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Non-Life Bancassurance in Europe: Motor and Household InsuranceTable of Contents
The combined market value across the 20 countries is worth around EUR 138.3 billion Four countries account for around 60% of the total European market size for these two products Premiums per capita are highest in Switzerland and Norway Bancassurance is far more significant for household insurance than it is for motor policies Provision rates for both types of cover are highest in Turkey, but very low in Switzerland The most common way for banks to organise provision is via a single external underwriter Schemes underwritten on a captive basis are most common in the Netherlands The leading three pan-European bancassurance groups in this field are Allianz, AXA and Aviva The top eight underwriters account for a weighted share of partnerships of around 30%
What is this report about? Distribution partnerships with banks and other lending institutions constitute the focus of this study Rationale 60% of the banking organisations surveyed sell at least one of the products covered by this report Methodology Survey of banks and other lending institutions Market data Definitions Personal motor insurance Household insurance Weighted provider share of partnerships Operating models Abbreviations and exchange rates Finaccord
Introduction Market analysis – personal motor insurance Across the region, personal motor insurance generated premiums of around EUR 95 billion in 2010 Whereas Germany and Italy have the largest markets in absolute terms… …the most rapid growth is occurring in relatively young markets such as Romania and Russia Market analysis – household insurance The combined household insurance market was worth around EUR 44 billion in 2010 The UK has the largest, but not the most resilient, household insurance market in Europe Surging underlying mortgage markets lead to strong growth in Romania, Poland and Turkey Bancassurance analysis Provision rates and operating models for personal motor insurance The availability of personal motor insurance from banks is highest in Turkey and Russia Use of a single external underwriter constitutes the most regularly used operating model... …although the use of multiple providers is dominant in Russia, and also significant elsewhere Schemes underwritten on a captive basis are most common in Belgium and the Netherlands Within a weighted operating model analysis, captives and joint ventures take on added significance Provision rates and operating models for household insurance Banks in Turkey, Spain and Italy are those most likely to distribute household cover The single external underwriter operating model is used for more than half of all schemes… …and is the dominant operating model in 17 out of the 20 European countries analysed More than half of the programs identified in the Netherlands are underwritten on a captive basis Weighted analysis reveals the effects of some large retail banks having insurance subsidiaries Distribution share of bancassurance for personal motor insurance Finaccord’s analysis illustrates the influence of bancassurance on a standardised basis European banks do not play a very large role in the distribution of personal motor cover… …although the influence of bancassurance on this type of product is quite strong in Russia Distribution share of bancassurance for household insurance There is a natural platform for banks to cross-sell household insurance with mortgages …and this is strongest in Russia, where household cover is usually a part of mortgage-related policies Bancassurance is also a major channel for household cover in Portugal, Romania and Spain Pan-European bancassurance groups for personal motor insurance At a European level, the bancassurance market for personal motor cover is fairly unconcentrated Leading provider Allianz is present in more than half of the markets covered by the research… …and the bulk of Zurich’s weighted share comes from the activities of German subsidiary DA Direkt Crédit Agricole is the most significant captive bancassurer at a pan-European level Pan-European bancassurance groups for household insurance Eight leading groups account for around a third of bancassurance premiums for household cover Aviva ranks first for this type of cover, due mainly to its retail banking partnerships in the UK BGL Group has one of the most valuable distribution partnerships in Europe… …in the shape of UK mortgage-lending giant Santander
Banks and other lending institutions covered Introduction to the banking sector The banking system can be divided according to how banks operate at the national, regional and local level Austrian banks are expected to raise EUR 2.9 billion to meet new capital requirements Insurance market size and growth Household insurance gross written premiums have continued to grow at a moderate rate Distribution share of banks Bancassurance provision rates, operating models and partnerships Personal motor insurance Personal motor insurance is marketed by close to one third of institutions investigated UNIQA’s Raiffeisen Versicherung is the most prominent underwriter by weighted share of partnerships... ...followed by a captive and three joint ventures Many sizeable Austrian banking institutions do not bother trying to sell motor policies Household insurance s Versicherung and Raiffeisen Versicherung are the most prominent underwriters used by banks Erste Bank’s bancassurance partnership was renewed for another 15 years in 2008 Several banks, including Bank Austria and Hypo Alpe-Adria Bank, utilise captive brokers in this field Performance of key bancassurance underwriters The main bancassurers increased their share of total non-life insurance between 2006 and 2010... ...although their combined weighting in motor insurance fell back over the same period of time
