Series prospectus commercial_non-life_insurance_brokers_global

Commercial Non-Life Insurance Brokers – Global Series Prospectus

© Finaccord Ltd., 2012

Expertise in financial services Web: www.finaccord.com. E-mail: [email protected] 1

Commercial Non-Life

Insurance Brokers Worldwide research across 25 countries

October 2012

http://www.finaccord.com/

mailto:[email protected]




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?

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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 investigate the size,

growth and structure of the market for broking of non-life insurance for businesses in 25 countries.

Brokers are the most important single distribution channel for commercial non-life insurance 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, 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 700 brokers around the world, 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.






Which countries are covered?

CountryMost recent

updateCountry

Most recent

updateCountry

Most recent

update

Australia Oct-12 France Jul-12 Russia Jul-12

Austria Jul-12 Germany Jul-12 South Africa Nov-12

Belgium Jul-12 Ireland Jul-12 Spain Jul-12

Brazil Dec-12 Italy Jul-12 Sweden Jul-12

Canada Nov-12 Netherlands Jul-12 Switzerland Jul-12

China Dec-12 Norway Jul-12 Turkey Jul-12

Czech Republic Jul-12 Poland Jul-12 UK Jul-12

Denmark Jul-12 Portugal Jul-12

Finland Jul-12 Romania Jul-12






What methodology has been used?

Finaccord’s investigation into commercial non-life insurance brokers is being carried out on an on-

going basis with the most recent cycle of research beginning in March 2012. The core of this research

is an analysis of leading brokers in each country that combines 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 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 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 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 in future years?






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 over a five-year period (either 2007-2011 or 2008-2012 depending

upon the date of publication); 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 either 2015 or 2016 (again

depending upon the date of publication).





Expertise in financial services Web: www.finaccord.com. E-mail: [email protected]

Country BrokerBroker network affiliation

/ strategic partnership

Total number of

employees, 2011

Commercial non-life

broking revenues, 2011

(EUR million)

In-country

ranking 2011

Product

specialism

France Diot EOS RISQ 810 82.97 7

France Draber-Neff Assurances 62 3.12 36

France Dufaud Assurances 28 4.48 32

France Dynassurances 21 2.25 46 Motor / fleet

France Eurodommages 27 1.92 50

7

What does the BrokerBASE™ deliver?

View broker network

affiliations / strategic

partnerships

See most recent

broker ranking by

revenues from

country in question

Select country

Select broker

Note - The BrokerBASE™ also includes each broker's website and UHC (ultimate holding company) if relevant, client

sector, client size and / or region, whether their transaction capability is purely offline, purely online or mixed, plus (for

most European countries) the broker's in-country ranking in 2007 for which data was published in previous research.

Source: Finaccord BrokerBASE™

Appreciate size of broking

revenues from commercial

non-life insurance






What does the market data annexe deliver?

COUNTRY X

1) Size, segmentation and growth of the commercial non-life insurance market, gross direct written premiums, 2007 to 2011

EUR million 2007 2008 2009 2010 2011Nominal

CAGRReal CAGR

Motor 700 691 707 669 707 0.2% -1.9%

Property 653 680 689 705 725 2.6% 0.4%

Liability 436 449 461 471 485 2.7% 0.5%

Legal expenses 282 294 311 322 331 4.1% 1.8%

MAT 131 129 123 125 129 -0.5% -2.6%

Other 437 452 452 483 496 3.2% 1.0%

Total 2,639 2,695 2,742 2,774 2,873 2.1% -0.1%

2) Size of the commercial non-life market, brokers' share of this market and revenues earned from it, 2007, 2011 and 2015

EUR million / % 2007 2011 2015

Nominal

CAGR

2007-2011

Nominal

CAGR

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%

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.






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 leading international brokers such as 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.






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 and five major non-European markets;

• utilise a single comprehensive source of information that deploys 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 leading brokers in each country, with coverage of competitors such as Arthur J. Gallagher,

Cabinet Bessé, GrECo International, Grupa MAK, Gruppo GPA, HUB International, Indwe Risk

Services, JLT, Lockton, Malakut, Meeùs, OAMPS Insurance Brokers, Renomia, Söderberg &

Partners, and Verspieren.






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 25 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 25 countries worldwide, saving time and effort on researching the

subject yourself.






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

Source: Finaccord analysis

32.9%

41.2%

48.3%

57.9%

0%

20%

40%

60%

80%

100%

2007 2011

Top 3 brokers Top 10 brokers

% share of commercial non-life insurance broking revenues






What are some of the key findings?

Source: Finaccord Commercial Non-Life Insurance Broking Survey

GrECo International, 19.0%

Broker A, 9.1%

Broker B, 3.9%

Broker C, 3.8%

Broker D, 3.7% Broker E, 2.7%

Broker F, 2.2%

Broker G,

2.0%

Broker H, 1.8%

Broker I, 1.7%

Other, 50.2%

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






What are some of the key findings? (cont.)

Revenues from commercial

non-life insurance broking

Brokers' share of commercial

non-life insurance premiums

100%

80%

60%

40%

20%

0%

2.5

2.0

1.5

1.0

0.5

0.0 2008 2012 2016

Broking revenues (USD billion) Brokers' share of premiums

3. In Australia, brokers dominate commercial non-life insurance distribution within

a market that is likely to have exceeded USD 2 billion in broking revenues in 2012

Source: Finaccord analysis






These reports about commercial non-life insurance brokers in different countries around the world

are available as standard Adobe Acrobat PDF documents and / or hard copies. The BrokerBASE™

datasets and market data annexes that accompany them at no further charge are in Microsoft

Excel format. Prices for each country are as follows:

* 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.

What are the prices?

Australia GBP 795 France GBP 595 Russia GBP 595

Austria GBP 595 Germany GBP 595 South Africa GBP 795

Belgium GBP 595 Ireland GBP 595 Spain GBP 595

Brazil GBP 795 Italy GBP 595 Sweden GBP 595

Canada GBP 795 Netherlands GBP 595 Switzerland GBP 595

China GBP 795 Norway GBP 595 Turkey GBP 595

Czech Republic GBP 595 Poland GBP 595 UK GBP 595

Denmark GBP 595 Portugal GBP 595

Finland GBP 595 Romania GBP 595

Commercial Non-Life Insurance Brokers in...






How can the research be purchased?

Simple. Just go to the relevant area of the Finaccord web site available at

www.finaccord.com/order_commercial_non-life_insurance_brokers_reports.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.



http://www.finaccord.com/order_commercial_non-life_insurance_brokers_reports.htm









Series prospectus commercial_non-life_insurance_brokers_global

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