Finaccord presentation global bancassurance strategies vienna october 2013

Global Bancassurance Strategies
© Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 1
Bancassurance Models
Around the World
Presentation at the 8th Annual Bancassurance Conference
Vienna, October 3rd – 4th 2013

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

Key Factors that Shape Bancassurance Strategies
Bancassurance
Strategies
1. Meta level: Regulation Forced divestment
2. Country level: Regulation Market characteristics

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

Bancassurance Strategies on a Meta Level
Segmentation of 125 retail banking groups between those with captive underwriters, those with
joint venture underwriters and those with both captive and joint venture underwriters, 2013
Source: Finaccord Global Bancassurance reports
Captive,
41.6%
Captive and
joint venture,
13.6%
Joint
venture,
10.4%
None, 34.4%

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 Premiums (USD billion)
1 Crédit Agricole 29.00
2 ING Group 26.07
3 BNP Paribas 25.47
4 Bradesco 21.13
5 Crédit Mutuel 15.17
6 Lloyds Banking Group 13.13
7 Société Générale 13.09
8 HSBC 13.04
9 NongHyup Bank 9.11
10 Intesa Sanpaolo 7.28
Total of above 172.49
Other retail banking
groups in world's top 125
164.52
Grand total 337.01

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

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%

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%
AXA, 4.2%
CNP
Assurances,
4.2%
MAPFRE, 4.2%
other, 57.7%

© Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com
0%
20%
40%
60%
80%
100%
BR ES FR IT KR HK ID CN TH MX DE IN UK JP CL VN
Minimum % % range trigger
10
Bancassurance Strategies on a Country Level
Estimated distribution share of bancassurance in life insurance, 2012

'The Southern Europe model' (operating models, life and non-life insurance, weighted), 2011/2012
Spain
Italy
Brazil
Mexico
0% 20% 40% 60% 80% 100%
External underwriter Multiple external underwriters Captive underwriter
JV underwriter Other tricker

'The multiple underwriters model' (operating models, life and non-life insurance, weighted), 2012
China
0% 20% 40% 60% 80% 100%
Japan
South Korea

Asia displays various market structures (operating models, life and non-life insurance, weighted), 2012
0% 20% 40% 60% 80% 100%
Hong Kong
India
Indonesia
Thailand
Vietnam

Captive,
13.3%
Captive and
joint venture,
13.3%
Joint
venture,
33.3%
None, 40.0%
Future Outlook on the Meta Level: Asia's Rise
Segmentation of the 15 largest retail banking groups in China between those with a
captive, those with a joint venture and those with both a captive and joint venture, 2013
Estimated total customer
base: 1.3 billion

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

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 presentation global bancassurance strategies vienna october 2013

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