Banks and other lending institutions covered Introduction to the banking sector Structurally, Belgium’s banking and insurance sectors are very closely linked Dexia’s banking and insurance operations were nationalised in October 2011 Insurance market size and growth The market for household insurance is growing more rapidly than that for personal motor cover Distribution share of banks The distribution share of banks in household insurance has increased steadily in recent years Bancassurance provision rates, operating models and partnerships Personal motor insurance The majority of personal motor policies distributed by banks are underwritten on a captive basis AG Insurance holds the highest weighted share of partnerships AXA is active in this market, as both a captive (to AXA Bank) and an external insurance partner Fidea Assurances and Mercator Verzekeringen each partner with one Crédit Agricole subsidiary Banque de la Poste - Bank van De Post is the largest banking institution with no arrangement in this field Household insurance The provision of household insurance by Belgian banks is similar to that for personal motor insurance... ...although ING Belgium utilises both its captive underwriter plus Mensura, an external partner... ...and Banca Monte Paschi Belgio is active in this field, but not in personal motor insurance Performance of key bancassurance underwriters On a combined basis, the market share in total non-life insurance of key Belgian bancassurers is stable... ...and is somewhat higher for total motor liability insurance... ...close to the aggregate for total non-life insurance for total motor damage insurance... ...and significantly higher for total property insurance
Banks and other lending institutions covered Introduction to the banking sector The Czech banking sector has remained stable during and in the aftermath of recent financial crises... ...although the rate of foreign ownership could lead to significant restructuring Insurance market size and growth As in most countries, household insurance is growing much faster than personal motor insurance Distribution share of banks Bancassurance provision rates, operating models and partnerships Personal motor insurance Most of the larger banks have elected not to distribute personal motor insurance... ...although Komerční Banka does, which is to the benefit of its partner, Česká pojišťovna Three captive brokers and one captive underwriter are active in this bancassurance field Household insurance All larger banks and mortgage lenders in the Czech Republic have an arrangement for household cover Kooperativa is used in this context by Česká Spořitelna and two other networks Allianz benefits from distribution partnerships with four banking entities for this type of cover Two major relationships are determined by international bancassurance agreements Performance of key bancassurance underwriters Underwriters with a focus on bancassurance gained ground in total non-life policies between 2006 and 2010 Only two bank-owned underwriters are active in motor insurance The growth of bancassurance is also evident in an analysis of total non-motor, non-life insurance
Banks and other lending institutions covered Introduction to the banking sector Seven of the largest ten banking institutions are indigenous to Denmark The Danish banking sector has changed significantly as a result of the financial crisis... ...and the number of lending institutions is expected to decrease further However, the four largest Danish banks remain comparatively healthy Insurance market size and growth Denmark’s market for household insurance has expanded at a comparatively rapid pace in recent years Distribution share of banks Bancassurance provision rates, operating models and partnerships Personal motor insurance A significant proportion of banking entities have an arrangement in place for motor insurance The strategic partnership established between Nordea and Tryg in 2002 is still in force... ...and Codan also benefits from a long-standing distribution arrangement with local savings banks Smaller deals are held by a range of other captive and non-captive underwriters Household insurance The main partnerships in this market were found to be fairly similar to those for personal motor insurance... ...although Privatsikring picks up an extra deal (with Ringkjøbing Landbobank) A number of quite significant banking institutions have no arrangement in place for household insurance Performance of key bancassurance underwriters The two underwriters with a close focus on the bank distribution channel are relatively minor players
Banks and other lending institutions covered Introduction to the banking sector Finland’s banking sector is relatively concentrated and dominated by OP-Pohjola and Nordea... ...albeit with competition from a range of other foreign-owned and co-operative / savings banks... ...plus S-Pankki, the banking arms of the S-Group retailing co-operative The Finnish banking system has a very low exposure to troubles elsewhere in Europe Insurance market size and growth Finland’s markets for both personal motor and household insurance continue to expand Distribution share of banks Bancassurance provision rates, operating models and partnerships Personal motor insurance Personal motor insurance is sold through six lending institutions in Finland... ...with six different underwriters used as providers in this context Nordea’s partnership with Tryg is driven by an agreement originally forged in 2002 Household insurance Exactly half of the banks and other lending institutions surveyed distribute household insurance Several distribution partnerships exist that are unique to this type of insurance Performance of key bancassurance underwriters Pohjola increased its market share in total motor insurance in every year from 2006 to 2010... ...and in each year from 2006 to 2009 for total property insurance
