s Insurer Capability Maturity Framework, and insights from 165 senior executive interviews, the report maps both current and desired Insurer maturity levels across seven key capabilities and provides a transformation roadmap for insurers to overcome those disruptors.
Featuring data from over 15,500 customers globally, Capgemini’s exclusive Customer Experience Index (CEI) highlights the alarming drop in positive experience levels, driven by Gen Y customers’ high digital expectations, and their detrimental impact on firm revenues. Addressing both life and non-life segments, the World Insurance Report 2015 covers 30 insurance markets across North America, Europe and Asia-Pacific.
Intact Financial Corporation is Canada's largest personal and commercial insurer. It has $6.5 billion in direct premiums written and is the number 1 insurer in several Canadian provinces. The presentation outlines Intact's scale advantages, consistent outperformance of industry metrics like combined ratio and return on equity, and strategic focus areas of enhancing its business mix, pursuing acquisitions, and returning capital to shareholders. Intact is well positioned for continued growth and outperformance relative to the Canadian property and casualty insurance industry.
The document discusses insurance industry leaders' predictions for 2009 in light of the financial crisis. They predict:
- Sales will be flat or increase slightly while profits will be lower. Term and Medicare products may see increases while variable products will be weak.
- The financial crisis will lead to some industry consolidation and lower earnings. It may cause companies to rethink product guarantees. Insurers will focus on restoring consumer confidence.
- Products with guarantees like universal life and fixed annuities will perform better as consumers seek stability. Variable products may slow as markets remain volatile. Insurers will focus on hedging risks from guarantees in variable annuities.
The document discusses forecasts for the insurance industry in 2010 from various industry leaders. They predict modest growth in life insurance sales of 3-5% but flat or negative growth for annuities and profits. Products with guarantees will be strongest. Consolidation may continue due to economic challenges including low interest rates and investment losses. The outlook is cautiously optimistic but the recovery will be gradual.
The Argentine insurance market is growing due to opportunities in the energy and agriculture sectors. New hydroelectric dams and other energy projects will drive growth in insurance demand. The government is focusing on increasing domestic energy production to reduce imports and stabilize the economy. Insurers see potential in agriculture, which is growing at 48.3% annually. While the regulatory environment presents challenges, the insurance industry is adapting and opportunities exist for insurers that understand the Argentine market.
This investor presentation provides an overview of Intact Financial Corporation (IFC), Canada's largest property and casualty insurer. Some key points:
1) IFC has consistently outperformed the industry on measures like return on equity, combined ratio, and premium growth over the past 10 years.
2) IFC aims to continue beating industry ROE by 500 bps annually and growing net operating income per share by 10% per year through initiatives like pricing segmentation, claims management, and acquisitions.
3) IFC has a strong capital position with $904 million in excess capital and a 215% Minimum Capital Test ratio as of Q1 2016. Management plans to continue increasing dividends and share buybacks
Intact Financial Corporation presented its investor presentation for June 2010. The presentation highlighted Intact's position as the dominant property and casualty insurer in Canada with over $4 billion in annual premiums written. Intact has a significant scale advantage over its competitors and has consistently outperformed the industry on key metrics like combined ratio and return on equity. The presentation also summarized Intact's strong financial results for the first quarter of 2010, including net operating income per share growth of 62.1% and an annualized return on equity of 16.1%.
Intact Financial Corporation is Canada's largest personal and commercial insurer. Some key points:
- IFC has $6.5 billion in annual premiums and holds the #1 market share position in several Canadian provinces.
- IFC has consistently outperformed the Canadian P&C insurance industry over the past 10 years based on metrics like combined ratio, return on equity, and premium growth.
- IFC has a strong financial position with $11.8 billion in invested assets and excess capital of $435 million. The company pursues growth through acquisitions, organic expansion, and returning capital to shareholders.
- Looking ahead, IFC is well-positioned to continue outperforming competitors
Intact Financial Corporation is Canada's largest personal and commercial property and casualty insurer, with $7 billion in annual premiums written. It has leading market shares in several Canadian provinces and consistently outperforms the industry on key metrics like combined ratio and return on equity. Intact has a diversified business mix across personal and commercial lines as well as regions. It expects to continue outperforming peers in 2013 through scale advantages, underwriting expertise, and a balanced investment portfolio.
This document outlines Coca-Cola's strategic vision and plans for 2020. It projects continued global economic growth, rising incomes, and 1 billion new consumers entering the global economy by 2020. This will drive increased consumption of non-alcoholic ready-to-drink beverages. Coca-Cola aims to more than double its system revenue over this period while expanding margins. Its 2020 business agenda focuses on maximizing cash flow, winning with Coca-Cola brands, accelerating innovation, and optimizing its franchise structure. Coca-Cola also outlines social commitments around sustainability, water stewardship, and promoting active healthy living.
The survey of over 100 top dealmakers finds strong confidence in the global M&A market in 2013. North American, European, and Greater China advisors largely expect increased deal activity globally and within their own regions compared to 2012. Key drivers are seen as strong CEO confidence, improving economies, and growing appetite for Chinese outward expansion. In North America, domestic deals and the consumer goods sector are expected to be most active. Greater China advisors anticipate outbound Chinese deals, while European advisors foresee foreign acquisitions in Europe driving activity.
