commercial non-life insurance brokers · australia oct-12 indonesia jul-15 russia jun-16 ......
Post on 28-Jul-2020
4 Views
Preview:
TRANSCRIPT
Commercial Non-Life Insurance Brokers – Global Series Prospectus
© Finaccord, 2016 Web: www.finaccord.com. E-mail: info@finaccord.com 1
Commercial Non-Life
Insurance BrokersWorldwide research across 36 countries
Commercial Non-Life Insurance Brokers – Global Series Prospectus
© Finaccord, 2016 Web: www.finaccord.com. E-mail: info@finaccord.com 2
Prospectus contents
What is the research?
Which countries are covered?
What methodology has been used?
What is the structure of the reports?
What does the BrokerBASE™ deliver?
What does the market data annexe deliver?
What are the key features of the research?
How can the research be used?
Who can use the research?
What are some of the key findings?
What are the prices?
How can the research be purchased?
3
4
5
6
7-8
9
10
11
12
13-15
16
17
Page
Commercial Non-Life Insurance Brokers – Global Series Prospectus
© Finaccord, 2016 Web: www.finaccord.com. E-mail: info@finaccord.com 3
What is the research?
Finaccord’s series of country-specific reports about commercial non-life insurance brokers, plus the
BrokerBASE™ datasets and market data annexes that accompany them, investigates the size,
growth and structure of the market for broking of non-life insurance for business, public sector and
not-for-profit customers in 36 countries. Brokers are the most important single distribution channel
for commercial lines in a number of territories; moreover, they 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, often in spite of challenging market conditions.
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 1,000 brokers around the world, with a total ranging from ten to 80 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.
Commercial Non-Life Insurance Brokers – Global Series Prospectus
© Finaccord, 2016 Web: www.finaccord.com. E-mail: info@finaccord.com 4
Which countries are covered?
CountryMost recent
updateCountry
Most recent
updateCountry
Most recent
update
Argentina Jan-13 India Jul-16 Romania Jun-16
Australia Oct-12 Indonesia Jul-15 Russia Jun-16
Austria Jun-16 Ireland Jun-16 Singapore Jul-15
Belgium Jun-16 Italy Jul-16 South Africa Jan-15
Brazil Jan-15 Japan Jan-13 Spain Jun-16
Canada Jan-15 Malaysia Apr-15 Sweden Jun-16
China Jan-15 Mexico Jul-16 Switzerland Jun-16
Czech Republic Jun-16 Netherlands Jun-16 Thailand May-15
Denmark Jun-16 Norway Jun-16 Turkey Jul-16
Finland Jun-16 Philippines Apr-15 UK Jun-16
France Jul-16 Poland Jun-16 USA Jul-16
Germany May-16 Portugal Jun-16 Vietnam May-15
Commercial Non-Life Insurance Brokers – Global Series Prospectus
© Finaccord, 2016 Web: www.finaccord.com. E-mail: info@finaccord.com 5
What methodology has been used?
Finaccord’s investigation into commercial non-life insurance brokers is being carried out on an on-
going basis. The core of this research is an analysis of leading brokers in each country that combines
phone 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 are
broking revenues from commercial non-life insurance shown separately from those derived from
personal lines, employee benefits consulting and other activities. 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 proportion of business is handled by brokers and how has this changed over the last five
years?
• who are the leading brokers in each market, by revenues and employee numbers?
➢ the BrokerBASE™ datasets rank the top ten to 80 commercial non-life brokers per country,
depending on the size of the broker industry in each case;
• what is the approximate business mix of these leading brokers?
• how concentrated or fragmented are commercial lines broking markets?
• how can commercial non-life insurance broking markets be expected to develop in future years?
Commercial Non-Life Insurance Brokers – Global Series Prospectus
© Finaccord, 2016 Web: www.finaccord.com. E-mail: info@finaccord.com 6
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 (P&C) insurance broking in each
country including: regulatory environment; quantification and segmentation of commercial non-life insurance
over a five-year period (mainly 2010-2014 or 2011-2015 depending upon the date of publication) with a
segmentation between liability, motor, property, MAT and other premiums; brokers’ distribution share of this
market and quantification of their total fees and commissions derived from commercial lines; analysis of broker
market concentration as defined by the share of commercial lines broking revenues of the top three and top
ten competitors; ranking of the leading brokers by revenues generated from commercial lines activity;
approximate segmentation of the total broking revenues of the leading competitors between commercial lines,
personal lines, employee benefits plus life / health insurance, and wholesale insurance / reinsurance;
additional commentary concerning the strategies and specialisation of the leading brokers; and forecasts for
commercial non-life insurance premiums, brokers’ distribution share and the value of commercial lines broking
revenues mainly up to either 2018 or 2019 (again depending upon the date of publication).