Banks and other lending institutions covered Introduction to the banking sector Insurance market size and growth Household insurance continues to outgrow personal motor insurance in France Distribution share of banks French banks continue to make steady progress in the distribution of non-life insurance Bancassurance provision rates, operating models and partnerships Personal motor insurance Captive and joint venture underwriters account for over a half of all partnerships identified Leading underwriters distributing through banks include BPCE Assurances, Pacifica and AVANSSUR ACM is used by both the CIC and Crédit Mutuel networks La Banque Postale Assurances IARD is a relatively new entrant to the market The research also identifies three insurance brokers, including a captive, as being active in this area Household insurance Household insurance is available from a third of the banking organisations surveyed Most banks use the same distribution partnerships for both household and motor insurance… …although Cetelem uses a separate underwriter for its household insurance proposition Performance of key bancassurance underwriters All bank-owned underwriters increased their share of total non-life insurance in France during 2010... ...with most also making progress in both motor and household insurance In these fields, insurers belonging to Crédit Agricole and Crédit Mutuel are the largest
Banks and other lending institutions covered Introduction to the banking sector In spite of some consolidation, Germany’s banking sector remains comparatively fragmented Many of the regional public sector banks have suffered during the financial crisis... ...although the savings banks are largely perceived by consumers to be safe institutions Taken as a whole, the co-operative banks possess the most retail branches in Germany Insurance market size and growth Gross written premiums for personal motor insurance rose in 2010 for the first time in four years Distribution share of banks The most recent evidence suggests the distribution share of banks in motor and household policies is rising Bancassurance provision rates, operating models and partnerships Personal motor insurance Around a half of German banks surveyed have an arrangement in place for personal motor insurance HUK24, Allianz and DA Direkt lay claim to the partnerships with the most apparent potential Several insurers distribute personal motor policies through subsidiary banks or building societies ERGO Direkt’s partnership with Valovis Bank originates from a previous joint venture 19 banks with more than one million retail clients have no scheme for personal motor insurance Household insurance The provision rate for household insurance is somewhat higher than that for personal motor cover By weighted share of partnerships, ERGO is ranked fourth thanks to its deal with HypoVereinsbank DEVK holds five partnerships, but all are with relatively small banking institutions Household insurance is absent from the product portfolio of several significant retail banks Performance of key bancassurance underwriters
Banks and other lending institutions covered Introduction to the banking sector Six major Irish banks have been reduced to three by the financial crisis... ...with foreign-owned banks making up the field The Irish League of Credit Unions has the largest customer base, spread across 400 entities Insurance market size and growth Ireland’s market for personal motor insurance has declined sharply since 2006 Distribution share of banks Bancassurance provision rates, operating models and partnerships Personal motor insurance Three underwriters possess banking sector partnerships for personal motor insurance Household insurance All the main banks and mortgage lenders offer household insurance AXA has an opportunity to increase its position if it can win EBS’s business following the merger with AIB Performance of key bancassurance underwriters
Banks and other lending institutions covered Introduction to the banking sector Four, or arguably five, retail banking groups lay claim to a genuinely nationwide network… … although these are being challenged by an array of ambitious regional competitors… … including the banche di credito cooperative and casse Raiffeisen… … as well as several insurer-owned banks and banks falling under foreign ownership Italy also plays host to a considerable number of specialised lending institutions Italy’s banking groups typically encapsulate a number of local or regional banking brands Insurance market size and growth Gross written premiums for personal motor insurance have been declining since 2007 Distribution share of banks Banks manage progress in property insurance, but struggle to make an impact in motor insurance Bancassurance provision rates, operating models and partnerships Personal motor insurance 50 of the banking institutions surveyed are active in the distribution of personal motor insurance By weighted share of partnerships, a captive and three joint ventures rank among the top five underwriters Other providers with important relationships include Assimoco, Aviva Assicurazioni and Direct Line... ...plus the three underwriting brands belonging to the Reale Mutua grouping Entities not distributing motor insurance include 17 with more than 250,000 retail customers Household insurance Most banking institutions offering household cover do so in conjunction with a single, external underwriter UniCredit persists with two bancassurance joint ventures for non-life insurance Other joint ventures are ABC Assicura, Avipop, AXA MPS, Credem Assicurazioni and UBI Assicurazioni As many as 25 different underwriters hold the status of an exclusive, non-captive provider Lending institutions that do not sell household insurance are mainly those that do not offer mortgages Performance of key bancassurance underwriters Carige Assicurazioni holds the highest market share of the bank-owned underwriters in motor insurance... ...and also in total property insurance
Banks and other lending institutions covered Introduction to the banking sector The Dutch state exerts a greater influence on the retail banking sector than foreign institutions... …and is likely to continue to do so until 2014 at least ING has reshaped itself greatly in recent years Several lending institutions have closed to new business Insurance market size and growth The Dutch market for personal motor and household insurance delivers virtually no growth Distribution share of banks Bank sales account for in excess of 20% of the total personal non-life insurance market Bancassurance provision rates, operating models and partnerships Personal motor insurance A dozen Dutch banks distribute personal motor insurance... ...mainly by means of captive or joint venture underwriters Household insurance A very similar picture emerges for household insurance Performance of key bancassurance underwriters Underwriters owned wholly or in part by banks account for well over 20% of total motor insurance... ... and in excess of 30% of total property insurance