The document summarizes 9 key drivers of change that will impact the global wealth and asset management industry in the coming year. The drivers include: 1) Increased regulation and transparency requirements in Europe and the US, 2) Accelerated M&A activity as firms seek to grow rapidly, 3) Cooling spending on private wealth management growth and a refocus on organic growth, 4) Increased scrutiny of pension funding gaps, 5) Continued growth of robo-advisors and automated platforms, 6) Continued dominance of ETFs over other investment products, 7) Persistence of fixed income assets despite predictions of demise, 8) Limited growth expected in emerging markets, and 9) Accelerated share buybacks by publicly
The document summarizes key findings from the Grant Thornton International Business Report (IBR) regarding business sentiment in Vietnam. While businesses in Vietnam remain optimistic about the economy and their prospects for revenue and hiring over the next year, optimism declined slightly compared to 2010. Inflation and the cost of financing remain major constraints. The majority of businesses feel the government's currency controls impact their operations and two-thirds have strengthened their focus on the domestic market since the global financial crisis.
The document analyzes key financial metrics and ratios for telecommunications companies AT&T and Verizon from 2010-2014. It finds that AT&T had greater fluctuations in metrics like return on equity and net profit margin due to variations in net income between years. Verizon generally saw more steady growth in revenue but higher leverage in 2014 following its acquisition of Vodafone's stake in Verizon Wireless. The analysis also examines asset turnover, working capital, return on assets, and dividend payout ratios to compare the financial performance and health of the two major telecom companies.
The fund underperformed its benchmark during the quarter due to its overweight positions in commodities and underweight positions in financials. The fund's exposure to stable sectors like IT and consumer staples helped performance earlier in the year but hindered returns this quarter as cyclical sectors strongly outperformed. The fund manager maintained a focus on quality companies and took profits in past winners, while modestly increasing exposure to financial and auto stocks to start building positions in recovery sectors.
Trends chaping the life insurance industry brazil samy_hazansamyseg
The document summarizes key trends and challenges facing the life and private pensions markets in Brazil in 2011-2012. It notes that Brazil's growing middle class and changing demographics towards an older population will attract new markets and shift demand towards retirement and health products. Regulations will also likely become stricter globally. Insurers will need to adapt to offering new products, becoming more specialized, and providing multi-channel customer service to engage customers who increasingly rely on digital technologies.
Mercer Capital's Value Focus: Construction and Building Materials | Q2 2020 |...Mercer Capital
Mercer Capital's Construction Industry newsletter provides a broad range of specialized valuation and transaction advisory services to the construction industry, including residential, commercial, civil, paving, concrete, and more. Each issue includes a segment focus, market overview, mergers and acquisitions review, and more.
The document provides an overview of the current financial crisis and government responses. It discusses where markets currently stand with large writedowns, falling stock prices, and job losses. It then examines how the crisis developed from the 2000s due to leverage, securitization of loans, and underestimation of risk. Finally, it outlines the massive government bailouts and responses and considers implications such as the future of banks and effects on employment.
This document provides a summary of the insurance market in Australia for the first half of 2015. It notes that competition has led to lower premiums for clients with good risk management. Insurers have retained more risk internally to reduce costs. Emerging risks like cyber threats, cloud computing, drones and terrorism present new challenges. The outlook discusses specific sectors like mining, which faces pressure from low commodity prices, and power generation, which has surplus capacity due to low economic growth. The document advises clients to ensure their insurance programs are sustainable in the current competitive market environment.
The document discusses how the new Conservative government in the UK will impact mortgages in 2015. Key points include:
1) The Conservative government aims to build more homes to address the supply and demand imbalance in the housing market. Plans include building 200,000 starter homes and extending "Help to Buy" and "Right to Buy" schemes.
2) "Help to Buy" offers government contributions of up to £3,000 for first-time buyers saving for a deposit through an ISA. "Right to Buy" will be extended to allow social housing tenants to purchase homes at a discount.
3) Mortgage rates remain very low due to low inflation and Bank of England interest rates staying at 0
- Intact Financial Corporation is Canada's largest home, auto and business insurer with over 5.9 billion in direct premiums written and a 17.3% market share.
- IFC has consistently outperformed the industry over 10 years in terms of premium growth, combined ratio, and return on equity.
- IFC aims to grow its net operating income per share by 10% per year, outperform the industry return on equity by 500 basis points annually, and have over 2 million customer advocates by 2020.
CME Group reported solid first quarter 2009 financial results, with total revenues of $647 million, total operating expenses of $252 million, and net income of $213 million. The company achieved a pre-tax operating margin of 61% and diluted earnings per share of $3.20.
- Kotak Mahindra Bank reported a 6% miss in its 3QFY15 consolidated profit compared to estimates, as competitive pressures impacted its non-lending businesses.
- The bank's lending business was in-line with estimates, with strong loan and fee growth driving a 37% rise in standalone profit. However, lower net interest margins weighed on performance.
- Asset quality remained stable, with gross and net NPAs of 1.9% and 1% respectively. Loan growth was healthy at 25% year-on-year excluding commercial vehicles.
- Non-banking subsidiaries like investment banking and asset management reported losses due to higher distribution costs and competitive pressures.
The global insurance providers market was valued at above $4.5 trillion in 2017. Asia Pacific was the largest region in the insurance providers market in 2017, accounting for under 34% market share.
