Weitere ähnliche Inhalte Mehr von Intelligo Consulting (20) Kürzlich hochgeladen (20) Report prospectus commercial_non-life_insurance_brokers_northern_central_eastern_europe1. Commercial Non-Life Insurance Brokers in Northern, Central and Eastern Europe
Commercial Non-Life Insurance Brokers
in Northern, Central and Eastern Europe
Report Prospectus
July 2012
Expertise in financial services
© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 1
2. Commercial Non-Life Insurance Brokers in Northern, Central and Eastern 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
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© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 2
3. Commercial Non-Life Insurance Brokers in Northern, Central and Eastern Europe
What is the research?
Finaccord’s report titled Commercial Non-Life Insurance Brokers in Northern, Central and Eastern
Europe and the BrokerBASE™ that accompanies it investigate the importance of brokers in the
distribution of non-life insurance for businesses in 12 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 Northern, Central and Eastern Europe were worth about EUR 2.75 billion in 2011.
Moreover, brokers are increasing their share of this market in most countries, often at the expense
of tied agents, and are expected to continue growing 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 Austria, the Czech Republic, Denmark, Finland, Germany, Norway,
Poland, Romania, Russia, Sweden, Switzerland and Turkey. It then quantifies the share of this
market that is intermediated by brokers and ranks the leading brokers in each country according to
their revenues from commercial non-life insurance, excluding income from other activities. This
analysis is based on an investigation covering some 230 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.
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4. Commercial Non-Life Insurance Brokers in Northern, Central and Eastern Europe
What methodology has been used?
Finaccord’s investigation into commercial non-life insurance brokers in Northern, Central and Eastern
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 ten to 40 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?
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5. Commercial Non-Life Insurance Brokers in Northern, Central and Eastern 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
Northern, Central and Eastern 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, Ecclesia, Funk International, Marsh and Willis specifically, and the outlook to 2015.
3. Austria: an in-depth analysis of the market for commercial non-life insurance broking in Austria
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 Austria 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 - 14: Czech Republic, Denmark, Finland, Germany, Norway, Poland, Romania, Russia, Sweden, Switzerland and Turkey (structure as for
Austria).
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6. Commercial Non-Life Insurance Brokers in Northern, Central and Eastern 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-country
Country Broker broking revenues, 2011
/ strategic partnership employees, 2011 ranking 2011 ranking 2007
(EUR million)
Czech Republic AURA Lloyd 10 1.83 13 19
Denmark Bækmark og Kvist Euribron, UNiBA Partners 15 1.65 9 7
Germany BDJ Versicherungsmakler Trust Risk Control 90 10.54 21 n/a
Norway Bergvall Marine 13 2.71 9 n/a
Sweden Bolander & Co WING 25 4.53 7 8
Select country View broker network Appreciate size of broking
affiliations / strategic revenues from commercial
Source: Finaccord BrokerBASE™ partnerships non-life insurance
Note - The BrokerBASE™ also includes each broker's 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.
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7. Commercial Non-Life Insurance Brokers in Northern, Central and Eastern 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 12 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%
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8. Commercial Non-Life Insurance Brokers in Northern, Central and Eastern 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 ten to 40 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, Ecclesia, Funk International, Marsh 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.
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© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 8
9. Commercial Non-Life Insurance Brokers in Northern, Central and Eastern 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
Northern, Central and Eastern Europe;
• compare 12 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 GrECo International, Grupa MAK, Malakut, Renomia, and
Söderberg & Partners.
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10. Commercial Non-Life Insurance Brokers in Northern, Central and Eastern 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 12 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.
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11. Commercial Non-Life Insurance Brokers in Northern, Central and Eastern Europe
What are some of the key findings?
1. GrECo International is the largest commercial insurance broker in Austria, with an estimated
19.0% of the market - the next nine brokers hold close to 30% of the market between them
GrECo International, 19.0%
Other,
52.3% Broker A, 9.1%
Broker B, 3.9%
Broker C, 3.8%
Broker D, 2.7%
Broker E, 2.2%
Broker I, 1.7% Broker F, 2.0%
Broker H, 1.7%
Broker G,
1.8%
Source: Finaccord Commercial Non-Life Insurance Broking Survey
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12. Commercial Non-Life Insurance Brokers in Northern, Central and Eastern Europe
What are some of the key findings? (cont.)
2. In real terms (discounting inflation), total revenues from commercial non-life
insurance broking grew in nine of the 12 countries surveyed between 2007 and 2011
Austria -1.3%
Czech Republic 1.2%
Denmark -1.0%
Finland 10.3%
Germany -2.1%
Norway 0.8%
Poland 12.8%
Romania 8.5%
Russia 6.0%
Sweden 0.9%
Switzerland 9.0%
Turkey 9.2%
Total 0.2%
-5% 0% 5% 10% 15% 20%
Source: Finaccord analysis
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13. Commercial Non-Life Insurance Brokers in Northern, Central and Eastern Europe
What are some of the key findings? (cont.)
3. In Sweden, brokers are increasing their distribution share in commercial non-life
insurance with broking revenues from this activity forecast to reach EUR 180 million in 2015
Revenues from commercial Brokers' share of commercial
non-life insurance broking non-life insurance premiums
Broking revenues (EUR million) Brokers' share of premiums
200 100%
160 80%
120 60%
80 40%
40 20%
0 0%
2007 2011 2015
Source: Finaccord analysis
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14. Commercial Non-Life Insurance Brokers in Northern, Central and Eastern 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 2.75 billion, of which EUR 1.55 billion came from Germany alone, or 56.3% of the region's
total;
• brokers distributed 40.3% of commercial non-life insurance premiums across Northern, Central
and Eastern Europe in 2011, taken as a weighted average across 12 countries;
• Polish brokers' revenue from commercial non-life insurance increased by an estimated 12.8% a
year, as a compound annual growth rate from 2007 to 2011;
• the leading trio of Aon, Marsh and Willis is being challenged by an alliance between JLT, Ecclesia,
GrECo and Siaci Saint Honoré, cemented by cross-shareholdings;
• together, an increase in the underlying commercial non-life insurance market and an increase in
brokers' share of it mean that brokers' revenue from commercial non-life insurance is expected to
rise fastest in real terms in Finland, Romania, Russia and Turkey between 2011 and 2015.
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15. Commercial Non-Life Insurance Brokers in Northern, Central and Eastern Europe
What is the cost and format?
Commercial Non-Life Insurance Brokers in Northern, Central and Eastern 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 Northern, Central and Eastern Europe GBP 2,495
Commercial Non-Life Insurance Brokers in Southern and Western 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.
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16. Commercial Non-Life Insurance Brokers in Northern, Central and Eastern 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.
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