Banks and other lending institutions covered Introduction to the banking sector Four, or arguably five, of the ten lending institutions are owned by foreign parents Two savings bank groups play an important role in Norway’s banking sector International financial crises have had a limited impact on Norway’s banking market Insurance market size and growth Norwegian insurers have pushed through higher prices for both personal motor and household insurance Distribution share of banks Bancassurance provision rates, operating models and partnerships Personal motor insurance Three out of the five leading underwriters selling policies through banks are captive entities Tryg continues to benefit from its long-term strategic alliance with Nordea Frende Forsikring is a joint venture established in 2007 by four independent savings banks Several independent savings banks are found to collaborate with Gjensidige Household insurance Partnerships in this area are almost identical to those used for personal motor insurance Performance of key bancassurance underwriters Underwriters with a strong bancassurance exposure see a rise in their combined market share... ...for both motor and property insurance
Banks and other lending institutions covered Introduction to the banking sector Eight of the top ten banking institutions (by number of retail cleints) are owned by foreign parents... ...and the Polish government maintains a significant stake in the largest bank, PKO Bank Polski Poland’s banking sector is characterised by significant merger and acquisition activity... ...with further changes in market structure likely to occur in future years Whilst comparatively strong, Poland’s banks are not immune to factors in the wider eurozone Insurance market size and growth The smaller market for household insurance grows far more quickly than that for personal motor cover Distribution share of banks From a very low base, Polish banks are establishing a foothold in non-life insurance ...and this trend is particularly relevant in relation to property insurance Bancassurance provision rates, operating models and partnerships Personal motor insurance Personal motor insurance is available from a significant number of banks and other lending institutions Blue Media runs online aggregation platforms for four banks Seven distributor banks collaborate with more than one underwriter for this form of insurance A number of sizeable banking institutions have no arrangement for personal motor cover Household insurance A wide range of operating models is used for the provision of household cover in Poland Europa holds several valuable bancassurance partnerships in this field Excluding captives and joint ventures, 11 underwriters compete for household insurance mandates Bank Zachodni WBK’s joint venture with Aviva was established in 2008 At least one distribution relationship is determined by an international bancassurance alliance Europa’s gross written premiums expanded rapidly between 2006 and 2010 Organisations not offering household insurance are mainly specialised lenders Performance of key bancassurance underwriters Europa grew its share of total non-life insurance consistently between 2006 and 2010
Banks and other lending institutions covered Introduction to the banking sector Insurance market size and growth Personal motor insurance declines whereas household insurance grows Distribution share of banks Banks achieved modest growth as a non-life insurance sales channel between 2008 and 2010 Bancassurance provision rates, operating models and partnerships Personal motor insurance Over a half of Portuguese banking entities have an arrangement for selling personal motor insurance By weighted share of partnerships, one captive provider and two joint ventures lead the field Insurers with smaller non-captive deals include AXA Seguros, MAPFRE and Zurich Crédit Agricole entered into its bancassurance joint venture with Banco Espírito Santo in 2006 Household insurance Many distribution relationships for home cover are the same as those for personal motor policies... ...although Liberty Seguros holds three partnerships uniquely for household insurance... ...and Lusitania claims one non-captive deal to supplement its captive relationship with Montepio Performance of key bancassurance underwriters Bank-owned insurers hold a far larger share of non-life policies than the bancassurance channel does
Banks and other lending institutions covered Introduction to the banking sector Insurance market size and growth Personal motor insurance makes up almost 95% of the combined total market Distribution share of banks Bancassurance provision rates, operating models and partnerships Personal motor insurance Just over a third of banking institutions in Romania sell personal motor insurance BCR Asigurari, owned by Vienna Insurance Group, benefits from its tie with Banca Comerciala Romana Many comparatively large banks have not yet launched personal motor insurance schemes Household insurance Groupama possesses three exclusive and two shared partnerships for household insurance Generali’s six exclusive relationships are with smaller banking institutions Only two banks that offer mortgages do not also intermediate household insurance Performance of key bancassurance underwriters In 2010, BCR Asigurari claimed a market share of total motor insurance of more than 9%... ...with the equivalent figure rising to well over 10% in the case of total property insurance
