DOCSLIB.ORG

Unipol Group Presentation

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Unipol Group Presentation UNIPOL GROUP PRESENTATION March 2006 1 Agenda II Introduction:Introduction: Unipol Unipol Group Group highlights highlights and and history history II Unipol Groups: results III Unipol Banca and the integrated network model 2 The Unipol Group - Overview X Founded in 1963, and having commenced activities in 1968, the Unipol Group today ranks fourth in the Italian insurance market in terms of premium income. X Operating not only in the traditional Life and Non-Life insurance business sectors, but also in the supplementary pension and health schemes sectors, Unipol recorded an aggregate income from insurance business of over €10.7bn in 2005, of which: 63% in Life business (of which 55%from bancassurance companies) 37% in Non—Life business (of which over 60% in Motor business) X In 2005 around 45% of the Group’s Life insurance income derived from BNL Vita, a 50% joint venture between Unipol and BNL. X Thanks to a distribution network of almost 1,800 agencies and 4,500 sales points, the Group operates throughout Italy with around 6.5 million customers, also by way of innovative distribution channels, such as the internet and telephone (through its subsidiary Linear, one of the leading companies in this sector) X As from 1999 and following a precise strategic growth plan, the Group entered the banking business by acquiring a small credit institution which had 13 branches, and was subsequently renamed Unipol Banca. X Unipol Banca today has 250 branches throughout Italy; it is characterized by considerable growth rates and, above all, by the peculiar and successful development of the distribution network, based on the integration of banking branches and insurance agencies. 3 Strategic Agreement Unipol Group – BNP Paribas Group X On february 3rd, 2006 Unipol Assicurazioni and BNP Paribas reached an agreement for the disposal of 48% of BNL share capital held by the Company and its financial partners, at € 2,925 per share. X Once acquired the aforesaid shares, BNP Paribas will launch a public tender offer on 100% of BNL at the same price offered to Unipol and its financial partners. X Unipol will acquire 1% of BNL Vita share capital from BNL and will strenghten important commercial agreements with BNL, expecially in the bancassurance sector. X Unipol will become BNP Paribas’ privileged insurance partner in Italy, developing a strategic cooperation, expecially focused on: Non-Life Insurance; Supplementaty Pension Schemes. X BNP Paribas will acquire a 4,5% stake in the share capital of FINSOE. X The suspensive conditions assuring the financial efficacy of the agreement are the following: Approval of the agreement by BoD of the companies involved (already held); MTO launched by Unipol lapsing or becoming ineffective (already occurred – see Consob notice dated february 9th, 2006); All relevant Authorities giving any furhter authorisations or approvals as deemed necessary for BNP Paribas acquiring control over BNL. 4 The Unipol Group today * Group Holding INSURANCE BUSINESS BANCASSURANCE BUSINESS BANKING, ASSET MANAGEMENT AND MERCHANT BANKING COMPANY BUSINESS/CHANNEL COMPANYBUSINESS / CHANNEL COMPANY BUSINESS / CHANNEL Bank / branches, ** Non-Life + Life / agencies Life / BAM branches Fin. counters, (MPS Group) Fin. advisers Non-Life + Life / agencies Life / BNL branches Mutual funds / Unipol Banca Merchant banking Motor / telephone, and medium-term loans internet Health / agreements, Asset management internet Non-exclusive agents / brokers * Operating company and parent company. ** Unipol Assicurazioni also sells its Life products through Unipol Banca outlets. 