PRESS RELEASE
Global Bancassurance: Strategies of the World's Top 125 Retail Banking Groups
Close to two thirds of the wor...
Media contact: Roberto Napolitano, +44 (0)20 3008 4406, rnapolitano@finaccord.com
Finaccord is a market research, publishi...
Ranking of the world's leading bancassurance groups by value
of premiums of captive and joint venture underwriters, 2012
N...
of 3

Press release global bancassurance_strategies of the world top 125 retail banking groups

PRESS RELEASE Global Bancassurance: Strategies of the World's Top 125 Retail Banking Groups Close to two thirds of the world's top 125 retail banking groups maintain captive or joint venture insurers among which Crédit Agricole is the largest by value of business underwritten London, 18 July 2013 - The total value of premiums written by captive and joint venture underwriters belonging to the world's leading retail banking groups is likely to have amounted to over USD 330 billion in 2012, according to a new research about global bancassurance strategies published by Finaccord. Based on an investigation into the consumer banking operations of the world's top 125 retail banking groups across 64 countries, Finaccord’s research established that across these groups, 52 (41.6%) own a captive underwriter (but no joint ventures) in at least one jurisdiction, 13 (10.4%) own at least one joint venture underwriter (but no captives) and 17 (13.6%) operate both captive and joint venture underwriters. The most prominent bancassurer in terms of the breadth of its geographical presence is BNP Paribas whilst by total value of premiums, Crédit Agricole is the world's largest bancassurance group reporting total business of USD 29.00 billion in 2012 (see table at end of press release). "When measured by the total value of premiums underwritten by captive and joint venture insurers, four of the ten largest bancassurance groups in the world originate in France”, comments Tobias Schneider, a Consultant at Finaccord. "All but two of the others in the top ten are European banking groups; the exceptions are Bradesco of Brazil, ranked fourth, which Finaccord understands to have one of the most profitable bancassurance units in the world, and South Korea's NongHyup Bank, ranked ninth, part of that country's National Agricultural Co-operative Federation." Finaccord's research also investigated which of the world's top 125 retail banking groups have established partnerships with external insurance providers that can be considered to be strategic. Among those researched, 52 (41.6%) have established a strategic partnership with an insurance provider, sometimes in the form of one or more joint ventures and sometimes in the form of a long-term distribution agreement not involving co-ownership. Across the 125 groups, Aviva is the insurance provider with the most partnerships that can be classified as strategic (with six), followed by Allianz, Prudential and Zurich with four each, and by Ageas, AXA, CNP Assurances and MAPFRE with three each.
Published on: Mar 4, 2016
Published in: Economy & Finance      Business      
Source: www.slideshare.net


Transcripts - Press release global bancassurance_strategies of the world top 125 retail banking groups

