the belgian insurance market 03 2012
DESCRIPTION
Presentation by Wauthier Robyns, Director Press & Communication of AssuraliaTRANSCRIPT
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Entre contrainte et créativité: pour comprendre l’assurance
depuis la Belgique
Wauthier Robyns30 03 2012
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Excerpt from Teach Yourself/Insurance
In 1563 an Antwerp merchant insured three ships on a voyage from Havre to Central America.
The policy, in French, was endorsed by thirty-seven English underwriters who acknowledge that the insurance is « after the use of Lombard Street of London and of the bourse of Antwerp »
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Limits of insurance
Uninsured or self-insured risk
Social Protection
(Social security, Relief funds, …)
Other financial services/assets
(Deposits, Funds, …)
Insurance market
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Uninsurable risk(assessment, capacity, affordability or moral hazard issues)
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TAX
PREMIUM
FIN. INCOME
LOSSES
EXPENSES
DISTRIBUTION
IN OUT
TECHNICAL PROVISIONS
INVESTMENTS
CAPITAL4
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LOCAL GLOBAL
eg. nail studio eg. wide body passenger jets
Agents
Brokers
Insurance companies
Insurance company Groups
Reinsurance companies
Customers
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Total: 63.000 bn $
Japan: 9%
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Source: Insurance Europe (CEA) European Insurance – Key Facts (September 2011)
Total: 4.100 bn $
Japan: 13%
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Source: Insurance Europe (CEA) European Insurance – Key Facts (September 2011)8
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6. Voisinage de Chemins de fer ou de Tramways à vapeur.Le voisinage de Chemins de fer ou de Tramways à vapeur donne lieu aux surprimes suivantes :A moins de 15 mètres des rails des voies ferrées :Vingt pour cent pour les risques ci-après:1° Ceux tarifés plus de fr. 2 °/°°;…
Extrait “Tarif Général des Risques Simples ou Ordinaires (Incendie et Explosions) du Syndicat de Compagnies Belges d’Assurances (première édition) 1924”
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21. Interdiction d’abandonner aux Assurés une partie de la Commission.Il est expressément interdit de faire aux assurés une remise quelconque, soit sur la prime, soit sur la commission.Au cas où il sera établi qu’une concession semblable aura été faite, l’intermédiaire deviendra passible d’une amende équivalente à la totalité de sa commission sur le risque pendant toute la durée de la police.L’amende sera versée entre les mains de M. le Secrétaire du Syndicat et recevra une destination à convenir.
Extrait “Tarif Général des Risques Simples ou Ordinaires (Incendie et Explosions) du Syndicat de Compagnies Belges d’Assurances (première édition) 1924”
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Courts Parliament
Government(Federal)
BNB/NBB
OCM/CDZFSMA
FAO/FAT
SIGeDIS
BCSS/KSZ
CTIF/CFIPrivacy competition
Belgian Insurance
MarketEIOPA
EBA ESMA
ESRB
Council Commission
EP ECJ
EU
Standard-settingbodies
FATF IASBIRS
OECD
IOPSFSB@BIS
IAISG-20
WORLD BANK / IMF
Joint Forum
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The Belgian insurance market by lines of business and distribution patterns
By lines of business (2011 e)
Market Share
Trends (last year)
Distribution (2010)
Life -group-individual
- guaranteed yield
- unit-linked
16%
38%
9%
= (-)
= (-) (+)
Overall Life 63% = (-)Non Life-Auto-Property-Health-Workmen’s compensation-Casualty & other lines
12%
8%5%4%
8%
< CPI≤ CPI> CPI
(-)
Overall Non-Life 37% = CPIGrand Total 100% = (-)
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I I I I I I B D D D
I I I B B B B B B D
B B B B B B B B I I
I I I I B B B B D D
I I I I I I I B D DI I I I I I I I B DI I I I I I B D D DI I I I I I I D D D
I I I I I I I B D D
I I I I I B B B D D
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Source: Insurance Europe (CEA) European Insurance – Key Facts (September 2011) 15
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Source: Insurance Europe (CEA) European Insurance – Key Facts (September 2011)16
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Aantal verzekeringsondernemingen bij de invoering van de controlewet (1975)Leven: 84 Belgische/31 buitenlandseBA Auto: 73 Belgische/27 buitenlandseArbeidsongevallen: 62 Belgische/20 buitenlandseOverige branches: onbekend
Aantal in België toegelaten verzekeringsondernemingen vandaag (2011)Leven: 41 Belgische/10 buitenlandseBA Auto: 35 Belgische/18 buitenlandseArbeidsongevallen: 17 Belgische/0 buitenlandseTotaal: 97 Belgische/50 buitenlandse+ bij de toezichthouder geregistreerde vrije dienstverleners uit de Europese Economische Ruimte: 893 ondernemingen (per 31 december 2010)
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Insurers’ investment portfolio
EU (2009)
Source: Insurance Europe (CEA) European Insurance – Key Facts (September 2011) 21
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Select casesof Public-private partnerships
Natural catastrophes
Terrorism
Lifetime Health coverage
Bare legalAssistance coverage
Workmen’s compensation
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Financiële activa (zonder vastgoed) per inwoner
Bron: NBB
In e
uro
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Verzekeringen in pro mille van de gemiddelde uitgaven per huishouden
78/79 87/88 99 09
Leven 8,7 6,5 9,6 5,9
Woning 4,6 2,9 7,9 12,0
Gezondheid 3,3 6,4 7,0 8,7
Vervoer 17,4 22,9 18,6 17,4
Andere 2,9 3,1 3,5 6,4
37,0 50,0
Bron: Statbel
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Source : Scoreboard EU 25
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Source : Scoreboard EU26