5 Shareholding structure STRATEGIC PARTNERS HOLMO MPS Group HOPA P&V Group JP MORGAN (BE) (USA) 60.7% 27.8% 5.4% 4.6% 1.42% MARKET Core shareholder 49.8 % of 100 % of Stake of stable ordinary shares shareholding: 50.2% of preference shares ordinary shares (32% of total capital) 899,619,864 1,460,524,546 preference shares Preference Ordinary ordinary shares (62% of total capital) (38% of total capital) shares shares Total number of UNIPOL ASSICURAZIONI shares, as at today’s date: 2,360,144,410 6 Ranking in the insurance sector (2004) NON-LIFE PREMIUMS (€/m) LIFE PREMIUMS (€/m) TOTAL PREMIUMS (€/m) Fondiaria - 6,990 19.7% Sai Generali 16,540 25.2% Generali 22,344 22.1% Generali 5,804 16.4% Allianz Ras 8,501 13.0% Allianz Ras 13,992 13.8% Allianz Ras 5,491 15.5% Unipol 5,718 8.7% Unipol 9,723* 9.6% Fondiaria - Unipol 4,005 11.3% Cattolica 3,381 5.2% 9,677 9.6% Sai Fondiaria - Toro 2,254 6.4% 2,687 4.1% Cattolica 4,779 4.7% Sai Reale 1,767 5.0% Mutua Zurigo 797 1.2% Toro 2,733 2.7% Reale Cattolica 1,398 3.9% Axa 679 1.0% 2,284 2.3% Mutua Reale Zurigo 1,341 3.8% 517 0.8% Zurigo 2,138 2.1% Mutua Axa 1,200 3.4% Toro 479 0.7% Axa 1,879 1.9% Sara 775 2.2% Sara 106 0.2% Sara 881 0.9% = Market share * Including premium income of the Mutuelles du Mans Assurance Group 7 Distribution networks as at 2005 Bank Insurance UNIPOL Banca network Unipol Group agency network 2 24 33 4 30 7 313 141 43% 8 52% 136 55 195 8 52 134 25 9 59 7 32 39 31% 4 25% 169 34 10 12 9 98 87 11 1 48 14 45 25% 23% 31 108 9 250 branches (129 of which are co-located with insurance 9 1,741 agencies agencies) 9 ~ 4,500 sales points 9 45 financial counters 9 6.3 million customers 9 300,000 customers 9 Capillary presence 9 Network growing strongly throughout Italy 9 Presence throughout 9 Presence in all the main Italy according to ‘spotted’ towns model 9 High average number of customers per agency 8 1999-2004 - Insurance business trend ACQUISITIONS - 2000 ACQUISITIONS- 2003 ACQUISITIONS - 2004 Acquired 100% of MMI Group from Mutuelles du Mans Assurances §(premiums €140mn) Acquired Acquired Vendor company share MERGER - 2004 51.4% TELECOM Credit + 90% (PTO) on 23.1% Market Suisse Total premiums: ~ €3,300m GENERALI Total premiums: €1,931m 100% Total assets: ~ €9,800m Total asset : €5,971m 98.2% GENERALI s Total invested: €1,319m 50% GENERALI Total premiums: €2,234m Total assets : €6,300m 35% /05:+ Total invested: €812m R 99 CAG > 10,700* 9,723 7,463 1,812 4,291 1999 2000 2003 2004 2005 Prec. Group premiums the Group ranks 8th (Italian GAAP, €/m) the Group ranks 3rd * 8,2 €/bn IAS/IFRS compliant (2.9% market share) (9.6% market share) Total investments: €2,189m IN 6 YEARS THE GROUP SIZE Total acquired premiums : €4,305m HAS INCREASED 6-FOLD Total acquired customers: 3,200,000 9 Integration of the main companies acquired Acquisition Merger Acquisition Merger + + 2000 2003 Centralizing finance 2004 and real estate Restructuring and management Total premiums: reorganization Total premiums: Total premiums: €1,044m €1,238m Restructuring the €3,276m IT migration to supply chain Life premiums / Unipol system Life premiums / Life Premiums / Extension of Unipol Total premiums: Centralizing key Total premiums: Total premiums: 23.4% 34.3% IT system to 34.5% functions Winterthur Agencies: Streamlining Agencies: Agencies: 718 502 Streamlining human 1,243 portfolio and resources Combined ratio: rationalizing sales Combined ratio: Combined ratio: 112.8% network 95.6% Implementing 92.4% restructuring Tech. account Claims handling at Tech. account process Tech. account (Non-Life + Life): Group level (Non-Life + Life): (Non-Life + Life): -€18.4m €43.5m One claims €221m settlement system only Net profit/loss Net profit Net profit €38.3m €145m -€13.1m (+27% over 2002) (+12% over 2003) Return on invested equity in the 2003 2004 acquisitions of Meie, Aurora and Winterthur 5.19% 7.56% 10 Agenda I Introduction: Unipol Group highlights and history II II UnipolUnipol Groups: Groups: results results III Unipol Banca and the integrated network model 11 Consolidated Key Financials PREMIUMS – DIRECT BUSINESS* MARKET SHARES COMBINED RATIO Italian GAAP (€/m) ~10,700 96.0% 9,583 ~ 6,800 11.0% 10,9% 10,9% 95.5% 95.5% 7,463 5,717 10.0% 95.0% 4,650 3,866 ~4,000 8,7% 9,0% 9.0% 94.5% 2,813 8,2% 94.0% 8.0% 93.5% 93.2% 93.2% 7.0% 7,4% 93.0% 2003 2004 2005 Prel. 2003 2004 2005 Prel. 2002 2003 2004 Non-Life Life N-L Life TOTAL INVESTMENTS CUSTOMER DEPOSITS (BANK) NET PROFIT (INSURANCE) (€/bn) (€/m) (€/m) 29 > 4,800 26 244 2,628 (IAS/IFRS) 18 2,228 In line 211 with 2004 (Ital. 147 GAAP) 2002 2003 2004 2002 2003 2005 Prel. 2003 2004 2005 Prel. (Italian GAAP) (IAS/IFRS) * The figures corrspond to the Premium Income according to the Italian GAAP, in force until 2004. 12 Results as at 3Q 2005: key financials (IAS compliant) INSURANCE INCOME COMBINED RATIO TECHNICAL PROVISIONS DIRECT BUSINESS (italian GAAP) €/m €/m +9.6% 6,121 94.9% 96.5% 21,277 5,587 +15% 2,763 2,731 23.0% 23.4% 18,491 2,856 3,358 71.9% 73.0% 9 M 2004 9 M 2005 9 M 2004 9 M 2005 F.Y. 2004 9 M 2005 Life premiums Non-Life premiums and inv.nt products Loss Ratio Expense Ratio GROUP PROFIT INVESTMENTS NET GROUP PROFIT by business €/m €/m +13.6% 32,462 28,577 273 11 (36) 58 273 +72% 241 159 . F. Y. 2004 9 M 2005 9 M 2004 9 M 2005 n Life P&C king Total n Elimi Ba Interbus. dealings 13 Results as at 30 September 2005 Summary of consolidated Profit and Loss Account FIGURES FIGURES AS AT OF 30 3rd 30 September September Quarter €/m 2005 2004 2005 INCOME Net premium income 5.685 4.559 1.581 Fees and commissions receivable 95 82 39 Net income from financial instruments at fair value through profit or loss 441 395 171 Income from shareholdings in subsidiaries, affiliated companies and joint ventures 15 4 (1) Income from other financial instruments and investment property 589 359 169 Other income 60 68 38 Total income 6.885 5.466 1.996 CHARGES Net claims charges (5.323) (4.171) (1.463) Fees and commissions payable (26) (15) (20) Charges from shareholdings in subsidiaries, affiliated companies and joint ventures (3) (0) (3) Charges from other financial instruments and investment property (178) (153) (71) Operating expenses (832) (760) (266) Other charges (45) (82) (16) Total charges (6.408) (5.182) (1.839) Profit (loss) before taxation 478 284 157 Taxation (176) (110) (75) Consolidated profit (loss) 302 175 82 Profit (loss) - Minority interests 29 16 10 Profit (loss) - Group 273 159 72 Figures as at 30 September 2004 result from reasonable and coherent estimates.