In addition, for reports being published in 2016, note that the value of both the underlying commercial non-life
insurance sector and the associated commercial lines broking market is segmented by size of insured entity
(i.e. across micro, small, medium, large and very large customers).
Commercial Non-Life Insurance Brokers – Global Series Prospectus
© Finaccord, 2016 Web: www.finaccord.com. E-mail: info@finaccord.com
Country BrokerBroker network affiliation
/ strategic partnership
Total number of
employees, 2014
Commercial non-life
broking revenues, 2014
(USD million)
Commercial non-life
broking market share,
2014
In-country
ranking, 2014
Malaysia Transnational Insurance Brokers 48 4.1 3.7% 8
Malaysia Sterling Insurance Brokers BrokersLink 40 4.0 3.6% 9
Malaysia MMS Brokers 34 3.7 3.4% 10
Malaysia CIMB Insurance Brokers 52 3.7 3.3% 11
Malaysia Anika Insurance Brokers WBN 80 3.2 2.9% 12
7
What does the BrokerBASE™ deliver? (1)
View broker network
affiliations / strategic
partnerships
See broker
ranking
Select country
Select broker
Source: Finaccord BrokerBASE™
Appreciate size of broking
revenues from commercial
non-life insurance
Commercial Non-Life Insurance Brokers – Global Series Prospectus
© Finaccord, 2016 Web: www.finaccord.com. E-mail: info@finaccord.com 8
What does the BrokerBASE™ deliver? (2)
Country BrokerCommercial
insurance
Personal
insurance
EB / life /
health
insurance
Wholesale /
reinsurance
Germany API Assekuranz Partner der Industrie 95-100% 0% 0-5% 0-5%
Germany Gußmann 86-91% 0-5% 9-14% 0%
Germany Robert Schüler 88-93% 0-5% 0-5% 0%
Germany Deutsche Versicherungsmakler 75-85% 0-5% 16-21% 0%
Germany Gebrüder Krose 35-45% 0% 0-5% 50-60%
Source: Finaccord BrokerBASE™
Select broker
Appreciate approximate
percentage of revenues due
to commercial lines broking
Appreciate approximate
percentage of revenues due
to other broking activities
Select country
Commercial Non-Life Insurance Brokers – Global Series Prospectus
© Finaccord, 2016 Web: www.finaccord.com. E-mail: info@finaccord.com 9
What does the market data annexe deliver?
For each country, the market data annexe
provides the sample data shown to the left
plus a list of the top ten brokers ranked by
commercial non-life insurance broking
revenues.
This annexe can be used as a convenient
source of data already in Excel format which
means that there is no need for users to re-
enter data from the PDF report into their own
Excel worksheets.
1) Size, segmentation and growth of the commercial non-life insurance gross written premiums, 2011 to 2015
EUR million 2011 2012 2013 2014 2015Nominal
CAGRReal CAGR
Motor 4,393 4,733 5,665 5,532 5,382 5.2% 3.7%
Property 7,523 7,658 7,863 7,923 8,091 1.8% 0.3%
Liability 2,800 2,720 2,720 2,800 2,800 0.0% -1.5%
MAT 1,100 1,000 1,100 1,000 1,000 -2.4% -3.9%
Other 3,609 3,690 3,960 4,198 4,344 4.7% 3.8%
Total 19,425 19,801 21,307 21,454 21,617 2.7% 1.2%
2) Size of the commercial non-life market, brokers' share of this market and revenues earned from it, 2011, 2015 and 2019
EUR million / % 2011 2015 2019
Nominal
CAGR
2011-2015
Nominal
CAGR
2015-2019
Commercial non-life premiums 19,425 21,617 23,954 2.7% 2.6%
Brokers' share of commercial
non-life premiums77.6% 76.4% 76.0%
Brokers' revenue from commercial
non-life insurance1,847 2,031 2,212 2.4% 2.2%
3) Market concentration as measured by combined share of commercial non-life broking revenues of top three and top ten brokers, 2015
Share of broking market 2011 2015
Top three brokers 39.9% 40.3%
Top ten brokers 57.5% 72.2%
Commercial Non-Life Insurance Brokers – Global Series Prospectus
© Finaccord, 2016 Web: www.finaccord.com. E-mail: info@finaccord.com 10
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 80 brokers in each country specifically for commercial non-life
insurance business, with estimates for the revenue that 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 leading international brokers such as Aon,
Marsh & McLennan Companies and Willis Towers Watson, 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.