Banks and other lending institutions covered Introduction to the banking sector Banks owned ultimately by the state continue to exert a strong influence on Russia’s banking sector... ...with several foreign banks having decided to exit the market Russia’s banking sector has changed very significantly in recent years... ...with a new wave of merger and acquisition activity in evidence since 2008... ...and with further changes in the market structure likely to occur In spite of its problems, there is plenty of scope for the Russian retail banking market to grow Insurance market size and growth Personal motor insurance makes up over 95% of the combined total market Distribution share of banks Bancassurance is important as a distribution channel for both personal motor and household insurance Bancassurance provision rates, operating models and partnerships Personal motor insurance Provision rates are high because car finance customers must also take out motor insurance However, the supply structure is highly fragmented because most banks utilise multiple underwriters... ...meaning that the weighted share of partnerships of the market leader is less than 5% Several banks possess captive underwriters that are active in this field... ...although most are utilised as one of a long list of accredited insurers Just one joint venture underwriter is apparent in personal motor insurance in Russia Household insurance Household cover is available from almost all banks that are involved in mortgage lending... ...and is almost always bundled with creditor cover within mandatory mortgage-related policies VSK is the leading provider in terms of its weighted share of partnerships Banking institutions not offering household cover are mainly those not active in the mortgage market Performance of key bancassurance underwriters Bank-owned underwriters have gained market share in motor liability insurance... ...and have also performed strongly in property insurance Non-captive underwriters secure the most motor insurance business from the bancassurance channel
Banks and other lending institutions covered Introduction to the banking sector The end of the last decade saw a raft of mergers amid general economic uncertainty… …with more mergers and state take-overs expected Insurance market size and growth The value of the combined market hit a peak in 2008 before declining in subsequent years Distribution share of banks Whether measured by new or total sales, non-life bancassurance in Spain has grown in recent years... ...with this trend apparent for both motor insurance... ...and household ‘multi-risk’ insurance Bancassurance provision rates, operating models and partnerships Personal motor insurance Around two thirds of Spanish banks investigated dsitribute personal motor insurance... ...with most electing to do so via either one or more external underwriters Mutua Madrileña acquired a 50% stake in the non-life operations of La Caixa in July 2011 Línea Directa Aseguradora has been owned outright by Bankinter since 2009 30 banking institutions are not active in this field, although these are mainly smaller companies Household insurance Captive underwriters are more prominent in the household insurance sector By weighted share of partnerships, Caser is ranked first in this market... ...followed by Santander Seguros, BBVA Seguros and SegurCaixa In addition to SegurCaixa, several other joint ventures are also active in this area Allianz, AXA, Generali, Groupama, Liberty Seguros, MAPFRE and Zurich all hold sole provider deals... ...whereas Pelayo is limited to non-exclusive relationships only The banking institutions not offering household cover generally do not offer mortgages either Performance of key bancassurance underwriters Key bancassurance underwriters control more than a third of the total insurance market in Spain
Banks and other lending institutions covered Introduction to the banking sector In 2011, SBAB received permission to commence banking operations Swedbank either owns or collaborates closely with the majority of local savings banks Sweden’s banking sector remains in relatively good health Insurance market size and growth The combined market achieved a significant increase in premiums in 2010 Distribution share of banks Bancassurance provision rates, operating models and partnerships Personal motor insurance Tre Kronor Försäkring holds a preferred partnership with Swedbank and local savings banks Moderna Försäkringar is found to collaborate with both ICA Banken and Nordea Bank Household insurance Partnerships in this bancassurance sector are largely similar to those for personal motor insurance... ...although If Skadeförsäkring picks up unique deals with SBAB Bank and Sparbanken Öresund Performance of key bancassurance underwriters
Banks and other lending institutions covered Introduction to the banking sector The Swiss banking system can be segmented into four broad categories Perceived as ‘safe havens’, the cantonal banks have increased their market share in recent years The Clientis and Raiffeisen groupings are also significant in Swiss retail banking Postfinance is allowed to operate without a regular banking licence Insurance market size and growth Switzerland’s markets for both personal motor and household insurance continue to expand Distribution share of banks Bancassurance provision rates, operating models and partnerships Personal motor insurance Motor insurance is rarely available from banking entities in Switzerland Household insurance Cantonal insurers are dominant in the provision of buildings insurance in Switzerland... ...which reduces the scope for banks to market household policies The partnership between Helvetia and the Raiffeisen grouping has been in place since 1999 Performance of key bancassurance underwriters
Banks and other lending institutions covered Introduction to the banking sector Insurance market size and growth Household insurance makes up less than 10% of the combined total market Distribution share of banks Turkish banks prosper in property insurance, but struggle to make headway in motor insurance Bancassurance provision rates, operating models and partnerships Personal motor insurance Most banking institutions in Turkey have an arrangement in place for selling personal motor insurance AXA has established exclusive or shared partnerships with as many as seven banks In addition to Anadolu and Ziraat Sigorta, four other captive underwriters operate in this market Ageas acquired a 31% stake in Aksigorta during the first quarter of 2011 Household insurance AXA’s drive to create bancassurance partnerships in Turkey is also evident in household insurance Performance of key bancassurance underwriters Bank-owned captives and joint ventures accounted for over a third of total motor insurance in 2010... ...and also took a very significant share of the market for household insurance