Read report: https://www.thebusinessresearchcompany.com/report/insurance-providers-global-market-report-2018
SAPCLE Corporate Profile - An Enterprise Application Services Partner of Cho...SAPCLE Technologies
SAPCLE is an enterprise applications services partner specializing in SAP, Oracle, Hyperion, Siebel and BI. It offers consulting, implementation, upgrades, technical development, support services and outsourcing. SAPCLE aims to be customer-centric and provides flexible, accessible and easy to work with services. It has expertise across various technologies and enterprise applications. SAPCLE has a global presence and serves a wide range of clients across industries.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive function. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
The Argentine insurance market is growing due to opportunities in the energy and agriculture sectors. New hydroelectric dams and other energy projects will drive growth in insurance demand. The government is focusing on increasing domestic energy production to reduce imports and stabilize the economy. Insurers see potential in agriculture, which is growing at 48.3% annually. While the regulatory environment presents challenges, the insurance industry is adapting and opportunities exist for insurers that understand the Argentine market.
This investor presentation provides an overview of Intact Financial Corporation (IFC), Canada's largest property and casualty insurer. Some key points:
1) IFC has consistently outperformed the industry on measures like return on equity, combined ratio, and premium growth over the past 10 years.
2) IFC aims to continue beating industry ROE by 500 bps annually and growing net operating income per share by 10% per year through initiatives like pricing segmentation, claims management, and acquisitions.
3) IFC has a strong capital position with $904 million in excess capital and a 215% Minimum Capital Test ratio as of Q1 2016. Management plans to continue increasing dividends and share buybacks
Intact Financial Corporation presented its investor presentation for June 2010. The presentation highlighted Intact's position as the dominant property and casualty insurer in Canada with over $4 billion in annual premiums written. Intact has a significant scale advantage over its competitors and has consistently outperformed the industry on key metrics like combined ratio and return on equity. The presentation also summarized Intact's strong financial results for the first quarter of 2010, including net operating income per share growth of 62.1% and an annualized return on equity of 16.1%.
Intact Financial Corporation is Canada's largest personal and commercial insurer. Some key points:
- IFC has $6.5 billion in annual premiums and holds the #1 market share position in several Canadian provinces.
- IFC has consistently outperformed the Canadian P&C insurance industry over the past 10 years based on metrics like combined ratio, return on equity, and premium growth.
- IFC has a strong financial position with $11.8 billion in invested assets and excess capital of $435 million. The company pursues growth through acquisitions, organic expansion, and returning capital to shareholders.
- Looking ahead, IFC is well-positioned to continue outperforming competitors
Intact Financial Corporation is Canada's largest personal and commercial property and casualty insurer, with $7 billion in annual premiums written. It has leading market shares in several Canadian provinces and consistently outperforms the industry on key metrics like combined ratio and return on equity. Intact has a diversified business mix across personal and commercial lines as well as regions. It expects to continue outperforming peers in 2013 through scale advantages, underwriting expertise, and a balanced investment portfolio.
This document outlines Coca-Cola's strategic vision and plans for 2020. It projects continued global economic growth, rising incomes, and 1 billion new consumers entering the global economy by 2020. This will drive increased consumption of non-alcoholic ready-to-drink beverages. Coca-Cola aims to more than double its system revenue over this period while expanding margins. Its 2020 business agenda focuses on maximizing cash flow, winning with Coca-Cola brands, accelerating innovation, and optimizing its franchise structure. Coca-Cola also outlines social commitments around sustainability, water stewardship, and promoting active healthy living.
The survey of over 100 top dealmakers finds strong confidence in the global M&A market in 2013. North American, European, and Greater China advisors largely expect increased deal activity globally and within their own regions compared to 2012. Key drivers are seen as strong CEO confidence, improving economies, and growing appetite for Chinese outward expansion. In North America, domestic deals and the consumer goods sector are expected to be most active. Greater China advisors anticipate outbound Chinese deals, while European advisors foresee foreign acquisitions in Europe driving activity.
The document summarizes 9 key drivers of change that will impact the global wealth and asset management industry in the coming year. The drivers include: 1) Increased regulation and transparency requirements in Europe and the US, 2) Accelerated M&A activity as firms seek to grow rapidly, 3) Cooling spending on private wealth management growth and a refocus on organic growth, 4) Increased scrutiny of pension funding gaps, 5) Continued growth of robo-advisors and automated platforms, 6) Continued dominance of ETFs over other investment products, 7) Persistence of fixed income assets despite predictions of demise, 8) Limited growth expected in emerging markets, and 9) Accelerated share buybacks by publicly
The document summarizes key findings from the Grant Thornton International Business Report (IBR) regarding business sentiment in Vietnam. While businesses in Vietnam remain optimistic about the economy and their prospects for revenue and hiring over the next year, optimism declined slightly compared to 2010. Inflation and the cost of financing remain major constraints. The majority of businesses feel the government's currency controls impact their operations and two-thirds have strengthened their focus on the domestic market since the global financial crisis.
The document analyzes key financial metrics and ratios for telecommunications companies AT&T and Verizon from 2010-2014. It finds that AT&T had greater fluctuations in metrics like return on equity and net profit margin due to variations in net income between years. Verizon generally saw more steady growth in revenue but higher leverage in 2014 following its acquisition of Vodafone's stake in Verizon Wireless. The analysis also examines asset turnover, working capital, return on assets, and dividend payout ratios to compare the financial performance and health of the two major telecom companies.