Commercial Non-Life Insurance Brokers – Global Series Prospectus
© Finaccord, 2016 Web: www.finaccord.com. E-mail: info@finaccord.com 11
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 structure of both the underlying commercial non-life insurance sector and the
associated commercial lines broking market in each of 20 European countries and 16 major non-
European markets;
• utilise a single comprehensive source of information that deploys a uniform methodology to
quantify brokers’ distribution share in the commercial non-life insurance market and how this has
changed and is likely to change in future;
• understand the competitive landscape for commercial lines broking in each country as defined by
market concentration, the presence of international brokers and the business mix of the leading
competitors;
• identify leading brokers in each country, with coverage of international competitors such as Aon,
Arthur J. Gallagher & Co, Ecclesia Gruppe, GrECo International, Howden, HUB International, JLT,
Lockton, Marsh & McLennan Companies and Willis Towers Watson.
Commercial Non-Life Insurance Brokers – Global Series Prospectus
© Finaccord, 2016 Web: www.finaccord.com. E-mail: info@finaccord.com 12
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 commercial lines business in each territory 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 36 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 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 36 countries worldwide, saving time and effort on researching the
subject yourself.
Commercial Non-Life Insurance Brokers – Global Series Prospectus
© Finaccord, 2016 Web: www.finaccord.com. E-mail: info@finaccord.com 13
What are some of the key findings? (cont.)1. The competitive structure of Poland's market for commercial non-life insurance
broking became significantly more concentrated between 2011 and 2015
Source: Finaccord analysis
0%
20%
40%
60%
80%
100%
2011 2015
Top three brokers Top ten brokers
% share of commercial non-life insurance broking revenues
22.1%
35.5%
47.9%
60.4%
Commercial Non-Life Insurance Brokers – Global Series Prospectus
© Finaccord, 2016 Web: www.finaccord.com. E-mail: info@finaccord.com 14
What are some of the key findings?
Source: Finaccord Commercial Non-Life Insurance Broking Survey
Aon, 30.6%
Broker B, 22.4% Broker C, 7.3%
Broker D, 4.2%
Broker E, 4.1%
Broker F, 3.0%
Broker G, 3.0% Broker H, 2.2%
Broker I, 2.1%
Broker J, 2.0%
other,19.1%
2. Aon is the largest commercial lines broker in Singapore, with an estimated 30.6% of the
market, and in total the top ten brokers control over 80% of this market between them
Commercial Non-Life Insurance Brokers – Global Series Prospectus
© Finaccord, 2016 Web: www.finaccord.com. E-mail: info@finaccord.com 15
What are some of the key findings? (cont.)
Revenues from commercial
non-life insurance broking
Brokers' share of commercial
non-life insurance premiums
2010 2014 2018
Broking revenues (USD billion) Brokers' share of premiums
3. In South Africa, brokers dominate commercial non-life insurance distribution within a
market that is likely to have been worth around USD 450 million in broking revenues in 2014
Source: Finaccord analysis
0
20
40
60
80
100
0
100
200
300
400
500
600
Commercial Non-Life Insurance Brokers – Global Series Prospectus
© Finaccord, 2016 Web: www.finaccord.com. E-mail: info@finaccord.com 16
These reports about commercial non-life insurance brokers in different countries around the world
are available as standard PDF documents. The BrokerBASE™ datasets and market data annexes
that accompany them at no further charge are in Excel format. Prices for each country are as
follows:
* For Singapore-based clients, GST 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 or GBP, at the prevailing exchange rate, if preferred.
What are the prices?
Argentina USD 1,195 France USD 1,195 Portugal USD 895
Australia USD 1,195 Germany USD 1,195 Romania USD 895
Austria USD 1,195 India USD 1,195 Russia USD 895
Belgium USD 895 Ireland USD 895 South Africa USD 1,195
Brazil USD 1,195 Italy USD 895 Spain USD 895
Canada USD 1,195 Japan USD 1,195 Sweden USD 895
China USD 1,195 Mexico USD 1,195 Switzerland USD 1,195
Czech Republic USD 895 Netherlands USD 895 Turkey USD 895
Denmark USD 895 Norway USD 895 UK USD 1,195
Finland USD 895 Poland USD 895 USA USD 1,195
Commercial Non-Life Insurance Brokers in...
Commercial Non-Life Insurance Brokers – Global Series Prospectus
© Finaccord, 2016 Web: www.finaccord.com. E-mail: info@finaccord.com 17
How can the research be purchased?
Simple. Just go to the relevant area of the Finaccord website, create your account (if you do not
have one already) and place your order online. Products paid for online by card will be delivered
immediately by e-mail but please allow up to one working day for delivery by e-mail if you choose to
pay on receipt of invoice.
With regards to the corporate user licence, you will be asked to 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
Alternatively, you can place an order by sending your request to order@finaccord.com, clearly
stating the product(s) required, associated price(s) and billing details for eventual invoice or card
payment receipt.
top related