Banks and other lending institutions covered Introduction to the banking sector The crisis of 2007 onwards forced many institutions to close, merge or be nationalised... ...with Santander as the only bank to emerge much stronger from the turmoil... ...while the Nationwide and the Yorkshire rescued several building societies in trouble New entrants are appearing, with 700 branches scheduled to change hands at the time of publication Insurance market size and growth The combined market increased in value by EUR 587 million between 2006 and 2010 Distribution share of banks For personal motor insurance, banks and building societies have found it increasingly hard to compete... ...and their influence in household insurance has come under pressure from at least two factors Bancassurance provision rates, operating models and partnerships Personal motor insurance Online aggregators make it difficult for banks to compete in personal motor insurance... ...which means that many have adopted a broker model to source a wider range of products... ...which has been to the benefit of two affinity brokers in particular The two leading underwriters by weighted share of partnerships are both subsidiaries of RBS American Express and HSBC have different product providers for standard and prestige policies Heath Lambert and Lloyd Latchford occupy niche positions in this market Tesco Underwriting has been launched with ambitious growth targets Household insurance Underwriting partners are stronger in household insurance than for personal motor cover Aviva (including Gresham Insurance) and BISL hold the largest weighted share of partnerships... ...while RSA has the higher outright number of partners, thanks to its alliances with building societies AXA Insurance is another company competing for bancassurance distribution mandates The supply structure for household insurance is comparatively fragmented... ...and several product providers lay claim to just one banking sector partner Aviva’s partnerships with Barclays and HSBC are planned to run up to 2015 and 2016 respectively Performance of key bancassurance underwriters For a variety of reasons, UK Insurance has suffered a rapid loss in market share in recent years
0.0 EXECUTIVE SUMMARY In most countries, gross written premiums for household insurance are growing more rapidly than those for personal motor cover Premiums per capita for personal motor and household insurance fluctuate greatly between European countries The countries with the lowest premiums per capita in 2010 were Turkey, Russia and Romania The combined bancassurance market for personal motor and household insurance is relatively unconcentrated 1.0 INTRODUCTION Banks and other lending institutions contacted by Finaccord, segmented by country and type 2.0 EUROPEAN OVERVIEW Provision rates for personal motor insurance through bancassurance in Europe, 2011 Operating models (unweighted) used for personal motor insurance in Europe, 2011 Operating models (unweighted) used for personal motor insurance in Europe, 2011 (data) Operating models (weighted) used for personal motor insurance in Europe, 2011 Operating models (weighted) used for personal motor insurance in Europe, 2011 (data) Provision rates for household insurance through bancassurance in Europe, 2011 Operating models (unweighted) used for household insurance in Europe, 2011 Operating models (unweighted) used for household insurance in Europe, 2011 (data) Operating models (weighted) used for household insurance in Europe, 2011 Operating models (weighted) used for household insurance in Europe, 2011 (data) Distribution share of bancassurance for personal motor insurance in Europe, 2011 Distribution share of bancassurance for household insurance in Europe, 2011 Weighted group share of bancassurance partnerships for personal motor insurance, re-weighted by country bancassurance market size, Europe Weighted group share of bancassurance partnerships for household insurance, re-weighted by country bancassurance market size, Europe 3.0 AUSTRIA Gross written premiums for personal motor and household insurance in Austria, 2006-2010 Gross written premiums for personal motor and household insurance in Austria, 2006-2010 (data) Bancassurance provision of personal motor insurance in Austria, 2011: provision rate, operating models and weighted provider share of partnerships Bancassurance provision of household insurance in Austria, 2011: provision rate, operating models and weighted provider share of partnerships Market share in total non-life insurance of key bancassurance underwriters in Austria, 2006-2010 (data) Market share in total motor insurance of key bancassurance underwriters in Austria, 2006-2010 (data) 4.0 BELGIUM Gross written premiums for personal motor and household insurance in Belgium, 2006-2010 Gross written premiums for personal motor and household insurance in Belgium, 2006-2010 (data) Distribution share of banks in total non-life, personal non-life, motor and household insurance in Belgium, 2006-2009 (data) Bancassurance provision of personal motor insurance in Belgium, 2011: provision rate, operating models and weighted provider share of partnerships Bancassurance provision of household insurance in Belgium, 2011: provision rate, operating models and weighted provider share of partnerships Market share in total non-life insurance of key bancassurance underwriters in Belgium, 2006-2010 (data) Market share in total motor liability insurance of key bancassurance underwriters in Belgium, 2009-2010 (data) Market share in total motor damage insurance of key bancassurance underwriters in Belgium, 2009-2010 (data) Market share in total property insurance of key bancassurance underwriters in Belgium, 2009-2010 (data) 5.0 CZECH REPUBLIC Gross written premiums for personal motor and household insurance in the Czech Republic, 2006-2010 Gross written premiums for personal motor and household insurance in the Czech Republic, 2006-2010 (data) Bancassurance provision of