The fund underperformed its benchmark during the quarter due to its overweight positions in commodities and underweight positions in financials. The fund's exposure to stable sectors like IT and consumer staples helped performance earlier in the year but hindered returns this quarter as cyclical sectors strongly outperformed. The fund manager maintained a focus on quality companies and took profits in past winners, while modestly increasing exposure to financial and auto stocks to start building positions in recovery sectors.
Trends chaping the life insurance industry brazil samy_hazansamyseg
The document summarizes key trends and challenges facing the life and private pensions markets in Brazil in 2011-2012. It notes that Brazil's growing middle class and changing demographics towards an older population will attract new markets and shift demand towards retirement and health products. Regulations will also likely become stricter globally. Insurers will need to adapt to offering new products, becoming more specialized, and providing multi-channel customer service to engage customers who increasingly rely on digital technologies.
Mercer Capital's Value Focus: Construction and Building Materials | Q2 2020 |...Mercer Capital
Mercer Capital's Construction Industry newsletter provides a broad range of specialized valuation and transaction advisory services to the construction industry, including residential, commercial, civil, paving, concrete, and more. Each issue includes a segment focus, market overview, mergers and acquisitions review, and more.
The document provides an overview of the current financial crisis and government responses. It discusses where markets currently stand with large writedowns, falling stock prices, and job losses. It then examines how the crisis developed from the 2000s due to leverage, securitization of loans, and underestimation of risk. Finally, it outlines the massive government bailouts and responses and considers implications such as the future of banks and effects on employment.
This document provides a summary of the insurance market in Australia for the first half of 2015. It notes that competition has led to lower premiums for clients with good risk management. Insurers have retained more risk internally to reduce costs. Emerging risks like cyber threats, cloud computing, drones and terrorism present new challenges. The outlook discusses specific sectors like mining, which faces pressure from low commodity prices, and power generation, which has surplus capacity due to low economic growth. The document advises clients to ensure their insurance programs are sustainable in the current competitive market environment.
The document discusses how the new Conservative government in the UK will impact mortgages in 2015. Key points include:
1) The Conservative government aims to build more homes to address the supply and demand imbalance in the housing market. Plans include building 200,000 starter homes and extending "Help to Buy" and "Right to Buy" schemes.
2) "Help to Buy" offers government contributions of up to £3,000 for first-time buyers saving for a deposit through an ISA. "Right to Buy" will be extended to allow social housing tenants to purchase homes at a discount.
3) Mortgage rates remain very low due to low inflation and Bank of England interest rates staying at 0
- Intact Financial Corporation is Canada's largest home, auto and business insurer with over 5.9 billion in direct premiums written and a 17.3% market share.
- IFC has consistently outperformed the industry over 10 years in terms of premium growth, combined ratio, and return on equity.
- IFC aims to grow its net operating income per share by 10% per year, outperform the industry return on equity by 500 basis points annually, and have over 2 million customer advocates by 2020.
CME Group reported solid first quarter 2009 financial results, with total revenues of $647 million, total operating expenses of $252 million, and net income of $213 million. The company achieved a pre-tax operating margin of 61% and diluted earnings per share of $3.20.
- Kotak Mahindra Bank reported a 6% miss in its 3QFY15 consolidated profit compared to estimates, as competitive pressures impacted its non-lending businesses.
- The bank's lending business was in-line with estimates, with strong loan and fee growth driving a 37% rise in standalone profit. However, lower net interest margins weighed on performance.
- Asset quality remained stable, with gross and net NPAs of 1.9% and 1% respectively. Loan growth was healthy at 25% year-on-year excluding commercial vehicles.
- Non-banking subsidiaries like investment banking and asset management reported losses due to higher distribution costs and competitive pressures.
The global insurance providers market was valued at above $4.5 trillion in 2017. Asia Pacific was the largest region in the insurance providers market in 2017, accounting for under 34% market share.
Read report: https://www.thebusinessresearchcompany.com/report/insurance-providers-global-market-report-2018
SAPCLE Corporate Profile - An Enterprise Application Services Partner of Cho...SAPCLE Technologies
SAPCLE is an enterprise applications services partner specializing in SAP, Oracle, Hyperion, Siebel and BI. It offers consulting, implementation, upgrades, technical development, support services and outsourcing. SAPCLE aims to be customer-centric and provides flexible, accessible and easy to work with services. It has expertise across various technologies and enterprise applications. SAPCLE has a global presence and serves a wide range of clients across industries.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive function. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
The document discusses how customer service has become the main differentiator for financial services companies in today's competitive landscape. It outlines several components of an effective customer service operation, including having one accountable leader, cross-training staff, focusing on quality and fast resolution, workforce management, and expanding self-service options. Developing strong customer service is positioned as critical for companies to succeed going forward.
This newsletter article discusses how leadership inaction has become a problem in many organizations. It provides examples of leadership inaction such as unaddressed personnel problems, ignored product lines, and antiquated systems. The article argues that leadership effectiveness has deteriorated, costing the industry profits every day. It calls for leaders to identify areas of inaction within their organizations in order to take action that enables growth and profitability.
The newsletter discusses various topics related to business processes and improvement. It shares a story about a process redesign project where challenging long-held assumptions about why certain processes existed led to discovering they no longer served a purpose. An executive used a parable about turkey wings to illustrate how obsolete practices can persist simply due to tradition rather than logic. The newsletter advocates regularly questioning processes to identify opportunities for improvement and remaining competitive.
