Snapshot: Spain. For Lloyd s market use only. Worldwide Markets Intelligence & Development (WMID) November

Transcription

1 Snapshot: Spain Worldwide Markets Intelligence & Development (WMID) November For Lloyd s market use only

2 Spain spain 2

3 Insurance Environment 3

4 Insurance Environment: Various non-life premiums: growth vs. size ( ) 60% 50% Market premium growth (in %) 40% 30% 20% Mexico Spain Italy France UK Germany Reference USD 15bn Size of the bubble represents 2005 premium levels 10% 0% 0bn 10bn 20bn 30bn 40bn Market premium growth (in billlion USD) Source: Sigma, Non-Life Data, (2006); non-life direct gross premium 4

5 Insurance Environment: Country premium* as a proportion of global premium 8% Market share of total premiums (in % of total) 7% 6% 5% 4% 3% 2% 1% 7.0% 7.6% 6.7% 7.1% 4.0% 4.8% 2.9% 3.3% 1.7% 2.3% 0% Germany United Kingdom France Italy Spain Source: Sigma, Non-Life Data, (2006); *non-life direct gross premium 5

6 Insurance Environment: Density versus penetration levels (2005) Density = premium spent per capita (in USD) % Germany 3.6% 1312 United Kingdom 3.1% 3.1% % 2.7% France Spain Italy Italy 4% 3% 2% 1% 0% Penetration = premium as a proportion of GDP (in % of GDP) Density Penetration Source: Sigma, Non-Life Data, (2006) 6

7 Insurance Environment: Spain: non-life direct premiums (in billion USD) 40 Nominal market premiums (in billion USD) Non-Life direct premiums Source: Sigma, Non-Life Data, (2006); non-life direct gross premium 7

8 Insurance Environment: Spain: business class breakdown (2005) Property 20% PA & Healthcare* 20% Spain 2005: USD 35bn Miscellaneous 10% Liability 6% Motor 42% MAT 2% * Written by non-life companies Source: AXCO, Non-Life Report, (2006), Sigma, Non-Life Data, (2006); non-life direct gross premium 8

9 Insurance Environment: Spain: key market players (2005) 3,000 9% 2004 Premiums by market player (in million USD) 2,500 2,000 1,500 1, % 7% 5% 4% 4% 3% 3% 3% 3% 3% 8% 7% 6% 5% 4% 3% 2% 1% Market share (in % of total) 0 MAPFRE Mutualidad Allianz AXA Zurich Mutua Madrilena Automovilista Caser Winterthur MAPFRE Seguros Generales Adeslas Santa Lucia 0% Premiums Market share Source: AXCO, Non-Life Report, (2006), Sigma, Non-Life Data, (2006); non-life direct gross premium; market share based on total Sigma figures apportioned to AXCO 9

10 Lloyd s Business 10

11 Lloyd s Business: Various non-life premiums: growth vs. size ( ) 50% 40% Lloyd's premium growth (in %) 30% 20% 10% 0% -10% -20% Germany Spain France Italy UK Reference USD 100m Size of the bubble represents 2004 premium levels -30% -40% -100m 0m 100m 200m Lloyd's premium growth (in milllion USD) Source: Xchanging, (August 2006); premium figures are based on signed premiums year of account; direct and reinsurance gross premiums 11

12 Lloyd s Business: Lloyd s premium growth 10% Market premium real growth (annual changes in %) 5% 0% 2.5% -1.0% 4.5% 0.9% 4.8% 0.2% 3.3% 0.7% 7.6% 3.8% -5% Germany France United Kingdom Italy Spain Average 2005 Source: Xchanging, (August 2006); non-life direct gross premium; figures are based on signed premiums year of account; direct and reinsurance gross premiums 12

13 Lloyd s Business: Lloyd s total share of direct market 4.0% Lloyd's share of total direct premiums (in % of total) 3.5% 3.0% 2.5% 2.0% 1.5% 1.0% 0.5% 3.41% 2.84% 0.65% 0.55% 0.48% 0.42% 0.26% 0.19% 0.15% 0.18% 0.0% United Kingdom Italy France Spain Germany 2001 Lloyd's Share (DIRECT only) 2004 Lloyd's Share (DIRECT only) Source: Sigma, Non-Life Data, (2006); non-life direct gross premium; Xchanging, (August 2006); premium figures are based on signed premiums year of account; direct and reinsurance gross premiums 13

14 Lloyd s Business: Spain: non-life premiums (in million USD) 200 Gross premiums (in million USD) Gross signed premiums (in million USD) Source: Xchanging, (August 2006); premium figures are based on signed premiums year of account; direct and reinsurance gross premiums 14

15 Lloyd s Business: Spain: business class breakdown (2004) Marine 18% Property 14% Aviation 18% Spain 2004: USD 159m Motor 9% Casualty 34% Energy 5% Retro 2% Source: Xchanging, (August 2006); premium figures are based on signed premiums year of account; direct and reinsurance gross premiums 15

16 Lloyd s Business: Spain: top-five risk codes ( ) 30 Gross premiums by risk code in USD (m) Aviation - Liability Casualty - PI Casualty - A&H Property - All risks Marine - Cargo Source: Xchanging, (August 2006); premium figures are based on signed premiums year of account; direct and reinsurance gross premiums 16

17 Lloyd s Business: Spain: top-six brokers (2004) 75 Gross premiums by brokers (in million USD) Other Willis Aon Besso Marsh Bowood & Partners HSBC Source: Xchanging, (November 2006)*; premium figures are based on signed premiums year of account; direct and reinsurance gross premiums; * overall figure may therefore differ from August 2006 period 17

18 Lloyd s Business: Spain: business class mix by top-six brokers (2004) Willis Aon Besso Casualty 30% Marine 29% Casualty 21% Aviation 42% Marine 16% Casualty 100% Property 16% Property 12% Aviation 34% Marsh Bowood & Partners HSBC Marine 34% Aviation 15% Marine 40% Casualty 14% Property 10% Motor 88% Property 12% Aviation 3% Casualty 6% Property 43% Energy 35% Source: Xchanging, (November 2006); premium figures are based on signed premiums year of account; direct and reinsurance gross premiums 18

19 Disclaimer This document is intended for general information purposes only. Whilst all care has been taken to ensure the accuracy of the information Lloyd's does not accept any responsibility for any errors or omissions. Lloyd's does not accept any responsibility or liability for any loss to any person acting or refraining from action as the result of, but not limited to, any statement, fact, figure, expression of opinion or belief contained in this document. 19

20 20