personal motor insurance in the Czech Republic, 2011: provision rate, operating models and weighted provider share of partnerships Bancassurance provision of household insurance in the Czech Republic, 2011: provision rate, operating models and weighted provider share of partnerships Market share in total non-life insurance of key bancassurance underwriters in the Czech Republic, 2006-2010 (data) Market share in total motor insurance of key bancassurance underwriters in the Czech Republic, 2006-2010 (data) Market share in total non-motor, non-life insurance of key bancassurance underwriters in the Czech Republic, 2006-2010 (data) 6.0 DENMARK Gross written premiums for personal motor and household insurance in Denmark, 2006-2010 Gross written premiums for personal motor and household insurance in Denmark, 2006-2010 (data) Bancassurance provision of personal motor insurance in Denmark, 2011: provision rate, operating models and weighted provider share of partnerships Bancassurance provision of household insurance in Denmark, 2011: provision rate, operating models and weighted provider share of partnerships Market share in total non-life insurance of key bancassurance underwriters in Denmark, 2006-2010 (data) 7.0 FINLAND Gross written premiums for personal motor and household insurance in Finland, 2006-2010 Gross written premiums for personal motor and household insurance in Finland, 2006-2010 (data) Bancassurance provision of personal motor insurance in Finland, 2011: provision rate, operating models and weighted provider share of partnerships Bancassurance provision of household insurance in Finland, 2011: provision rate, operating models and weighted provider share of partnerships Market share in total motor insurance of key bancassurance underwriters in Finland, 2006-2010 (data) Market share in total property insurance of key bancassurance underwriters in Finland, 2006-2010 (data) 8.0 FRANCE Gross written premiums for personal motor and household insurance in France, 2006-2010 Gross written premiums for personal motor and household insurance in France, 2006-2010 (data) Distribution share of banks in total non-life insurance in France, 2006-2010 (data) Bancassurance provision of personal motor insurance in France, 2011: provision rate, operating models and weighted provider share of partnerships Bancassurance provision of household insurance in France, 2011: provision rate, operating models and weighted provider share of partnerships Market share in total non-life insurance of key bancassurance underwriters in France, 2009-2010 (data) Market share in total motor insurance of key bancassurance underwriters in France, 2009-2010 (data) Market share in household insurance of key bancassurance underwriters in France, 2009-2010 (data) 9.0 GERMANY Gross written premiums for personal motor and household insurance in Germany, 2006-2010 Gross written premiums for personal motor and household insurance in Germany, 2006-2010 (data) Bancassurance provision of personal motor insurance in Germany, 2011: provision rate, operating models and weighted provider share of partnerships Bancassurance provision of household insurance in Germany, 2011: provision rate, operating models and weighted provider share of partnerships 10.0 IRELAND Gross written premiums for personal motor and household insurance in Ireland, 2006-2010 Gross written premiums for personal motor and household insurance in Ireland, 2006-2010 (data) Bancassurance provision of personal motor insurance in Ireland, 2011: provision rate, operating models and weighted provider share of partnerships Bancassurance provision of household insurance in Ireland, 2011: provision rate, operating models and weighted provider share of partnerships 11.0 ITALY Gross written premiums for personal motor and household insurance in Italy, 2006-2010 Gross written premiums for personal motor and household insurance in Italy, 2006-2010 (data) Distribution share of banks in total non-life, motor and property insurance in Italy, 2006-2010 (data) Bancassurance provision of personal motor insurance in Italy, 2011: provision rate, operating models and weighted provider share of partnerships Bancassurance provision of household insurance in Italy, 2011: provision rate, operating models and weighted provider share of partnerships Market share in total motor insurance of key bancassurance underwriters in Italy, 2006-2010 (data) Market share in of key bancassurance underwriters in total property insurance in Italy 2006-2010 (data) 12.0 NETHERLANDS Gross written premiums for personal motor and household insurance in the Netherlands, 2006-2010 Gross written premiums for personal motor and household insurance in the Netherlands, 2006-2010 (data) Distribution share of banks in personal non-life, personal motor, household buildings and household contents insurance in the Netherlands, 2008 and 2010 (data) Bancassurance provision of personal motor insurance in the Netherlands, 2011: provision rate, operating models and weighted provider share of partnerships Bancassurance provision of household insurance in the Netherlands, 2011: provision rate, operating models and weighted provider share of partnerships Market share in total motor insurance of key bancassurance underwriters in the Netherlands, 2006-2009 (data) Market share in total property insurance of key bancassurance underwriters in the Netherlands, 2006-2009 (data) 13.0 NORWAY Gross written premiums for personal motor and household insurance in Norway, 2006-2010 Gross written premiums for personal motor and household insurance in Norway, 2006-2010 (data) Bancassurance provision of personal motor insurance in Norway, 2011: provision rate, operating models and weighted provider share of partnerships Bancassurance provision of household insurance in Norway, 2011: provision rate, operating models and weighted provider share of partnerships Market share in total motor insurance of key bancassurance underwriters in Norway, 2006-2010 (data) Market share in total property insurance of key bancassurance underwriters in Norway, 2006-2010 (data) 14.0 POLAND Gross written premiums for personal motor and household insurance in Poland, 2006-2010 Gross written premiums