This newsletter article discusses the importance of adapting to change by becoming a learner rather than relying on past knowledge. It notes that the business environment is undergoing rapid technological, social, political, and economic changes. To succeed, leaders must pursue new knowledge and practices rather than sticking to existing approaches. The article highlights an example of a company owner who learned from mistakes as he adapted his father's business to a new context. It concludes that to manage change, leaders must question current practices, understand issues below the surface, and prepare for challenges ahead.
Surround yourself with ambitious people who will help you achieve your goals. Maintain a positive attitude and believe in your ideas, as others will then believe in you. Stay determined and keep trying after failures, as great things don't happen every day but every day provides opportunities.
20140826 I&T Webinar_The Proliferation of Data - Finding Meaning Amidst the N...Steven Callahan
Joint presentation with I&T's covering the proliferation of data available to insurance companies today and a high level view of searching for value and leveraging the relevant and useful buried in all of the trivia.
Reviews the importance of the claims payment process and how that moment of truth can define the competitive advantage of an insurance company. Focus is on how understanding and improving the process of claims payment benefits market share and organic growth.
201308 Insurance And Technology Webinar: Upgrading Financial SystemsSteven Callahan
Webinar on the reasons for upgrading financial systems, which are often left behind with the focus on customer facing administration and distribution management systems. Yet regulations are forcing companies to look at the benefits of upgrading their financial systems.
201005 LOMA CFO Inforum: State of the Insurance IndustrySteven Callahan
Overview of the key drivers and economics influencing the insurance industry in the coming years. Major trends in products, distribution, and service discussed.
201406 IASA: Analytics Maturity - Unlocking The Business ImpactSteven Callahan
Overview of how experienced insurers are finally unlocking the business value of analytics to strengthen financial results through improved underwriting, better pricing, agent enablement, enhanced risk management, and targeted cost reductions and how analytics maturity and a roadmap increases the odds of success.
This publication includes the deal activity in the insurance sector such as overall highlights, key announced transactions, and the outlook ahead. Read our full report to learn more.
Life Settlement Industry Report
The dynamic nature of the life settlement market guided the creation of a comprehensive Life Settlement Industry Report. To present the landscape of the life settlement market as a whole, this report relies on growth data over the past four years as well as the increasingly competitive nature of the industry. A thorough discussion of the three types of risk associated with life settlements helps flesh out the portrait of the settlement market, and a summary of trends in the industry casts an eye toward the promising future of the industry.
Among the key findings in the industry report:
The growth of the life settlement industry has surpassed the predictions of forecasters. Whereas a 2016 Conning report projected an annual growth of 1 to 2 percent, the market has actually grown an average of 34 percent over the past few years.
With an aging population and lengthening life spans, retirement costs and the prohibitive price of long-term care necessitate options like the life settlement that can increase a senior’s disposable income.
Many people in their retirement years struggle with monthly expenses but hold wealth in non-liquid assets like a house, land, securities or a life insurance policy. When an insurance policy is no longer serving their needs, it can be converted into cash flow through a cash settlement to ease the retirement burden.
Learn more @: https://www.magnalifesettlements.com/
Insurance M&A activity in the US rose to unprecedented levels in 2015, surpassing what had been a banner year in 2014. There were 476 announced deals in the insurance sector, 79 of which had disclosed deal values with a total announced value of $53.3 billion. This was a significant increase from the 352 announced deals in 2014, of which 73 had disclosed deal values with a total announced value of $13.5 billion. Furthermore, unlike prior years where US insurance deal activity was isolated to specific subsectors, 2015 saw a significant increase in deal activity in all industry subsectors.
The document discusses the changing landscape of the Indian insurance industry and proposes a 14-point action agenda to help insurers drive profitable and sustainable growth. Some key trends transforming the industry include increased digitalization, changing consumer needs and behaviors, an aging population, and continued regulatory activism. Both life and non-life insurance are highly susceptible to disruption from digital technologies. The action agenda proposes strategies for insurers such as creating an "agency of the future", improving profitability in property and casualty insurance, leveraging data and technology, expanding offerings to small and medium enterprises, and adapting to the digital imperative.
The TICI Group of Company is pleased to present our 2021 Mid-Year Report in the BioLife Market.
As also we welcome your comments and feedback. Enjoy the read!
Vietnam's insurance market has grown rapidly in recent years and is expected to continue growing due to Vietnam's economic and demographic development. The market has been liberalized and now allows both domestic and foreign insurers. Foreign participation is increasing through joint ventures and acquisitions of domestic insurers. To further develop the insurance sector, Vietnam will restructure weaker insurers and classify all insurers into four groups based on their financial health. New regulations aim to improve insurer solvency and competitiveness. Foreign acquisitions of domestic insurers will be allowed up to 100% ownership of non-life insurers and subject to ownership caps for life insurers.
Mercer Capital's Value Focus: Insurance Industry | Q2 2015Mercer Capital
This document provides an overview and commentary on the insurance industry for the second quarter of 2015. It discusses trends and performance in various insurance subsectors including:
- Property & casualty insurance stocks rose modestly, with specialty insurers outperforming. Rate increases remained small while catastrophe losses are expected to be higher than last year.
- Reinsurance stocks increased led by consolidation speculation, though soft pricing is expected to continue.