Load more

Recommended publications
  • Unipol Gruppo S.P.A. and Unipolsai Assicurazioni S.P.A. Insurer Financial Strength BBB Unipolsai Assicurazioni S.P.A
    Insurance Composite Italy Ratings Unipol Gruppo S.p.A. Insurer Financial Strength BBB Long-Term Foreign Currency IDR BBB- Unipol Gruppo S.p.A. and UnipolSai Assicurazioni S.p.A. Insurer Financial Strength BBB UnipolSai Assicurazioni S.p.A. Long-Term Foreign Currency IDR BBB- Outlooks Insurer Financial Strength Stable Long-Term Foreign Currency IDR Stable Financial Data Key Rating Drivers Unipol Gruppo S.p.A. Exposed to Italian Asset Risk: The ratings of Unipol Gruppo S.p.A. and UnipolSai Assicurazioni (EURm) Dec 19 Dec 18 S.p.A. (together Unipol) reflect the group’s strong underlying insurance financial performance Total assets 75,112 76,599 and adequate and resilient capitalisation. These elements are offset by the concentrated, Total equity 8,305 6,327 although reduced, exposure to Italian sovereign debt – Italy’s Long-Term Foreign-Currency Net written premiums 13,443 11,628 Issuer Default Rating (IDR) is ‘BBB-’/Stable. Unipol held EUR27 billion, or 3.3x consolidated shareholders’ equity, Italian sovereign debt at end-2019 (end-2019: 3.5x, end-2018: 4.0x). Net income 903 401 Solvency II (%) 187 163 Strong Underlying Insurance Profitability: Fitch Ratings assesses the profitability of Unipol’s Note: Reported on a yearly basis insurance activities as strong. The Fitch-calculated non-life combined ratio improved to 93% in Source: Fitch Ratings, company data 2019 (94% in 2018) and dropped to 82% in 1H20 following the reduced claims frequency due to the lockdown period in Italy. Fitch expects an improvement in Unipol’s reported results in 2020 as a result of the lower claims experience.
    [Show full text]
  • Unipol E Unipolsai, Nuovi Cda E Nuove Ambizioni Groupama, Aumento Per
    VENERDÌ 19 APRILE 2019 N. 1534 COMPAGNIE PRIMO PIANO Groupama, Unipol e UnipolSai, aumento nuovi cda e nuove ambizioni Concluse le assemblee dei soci che hanno riconfermato gli attuali per l’Italia vertici. Parlando a margine dell’assembla, Carlo Cimbri ha dato alcune Il consiglio di amministra- anticipazioni sul prossimo piano industriale (presentazione il 10 maggio) zione di Groupama Holding e sulla partecipazione in Bper Filiali e Partecipazioni ha deli- berato un aumento di capita- In attesa della presentazione del nuo- le per Groupama Assicurazio- vo piano industriale, che sarà comunicato il ni di 250 milioni di euro. Con prossimo 10 maggio, le assemblee dei soci di questa operazione, il capita- UnipolSai e Unipol hanno rinnovato i rispettivi le della compagnia passa a consigli di amministrazione e dato il via libera 492.827.400 euro. L’aumento ai dividendi. di capitale sarà sottoposto Per quanto riguarda UnipolSai, la cui as- all’approvazione dall’assem- semblea si è svolta il 17 aprile a San Lazzaro blea che si terrà il prossimo di Savena, la compagnia ha chiuso l’esercizio 29 aprile. 2018 con un utile netto civilistico di 412,8 mi- “Sono particolarmente lioni di euro. L’assemblea, che ha deliberato fiero di questo risultato – ha un dividendo di 0,145 euro per azione (la ce- commentato in una nota Pier- dola sarà staccata il 20 maggio) ha anche no- re Cordier, amministratore de- minato i componenti del consiglio di amministrazione per i tre esercizi 2019, 2020 e 2021. legato e direttore generale di Sulla base dell’unica lista presentata dal socio di maggioranza (cioè il gruppo Unipol), Groupama Assicurazioni – che l’assemblea ha stabilito in 18 il numero dei componenti del board, di cui Carlo Cimbri con- attesta chiaramente il suppor- serva la carica di presidente, con Fabio Cerchiai e Pierluigi Stefanini nel ruolo di vice presi- to del nostro azionista rispetto denti.