for personal motor and household insurance in Poland, 2006-2010 (data) Distribution share of banks in total non-life and accident and property insurance in Poland, 2006-2010 (data) Bancassurance provision of personal motor insurance in Poland, 2011: provision rate, operating models and weighted provider share of partnerships Bancassurance provision of household insurance in Poland, 2011: provision rate, operating models and weighted provider share of partnerships Market share in total non-life insurance of key bancassurance underwriters in Poland, 2006-2010 (data) 15.0 PORTUGAL Gross written premiums for personal motor and household insurance in Portugal, 2006-2010 Gross written premiums for personal motor and household insurance in Portugal, 2006-2010 (data) Distribution share of banks in total non-life insurance in Portugal, 2008-2010 (data) Bancassurance provision of personal motor insurance in Portugal, 2011: provision rate, operating models and weighted provider share of partnerships Bancassurance provision of household insurance in Portugal, 2011: provision rate, operating models and weighted provider share of partnerships Market share in total non-life insurance of key bancassurance underwriters in Portugal, 2006-2009 (data) 16.0 ROMANIA Gross written premiums for personal motor and household insurance in Romania, 2006-2010 Gross written premiums for personal motor and household insurance in Romania, 2006-2010 (data) Bancassurance provision of personal motor insurance in Romania, 2011: provision rate, operating models and weighted provider share of partnerships Bancassurance provision of household insurance in Romania, 2011: provision rate, operating models and weighted provider share of partnerships Market share in total motor insurance of key bancassurance underwriters in Romania, 2006-2010 (data) Market share in total property insurance of key bancassurance underwriters in Romania, 2006-2010 (data) 17.0 RUSSIA Gross written premiums for personal motor and household insurance in Russia, 2006-2010 Gross written premiums for personal motor and household insurance in Russia, 2006-2010 (data) Bancassurance provision of personal motor insurance in Russia, 2011: provision rate, operating models and weighted provider share of partnerships Bancassurance provision of household insurance in Russia, 2011: provision rate, operating models and weighted provider share of partnerships Market share in total motor liability insurance of key bancassurance underwriters in Russia, 2006-2010 (data) Market share in total property insurance of key bancassurance underwriters in Russia, 2006-2010 (data) 18.0 SPAIN Gross written premiums for personal motor and household insurance in Spain, 2006-2010 Gross written premiums for personal motor and household insurance in Spain, 2006-2010 (data) Distribution share of banks in total non-life insurance in Spain, 2006-2009 (data) Distribution share of banks in total motor insurance in Spain, 2006-2009 (data) Distribution share of banks in household ‘multi-risk’ insurance in Spain, 2006-2009 (data) Bancassurance provision of personal motor insurance in Spain, 2011: provision rate, operating models and weighted provider share of partnerships Bancassurance provision of household insurance in Spain, 2011: provision rate, operating models and weighted provider share of partnerships Market share in total life and non-life insurance of key bancassurance underwriters still active and mentioned / covered by the research in Spain, 2008-2010 (data) Market share in total life and non-life insurance of key bancassurance underwriters no longer active and / or not mentioned / covered by the research in Spain, 2008-2010 (data) 19.0 SWEDEN Gross written premiums for personal motor and household insurance in Sweden, 2006-2010 Gross written premiums for personal motor and household insurance in Sweden, 2006-2010 (data) Bancassurance provision of personal motor insurance in Sweden, 2011: provision rate, operating models and weighted provider share of partnerships Bancassurance provision of household insurance in Sweden, 2011: provision rate, operating models and weighted provider share of partnerships 20.0 SWITZERLAND Gross written premiums for personal motor and household insurance in Switzerland, 2006-2010 Gross written premiums for personal motor and household insurance in Switzerland, 2006-2010 (data) Bancassurance provision of personal motor insurance in Switzerland, 2011: provision rate, operating models and weighted provider share of partnerships Bancassurance provision of household insurance in Switzerland, 2011: provision rate, operating models and weighted provider share of partnerships 21.0 TURKEY Gross written premiums for personal motor and household insurance in Turkey, 2006-2010 Gross written premiums for personal motor and household insurance in Turkey, 2006-2010 (data) Distribution share of banks in total non-life, motor and property insurance in Turkey, 2008-2010 (data) Bancassurance provision of personal motor insurance in Turkey, 2011: provision rate, operating models and weighted provider share of partnerships Bancassurance provision of household insurance in Turkey, 2011: provision rate, operating models and weighted provider share of partnerships Market share in total motor insurance of key bancassurance underwriters in Turkey, 2006-2010 (data) Market share in household insurance of key bancassurance underwriters in Turkey, 2006-2010 (data) 22.0 UNITED KINGDOM Gross written premiums for personal motor and household insurance in the UK, 2006-2010 Gross written premiums for personal motor and household insurance in the UK, 2006-2010 (data) Distribution share of banks in personal motor and household insurance in the UK, 2005, 2007 and 2009 (data) Bancassurance provision of personal motor insurance in the UK, 2011: provision rate, operating models and weighted provider share of partnerships Bancassurance provision of household insurance in the UK, 2011: provision rate, operating models and weighted provider share of partnerships Market share in total non-life insurance of key bancassurance underwriters in the UK, 2006-2010 (data)
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