- Life & health stocks increased slightly while managed care benefited from the Supreme Court upholding ACA exchanges. Consolidation is anticipated in managed care.
- Broker stocks rose slightly amid a soft pricing environment that may pressure broker revenue. The environment may become the new normal according to
The document discusses the insurance sector in India. It covers the introduction and history of insurance in India, the privatization of insurance in the 1990s, and the major effects of privatization. Some key points include:
- Insurance provides protection against risks by distributing losses across many individuals.
- The Indian government nationalized private insurance companies in 1956.
- The government began privatizing insurance in the 1990s, opening it up to private players.
- Since privatization, the insurance sector has grown significantly, with the number of policies and premium income rising sharply. Top private players have also experienced strong growth.
- Privatization has led to increased competition, new products, better technology and customer service. It has
Economist Intelligence Unit (EIU) white paper produced at the height of the financial crisis in January 2009 outlining the opportunities to learn from the downturn and best practice to success in a changing environment.
The document is the 2015 World Insurance Report which analyzes the performance of the global non-life insurance industry.
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1. Life and Annuity Industry Update (Q1 2008)
The industry is fairing well, showing growth across all lines and resilience to the subprime
mortgage issues. Top line comments of note:
o Mergers and acquisitions are expected to increase over 2007 as the consolidations bring
economies of scale and horizontal diversity.
o Channel competition from banks and direct sellers continue to pressure the agency and
brokerage systems, compoiunding the upcoming talent deficit when baby-boomers retitre.
o Product focus has shifted to more investment oriented variable and flexible products,
including new concepts like immediate annuity/401(k) wraps and an accelerated growth in
life settlement business expected to continued into the foreseeable future.
o Increased regulatory oversight, particularly in the variable products arena and suitability,
complicating the shift to more investment oriented products and the increase in channels
o Advances in risk management and client segmentation technologies, paired with a focus on
web services, take priority over legacy investments
I. Market 2
II. Strategy 3
III. Regulatory 5
IV. Distribution 8
V. Technology 9
2. Market
o U.S. individual life insurance premium increased twenty percent in third quarter 2007
resulting in an eight percent increase for the first nine months of 2007 over 2006.
o Increased service to and expansion into new distribution channels (BGAs, MGAs,
and wholesalers) affected sales tremendously.
o Total face amount in the third quarter rose by six percent over 2006, while the total
number of new policies sold declined by one percent.
o All products were up through the first nine months of 2007, especially universal and
variable universal life, which were up 9 and 10 percent (23 and 55% for the quarter).
o Year-to-date, term life grew seven percent and whole life grew three percent.
o The biggest portion of the sales increases seen through the third quarter stem from the
brokerage channel. In fact, with the exception of WL, all products were up especially
UL and VUL which were up 16 and 19 percent for the year and 28 and 110 percent
for the quarter.
o Universal life continued to hold lion's share of annualized premium through Sep 2007
at 40% while term and VUL remained steady at 23 and 15% respectively.
o The nation's largest insurers have been able to post strong numbers despite a difficult
investment environment. life and health sector was significantly more optimistic with fifty-
four percent expecting premium growth
o Next great frontier for retaining and expanding the revenue dollar resulting from qualified
and non-qualified fund accumulations. This frontier involves retaining and garnering the
highest amount of revenue during distribution phases.
o For the 1st quarter of 2007, the top 5 companies/fleets—John Hancock, Hartford Life, Pacific
Life, RiverSource and Lincoln National—captured 55% of all variable life sales (including
single premiums at 10%), while the top 10 companies/fleets garnered 79% of VL sales.
o 95% of all variable annuity sales have some form of Guaranteed Life Benefit (GLB)
o Career agents and independent broker-dealer firms dominated flexible-premium variable life
sales, capturing 45% and 36% of the market, respectively and also dominated second-to-die
variable life sales, capturing 40% and 38% of the market, respectively.
o Insurance company rating agency A.M. Best Co. said on Thursday that the subprime
exposure of the industry was "modest," and it did not expect to downgrade most of the
companies it covers.
o New York life expands presence in China as other insurers consider growing offshore to
escape cumbersome U.S. state by state regulations.
3. Strategy
o Product innovation was cited by thirty-three percent of the executives as an important driver
for future growth, while fourteen percent cited distribution and eleven cited technology
o Insurers’ strategic model needs to change as Boomers begin to retire.
o The pivot point for potential changes to the insurers’ strategic landscape will be 2011,
when the first Baby Boomer turns 65 and the retirement market begins to change
from the accumulation of assets towards distribution of retirement income.
o As this change accelerates because of the number of aging Boomers, insurers will
come under increasing pressure to adapt their business model and products to a new
strategic landscape.
o Developing a response to this challenge requires understanding two related questions:
How will retiring Boomers impact the multi-product and multi-market strategies
currently used to accumulate retirement assets? What operational challenges will
accompany changes in those strategies?
o As it explores these questions, this study develops some strategic and operational
responses insurers may consider as they plan for competition in a post-2011
retirement market
o An increase in mergers and acquisition activity in the next 12months, with more than 40
percent of the executives saying their highest priority for investment would be strategic
acquisitions followed by 30 percent who said technology.
o For 2007, deals totaled more than $1.4 trillion of assets under management (AUM)
acquired and $135 billion in securities firms (including exchanges).
o Private equity firms deployed $69 billion of capital in 122 financial services deals.