    [Show full text]
  • Unipol Gruppo S.P.A. (“Unipol” Or the “Company”) Hereby Announces the Final Results of Its Invitation to Tender Its Outstanding €500,000,000 4.375 Per Cent
    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED) OR IN OR INTO OR TO ANY PERSON LOCATED AND RESIDENT IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS DOCUMENT. UNIPOL ANNOUNCES THE RESULTS OF ITS TENDER OFFER IN RESPECT OF ITS OUTSTANDING 2021 NOTES Bologna, 21 September 2020 Further to the notice dated 14 September 2020, Unipol Gruppo S.p.A. (“Unipol” or the “Company”) hereby announces the final results of its invitation to tender its outstanding €500,000,000 4.375 per cent. Notes due 5 March 2021 (ISIN Code: XS1041042828) for purchase by the Company (the “Invitation” and the “Outstanding Notes” or the “Notes”) pursuant to the tender offer memorandum (the “Tender Offer Memorandum”) dated 14 September 2020. Capitalised terms used but not defined herein have the meaning ascribed to them in the Tender Offer Memorandum unless otherwise stated. As at 18 September at 17.00 CEST, being the Invitation Expiration, the aggregate principal amount of all Notes tendered was Euro 86,471,000 representing approximately 27.25% of the aggregate principal amount of the Outstanding Notes, equal to Euro 317,352,000. The Invitation is subject to (i) the successful completion, at Unipol's sole discretion, of the issuance of the New Notes placed on 16 September 2020 (the “New Notes”), as announced by the Company in a press release on the same date (the “New Issue Condition”) or (ii) its waiver of the New Issue Condition.
    [Show full text]
  • Global 500 2014 the World’S 500 Largest Mutual and Cooperative Insurers
    icmif FINANCIAL INSIGHTS International Cooperative and Mutual Insurance Federation Global 500 2014 The world’s 500 largest mutual and cooperative insurers INCLUDING THE GLOBAL 500 BY COUNTRY | THE GLOBAL 500 BY ORGANIZATIONAL STRUCTURE THE GLOBAL 500 BY LONGEVITY | FASTEST-GROWING MUTUAL AND COOPERATIVE INSURERS www.icmif.org 2 | GLOBAL 500 | 2014 Global 500 2014 The global mutual and cooperative insurance sector in 2014 MUTUAL AND COOPERATIVE PREMIUM PREMIUM GROWTH (2007-2014) INCOME (USD TRILLIONS) +13.6% Total market +29.6% Mutual/cooperative market 0.99 1.09 1.11 1.17 1.25 1.25 1.27 1.29 2007 2008 2009 2010 2011 2012 2013 2014 Mutual and cooperative insurers in 2014 collectively represented... USD 8.3 1.11 955 trillion million million in total assets employees members/policyholders Global mutual/cooperative market share TOTAL LIFE NON-LIFE 27.0% 24.3% 30.4% GLOBAL 500 | 2014 | 1 INTRODUCTION: THE GLOBAL 500 This report, the Global 500, is the outcome of the latest statistical research conducted by the International Cooperative and Mutual Insurance Federation (ICMIF) on the global mutual and cooperative insurance sector. The Global 500 report features an analysis of the world’s 500 largest mutual and cooperative insurers ranked by premium income, using 2014 year-end data. This is the eighth edition of the report, published annually alongside Global Mutual Market Share, ICMIF’s market intelligence report on the size and financial performance of the global mutual and cooperative1 (hereafter referred to as “mutual”) insurance industry. The world’s 500 largest mutual insurance companies in terms of premium revenue (referred to in the report as the Global 500), collectively wrote USD 1,221 billion in insurance premiums in 2014, representing 95% of the total global mutual sector (USD 1,286 billion).
