Más contenido relacionado Más de Intelligo Consulting (20) Series prospectus commercial_non-life_insurance_brokers_europe1. Commercial Non-Life Insurance Brokers in Europe
Commercial Non-Life
Insurance Brokers in Europe
Series prospectus for 20 country-specific reports
AUSTRIA, BELGIUM, CZECH REPUBLIC, DENMARK, FINLAND, FRANCE,
GERMANY, IRELAND, ITALY, NETHERLANDS, NORWAY, POLAND, PORTUGAL,
ROMANIA, RUSSIA, SPAIN, SWEDEN, SWITZERLAND, TURKEY, UK
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 Europe
Prospectus contents
Page
What is the research? 3
What methodology has been used? 4
What is the structure of the reports? 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? 11-13
What are the prices? 14
How can the research be purchased? 15
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3. Commercial Non-Life Insurance Brokers in Europe
What is the research?
Finaccord’s series of country-specific reports about commercial non-life insurance brokers and the
BrokerBASE™ datasets that accompany them investigate the importance of brokers in the
distribution of non-life insurance for businesses in 20 countries in Europe. Brokers are the most
important single distribution channel for this sector in many countries, and Finaccord’s research
indicates that fees and commissions earned by brokers from commercial non-life insurance in
Europe were worth almost EUR 10 billion in 2011. Moreover, brokers are increasing their share of
this market in many countries, often at the expense of tied agents, and are often expected to
continue growing their overall share in future, in spite of the challenging economic circumstances.
The reports first provide unique data for the size, segmentation and growth of the commercial non-
life insurance market itself in each country. They then quantify the share of this market that is
intermediated by brokers and rank the leading brokers according to their revenues from commercial
non-life insurance, excluding income from other activities. These analyses are based on an
investigation covering over 500 brokers across Europe, with a total ranging from ten to 60 in any
given country, depending upon the number and importance of brokers in that country. This makes
them by far the most detailed and comprehensive studies of this market ever published, building
upon Finaccord's original reports on the subject published in 2009.
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4. Commercial Non-Life Insurance Brokers in Europe
What methodology has been used?
Finaccord’s investigation into commercial non-life insurance brokers in 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, these
studies provide 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™ datasets rank the top ten to 60 commercial non-life brokers per country,
depending on the size of the broker industry in each case.
• What are the main strengths and areas of specialisation of these leading brokers?
• How concentrated or fragmented are commercial non-life insurance broking markets?
• How can commercial non-life insurance broking markets be expected to develop up to 2015?
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5. Commercial Non-Life Insurance Brokers in Europe
What is the structure of the reports?
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. Market Analysis: an in-depth analysis of the market for commercial non-life insurance broking in
each country 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 each country 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.
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6. Commercial Non-Life Insurance Brokers in 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)
France Diot EOS RISQ 810 82.97 7 8
France Draber-Neff Assurances 62 3.12 36 n/a
France Dufaud Assurances 28 4.48 32 23
France Dynassurances 21 2.25 46 n/a
France Eurodommages 27 1.92 50 n/a
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 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%
This annexe can be used as a convenient
source of data already in Excel format which
Total 2,639 2,695 2,742 2,774 2,873 2.1% -0.1%
means that there is no need for users to re-
2) Size of the commercial non-life market, brokers' share of this market and revenues earned from it, 2007, 2011 and 2015 enter data from the PDF report into their own
Nominal Nominal Excel worksheets.
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%
Brokers' share of commercial
non-life premiums 47.6% 54.0% 60.0%
Brokers' revenue from
commercial non-life premiums 204 211 264 0.9% 5.8%
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 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 each country?
• 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 60 brokers in each country specifically for commercial non-life
insurance business, with estimates for the revenue they generate from this sector alone and their
total employee numbers;
• detailed information concerning the structure of the broker market, including market concentration
for the top three and top ten brokers, the position of Aon, Marsh 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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9. Commercial Non-Life Insurance Brokers in Europe
How can the research be used?
You may be able to use these reports in one or more of the following ways:
• quantify the size and dynamism of the broker market for commercial non-life insurance in each of
20 European countries;
• utilise 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, with coverage of competitors such as Cabinet Bessé,
GrECo International, Grupa MAK, Gruppo GPA, Lockton, Malakut, Meeùs, Renomia, Söderberg &
Partners, and Verspieren.
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10. Commercial Non-Life Insurance Brokers in Europe
Who can use the research?
1. Insurers: these reports provide a unique analysis of the importance of brokers specifically for
commercial non-life insurance in each country. They 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: the reports enable you to quantify your market share specifically for commercial non-
life insurance, which cannot be done using any other published sources. Moreover, their
coverage of 20 countries 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 across 20 European countries, saving time and effort on researching the
subject yourself.
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11. Commercial Non-Life Insurance Brokers in Europe
What are some of the key findings? (cont.)
1. A fast-deteriorating environment brought about significant consolidation in
Spain's market for commercial non-life insurance broking between 2007 and 2011
Top 3 brokers Top 10 brokers
% share of commercial non-life insurance broking revenues
100%
80%
57.9%
60%
48.3%
41.2%
40% 32.9%
20%
0%
2007 2011
Source: Finaccord analysis
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12. Commercial Non-Life Insurance Brokers in Europe
What are some of the key findings?
2. 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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13. Commercial Non-Life Insurance Brokers in 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 Europe
What are the prices?
These reports about commercial non-life insurance brokers in different European countries are
available as standard Adobe Acrobat PDF documents and / or hard copies. The BrokerBASE™
datasets that accompany them at no further charge are in Microsoft Excel format. Prices for each
country are as follows:
Commercial Non-Life Insurance Brokers in...
Austria GBP 595 Norway GBP 595
Belgium GBP 595 Poland GBP 595
Czech Republic GBP 595 Portugal GBP 595
Denmark GBP 595 Romania GBP 595
Finland GBP 595 Russia GBP 595
France GBP 595 Spain GBP 595
Germany GBP 595 Sweden GBP 595
Ireland GBP 595 Switzerland GBP 595
Italy GBP 595 Turkey GBP 595
Netherlands GBP 595 UK GBP 595
* 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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15. Commercial Non-Life Insurance Brokers in 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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