o As 2007's subprime upheaval migrates into the corporate credit markets in 2008,
major opportunities will arise for established, well financed firms to consolidate their
leadership position, bringing major changes in the strategy for the financial services
industry.
o 2007 represented two distinct halves: a growth phase followed by a stressed phase. In
2008, we expect to see activity driven initially by the market stresses, including
divestitures and continued minority investments followed by more strategic
acquisitions and cross border deals later in the year.
o An enormous opportunity exists for life insurers to participate in providing retirement income
for consumers.
o In the next 3 to 5 years, annuity sales will double to $300 billion from $150 billion
o There is more than $9 trillion of money in motion
4. o Companies should be ready to provide innovative products to the market, but they
also need to make sure innovation does not outstrip prudent risk management
o Consider the explosion of 500 living-benefit products and the opportunity they
represent to insurers
o Life settlements anticipated to grow about $1 billion in additional volume per year for the
foreseeable future. On the life insurer side, as those annual transactions accumulate, the
impact on in force business becomes a more significant profitability issue for the insurer.
o Several institutions, including Bear Stearns & Co. Inc., Credit Suisse, Goldman,
Sachs & Co., Mizuho International plc, UBS AG, and West LB AG have launched a
new organization called The Institutional Life Markets Association, Inc. or ILMA.
Created to encourage the competitive growth of the life settlement and
premium finance industries.
ILMA stated that it seeks to establish industry best practices and disclosures,
encourage standardization of documents, and advocate for the appropriate
regulation of the rapidly evolving life settlement and premium finance market.
It listed promoting transaction transparency, protecting the identity of
insureds, supporting longstanding insurable interest principles, and advancing
public understanding of the life settlement and premium finance industries.
o The National Conference of Insurance Legislators, Troy, N.Y., is in the final stages of
developing its Life Settlements Model Act.
o About 60% of top insurance executives expect the secondary market for life insurance
to be significantly larger in 5 years than it is today.
5. Regulatory
o Federal charter: distributors (IIA) against fed charter, mutuals (NAMIC) against, other
carriers (AIA) for it, change in political climate expected to change focus on charter
o Sen. John Sununu, advocate for the charter, switching from Banking to Finance
Committee, leaving a gap in advocacy
o Barney Frank, chair of House Financial Services Committee, contemplates splitting
life and annuity from p&c so that life optional charter could be done separately.
o Estate tax changes likely in 2008, raising exemption from 2 to 5 and increasing farmland
exclusions, with cap at 25 million estates, those over taxed at 30%
o Under the current law, the federal estate tax disappears in 2010, for just one year, and
then reappears in 2011 in its 2001 incarnation. Congress is unlikely to resolve this
mess until after the 2008 election.
o State insurance regulators are starting to put their approval for the new Straight-Through
Processing standards initiative in writing.
o Change to principle based reserving ,which industry wants so as to advance reserving
practices, received an encouraging tax treatment private letter ruling from the IRS which will
give momentum to the transition
o Viatical Settlements Model Act near completion by NAIC, which targets specifically the
STOLI (STranger Owned Life Ins) segment that sells to individuals with no insurable interest
in the policy owner.
o TRIA (Terrorism Risk Insurance Act) is renewed for 7 years. Does not include Group Life as
hoped, but did include internal as well as external terrorism, a cap for insurers, and
recognition that weapons of mass destruction (NBCR – Nuclear, Biological, Chemical,
Radiological – events) were uninsurable.
o NAIC Life Panel areas of focus
o Producer licensing reciprocity and easing of accelerated death benefit rules are two of the
issues surfacing at the National Association of Insurance Commissioners Life Insurance
and Annuities Committee.
o Getting the Interstate Insurance Product Regulation Commission up and running and
cutting approval times for some products to less than 30 days. Fees may be a bit steep for
smaller companies.
o Addressing the issue of standardized producer licensing practices, which the industry is
perceived as falling behind on (linked to GLB compliance issue that is required to
prevent a nationalized licensing approach).
6. o Discussing the NAIC’s new viatical settlements model law that imposes a 5-year ban on a
very limited group of transactions that the NAIC feels require extra scrutiny.
o Considering whether and how life insurers can use information about legal foreign travel
and travel plans in underwriting.
o Look into marketing of annuity products to seniors and the use of professional
designations.
o VA Suitability Rule 2821 creates heightened suitability obligation, expanded principal
review and approval requirements, and supervisory and training requirements for VA
transactions. This rule is pending additional rulings so it is not yet in effect. When it does
take effect, absent modifications, financial advisors selling VAs will be required to determine
and document:
o The customer has been informed, in general terms, of various VA features.
o The customer would benefit from certain VA features, such as tax deferred growth,
annuitization, or a death or living benefit.
o The following are suitable for the customer: The particular VA as a whole; the
underlying subaccounts; the riders and similar enhancements; and, in the case of an
exchange, the transaction as a whole.
o In the case of exchanges, there must also be consideration regarding whether:
- Customer may incur a surrender charge, be subject to start of a new surrender
period, lose existing benefits, or be subject to increased fees or charges.
- The customer would benefit from product enhancements and improvements.