  • 1. PRESS RELEASE Global Bancassurance: Strategies of the World's Top 125 Retail Banking Groups Close to two thirds of the world's top 125 retail banking groups maintain captive or joint venture insurers among which Crédit Agricole is the largest by value of business underwritten London, 18 July 2013 - The total value of premiums written by captive and joint venture underwriters belonging to the world's leading retail banking groups is likely to have amounted to over USD 330 billion in 2012, according to a new research about global bancassurance strategies published by Finaccord. Based on an investigation into the consumer banking operations of the world's top 125 retail banking groups across 64 countries, Finaccord’s research established that across these groups, 52 (41.6%) own a captive underwriter (but no joint ventures) in at least one jurisdiction, 13 (10.4%) own at least one joint venture underwriter (but no captives) and 17 (13.6%) operate both captive and joint venture underwriters. The most prominent bancassurer in terms of the breadth of its geographical presence is BNP Paribas whilst by total value of premiums, Crédit Agricole is the world's largest bancassurance group reporting total business of USD 29.00 billion in 2012 (see table at end of press release). "When measured by the total value of premiums underwritten by captive and joint venture insurers, four of the ten largest bancassurance groups in the world originate in France”, comments Tobias Schneider, a Consultant at Finaccord. "All but two of the others in the top ten are European banking groups; the exceptions are Bradesco of Brazil, ranked fourth, which Finaccord understands to have one of the most profitable bancassurance units in the world, and South Korea's NongHyup Bank, ranked ninth, part of that country's National Agricultural Co-operative Federation." Finaccord's research also investigated which of the world's top 125 retail banking groups have established partnerships with external insurance providers that can be considered to be strategic. Among those researched, 52 (41.6%) have established a strategic partnership with an insurance provider, sometimes in the form of one or more joint ventures and sometimes in the form of a long- term distribution agreement not involving co-ownership. Across the 125 groups, Aviva is the insurance provider with the most partnerships that can be classified as strategic (with six), followed by Allianz, Prudential and Zurich with four each, and by Ageas, AXA, CNP Assurances and MAPFRE with three each. A number of the banking groups researched, including HSBC, ING Group, RBS Group and Santander, have been divesting previously captive insurance operations either wholly or in part for regulatory or strategic reasons. For example, as a condition of state financial support received by ING Group in previous years, the European Commission has demanded a number of changes to the group's structure including separation of its banking and insurance operations and divestment of its international insurance business over the course of the next five years. "Several banking groups had to be supported by public funds in the wake of the financial crisis and have been forced by regulators to sell their insurance units to compensate for the financial support received”, concludes Tobias Schneider. "In addition, new regulations concerning capital requirements and liquidity risks as decided by the Basel Committee on Banking Supervision in 2010 have led some banking groups to sell off insurance interests, in order to comply with the new rules. Naturally, these developments are among those that create significant strategic opportunities for insurance providers to enter into new long-term partnerships with banking groups." --- END ---
  • 2. Media contact: Roberto Napolitano, +44 (0)20 3008 4406, rnapolitano@finaccord.com Finaccord is a market research, publishing and consulting company specialising in financial services. It provides its clients with insight into and information about major issues in financial services in the UK, Europe and globally, with a particular focus on marketing and distribution topics such as affinity marketing, bancassurance and strategic alliances. Finaccord's research about bancassurance covers life, non-life and creditor insurance at a worldwide level. Some recent titles include: Global Bancassurance: Strategies of the World's Top 125 Retail Banking Groups Life Bancassurance in the Asia-Pacific Region: Investment-Related Life Insurance and Retirement Savings Life Bancassurance in the Asia-Pacific Region: Protection-Related Life Insurance Life Bancassurance in Europe: Investment-Related Life Insurance and Retirement Savings Life Bancassurance in Europe: Protection-Related Life Insurance Life Bancassurance in Latin America: Protection-Related Life Insurance Non-Life Bancassurance in Europe: Accident and Health Insurance Non-Life Bancassurance in Europe: Motor and Household Insurance Sample analyses from the research, showing respectively: the segmentation of the world's top 125 retail banking groups between those with captive underwriters, those with joint venture underwriters and those with both captive and joint venture underwriters; and the ranking of world's leading bancassurance groups by value of premiums of captive and joint venture underwriters in 2012. Source: Global Bancassurance Strategies PartnerBASE, Finaccord analysis Segmentation of 125 retail banking groups between those with captive underwriters, those with joint venture underwriters and those with both captive and joint venture underwriters, 2013 Captive underwriter(s), 41.6% Captive and joint venture underwriter(s), 13.6% Joint venture underwriter(s), 10.4% None, 34.4%
  • 3. Ranking of the world's leading bancassurance groups by value of premiums of captive and joint venture underwriters, 2012 Note: * denotes data for 2011. Source: annual reports, Finaccord analysis Rank Group Premiums (USD billion) 1 Crédit Agricole 29.00 2 ING Group 26.07 3 BNP Paribas 25.47 4 Bradesco 21.13 5 Crédit Mutuel 15.17 6 Lloyds Banking Group 13.13 7 Société Générale 13.09 8 HSBC 13.04 9 NongHyup Bank * 9.11 10 Intesa Sanpaolo 7.28 11 KBC Group 7.27 12 Groupe BPCE 7.10 13 Nordea Group 7.06 14 ANZ 6.21 15 RBS Group 5.89 16 BBVA 5.39 17 OCBC 5.29 18 Desjardins Group 5.13 19 Banco do Brasil * 4.93 20 UniCredit 4.79 Total of above 231.55 Other retail banking groups in world's top 125 105.46 Grand total 337.01

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