- The customer’s account had had another deferred VA exchange within the
preceding 36 months.
o Requires that a registered principal review a transaction and determine whether he or
she approves of it prior to transmitting the customer’s application to the issuing
insurer for processing, but no later than 7 business days after the customer signs the
application. The registered principal may approve the transaction only if he or she has
determined there is a reasonable basis to believe the transaction would be suitable
based on all of the factors noted above.
o The registered principal reviewing the transaction must document and sign the
determinations as required regardless of whether he or she approves, rejects, or
authorizes the transaction.
o Requires firms to develop and maintain supervisory procedures that are reasonably
designed to achieve compliance with the proposed rule.
o Firms will be required to implement surveillance procedures to determine if financial
advisors “have rates of effecting deferred variable annuity exchanges that raise for
7. review whether such rates of exchanges evidence conduct inconsistent with the
applicable provisions of [t]he Rule, other applicable NASD rules, or the federal
securities laws.”
o Firms will also be required to have policies and procedures reasonably designed to
implement corrective measures to address inappropriate exchanges and the conduct of
associated persons who engage in inappropriate exchanges.
o Will be required to develop and implement training programs tailored to educate
registered representatives and registered principals on material features of VAs and
the Rule’s requirements.
o Some industry groups say states have diverged from producer licensing uniformity enough to
fall out of compliance with the Graham-Leach-Bliley Financial Services Modernization Act
of 1999.
o The GLB Act required states to establish uniform producer licensing requirements or
else cede responsibility for producer regulation to a new National Association of
Registered Agents and Brokers.
o The states met the act requirements well enough initially to avoid triggering the
creation of NARAB, but are now seen by some as having fallen out of compliance.
8. Distribution
o Agent and adviser's roles expected to transition to more of a coach or a sounding board, not
someone making the final decisions for the investor.
o The move has to be to a more collaborative environment, where you can't just assume
that these somewhat paternalistic business and advice models are going to transition
well. Flexibility is key.
o Numbers from The Insurance Information Institute (III), Washington, D.C., support the
theory that the distribution system is changing.
o Insurers using independent agents also sell directly to the consumer, either over the
Internet or though the mail.
o Direct writers are strongest in the personal lines, accounting for two-thirds of the
market. Agency writers account for the remainder. The ratio is reversed for
commercial lines where agency writers account for two-thirds and direct writers
account for one third of the market.
o This change in the market doesn't just affect agents. Without a united effort to make
independent agents more efficient, carriers face diminished effectiveness in their
distribution system.
o Bank Annuity Sales increase- Fixed Annuity Sales Up 12%, Variable Annuity Sales Up 15%
o Financial institutions sold $4.2 billion of fixed and variable annuities in October, up
from $3.7 billion in September and $4.1 billion in August.
o Total bank annuity sales hit a 19-month high in October, and have improved 45
percent since the beginning of 2007
o Year-over-year, total bank annuity sales were up 24 percent. Fixed annuities gained
momentum in banks late in the summer, as evidenced by a 31-percent sales increase
from July to August.
o By offering a broader range of retirement products and planning services, banks are
taking a more holistic approach when working to meet the retirement income needs of
their customers. Fixed and variable annuity products are an integral part of meeting
those needs, since annuities can provide tax deferral and a reliable stream of income
during retirement
9. Technology
o With $9 trillion in retirement income in play, and annuity sales expected to double to $300
billion in the next 3 to 5 years, life insurers will need the correct technologies in place.
o New retirees educated, require Web-based services that meet the generational differences like
automatic plan features, use of the web, and the coach vs parent agent role (nonconformity).
o Once you move from the boomer generation to Gen X and Gen Y, the Web and
automated services are not a nice-to-have, but a need-to-have.
o Technology-based solutions benefiting clients will play a critical role in supporting
the complex activities regarding retirement.
o "You've got to have flexibility for the boomers and for Gen Y. If you have a
lot of legacy point solutions that are hard to try to adapt and evolve, it will be
difficult for you to provide new functionality."
o Annuity writers improving service by spending new project dollars on service portals, with
40% spending "some" new project dollars on contact centers
o Annuity insurers are being held to customer service expectations set by banks,
brokerages and mutual funds rather than the traditional life insurance models.
o VA contract holders expect to be check values and change positions as easily as they
can with their brokerage accounts:
o 28% of consumers over age 60 reported checking their insurance policy
values online regularly, 38% reported checking their investment values online;
o For Generation X, 47% use the Web as preferred method for communicating
with financial services providers, 75% use their brokerage firm's Web sites.
o 2007 was about efficiency and cleaning up the back office (core system replacement
projects); for 2008, customer-facing initiatives take center stage.
o Customer experience projects a big trend. Every company has one going on, GEICO
touting their customer service initiatives has forced other carriers to follow suit.
o Offering an integrated customer experience is paramount, the online experience must
be similar to the experience you get from the call center or if an agent stops by.
o From the traditional focus on sales growth to a more customer and agent-centric
approach, carriers should start measuring customer experience. Companies need to
know where they stand vis-à-vis the competition.
o Another trend likely to be big 2008 is the move to beef up risk management capabilities
using location intelligence solutions combined with maintaining underwriting discipline.
o Predictive Analytics and Complex Event Processing Technology Move to Cutting Edge of
Financial Services Industry
10. o Used to segment valuable customers and anticipate the types of products and services
that will attract their new business or increase their loyalty.
o Becoming more pervasive around the operations of financial services companies,
beginning with customer focus -- as we go from a product-based industry to a
customer-focused industry and from a product profitability standpoint to a customer
lifetime value ambition,"