    [Show full text]
  • Investor Signatories to CDP's 2021 Request
    Investor Signatories to CDP’s 2021 Request Signatory Country Type 1919 Investment Counsel United States Asset Manager 3x5 Partners United States Asset Manager Aberdeen Standard Investments United Kingdom Asset Manager ABN Amro Holding Netherlands Asset Owner Achmea BV Netherlands Asset Manager ACTIAM Netherlands Asset Manager Addenda Capital Inc. Canada Asset Manager Adelphi Capital LLP United Kingdom Asset Manager Aegon Netherlands Asset Owner AFAP SURA S.A. Uruguay Asset Owner Afore Sura Mexico Asset Owner AFP Integra S.A. Peru Asset Manager AGF Investment Inc. Canada Asset Manager Aikya Investment Management United Kingdom Asset Manager AkademikerPension (MP Investment management) Denmark Asset Manager AKBANK T.A.Ş. Turkey Bank Aktia Bank Plc Finland Bank Alberta Investment Management Corporation (AIMCo) Canada Asset Manager Alberta Teachers Retirement Fund Canada Asset Owner Alecta Sweden Asset Owner Algebris (UK) Limited United Kingdom Asset Manager AllianceBernstein United States Asset Manager Allianz Global Investors Germany Asset Manager Allianz Group Germany Asset Owner Amalgamated Bank United States Bank American Century Investments United States Asset Manager American International Group, Inc. (AIG) United States Asset Owner AMF Sweden Asset Owner Amplegest France Asset Manager Amundi AM France Asset Manager Anchor Capital United States Asset Manager Angel Oak Capital Advisors, LLC United States Asset Manager Anima SGR Italy Asset Manager Antipodes Partners Limited Australia Asset Manager AP Pension Denmark Asset Owner APG
    [Show full text]
  • A Dynamic MST-Deltacovar Model of Systemic Risk in the European Insurance Sector
    STATISTICS IN TRANSITION new series, June 2021 Vol. 22, No. 2, pp. 173–188, DOI 10.21307/stattrans-2021-022 Received – 30.11.2019; accepted – 11.03.2021 A dynamic MST-deltaCoVaR model of systemic risk in the European insurance sector Anna Denkowska1, Stanisław Wanat2 ABSTRACT This work is a response to the EIOPA paper entitled ‘Systemic risk and macroprudential policy in insurance’, which asserts that in order to evaluate the potential systemic risk (SR), the build-up of risk, especially risk arising over time, should be taken into account, as well as the interlinkages occurring in the financial sector and the whole economy. The topological indices of minimum spanning trees (MST) and the deltaCoVaR measure are the main tools used to analyse the systemic risk dynamics in the European insurance sector in the years 2005-2019. The article analyses the contribution of each of the 28 largest European insurance companies, including those appearing on the G-SIIs list, to systemic risk. Moreover, the paper aims to determine whether the most important contribution to systemic risk is made by companies with the highest betweenness centrality or the highest degree in the obtained MST. Key words: systemic risk, minimum spanning trees, deltaCoVaR, insurance sector. 1. Introduction The subject of this work is part of the current research on the interlinkages of large insurance companies and their contribution to systemic risk (SR) in the insurance sector. In the international literature we find many studies related to the systemic risk analysis in the banking sector but little is done regarding systemic risk in the insurance sector.
    [Show full text]
  • Providers of Cross-Border Non-Life Insurance Services, Providers of Cross-Border Life Insurance Services
    Licenced life insurance companies in Estonia Compensa Life Vienna Insurance Group SE Swedbank Life Insurance SE Licenced non-life insurance companies in Estonia AS Inges Kindlustus AS KredEx Krediidikindlustus AS LHV Kindlustus ERGO Insurance SE If P&C Insurance AS MTÜ Eesti Liikluskindlustuse Fond Salva Kindlustuse AS Swedbank P&C Insurance AS Affiliated branches of foreign life insurance institutions 1 / 9 ERGO Life Insurance SE Eesti filiaal Mandatum Life Insurance Company Limited Eesti filiaal SEB Life and Pension Baltic SE Eesti filiaal Affiliated branches of foreign non-life insurance institutions AAS BTA Baltic Insurance Company Eesti filiaal AB Lietuvos draudimas Eesti filiaal ADB 'Gjensidige' Eesti filiaal (former name UAB DK 'PZU Lietuva' Eesti filiaal, insurance portfolio transferred to AB Lietuvos Draudimas on 01.06.2015) Compensa Vienna Insurance Group, UADB Eesti filiaal If P&C Insurance Ltd (publ) Eesti filiaal Telia Försäkring AB Eesti filiaal Providers of cross-border life insurance services ABN AMRO LIFE S.A. Allianz Benelux SA/NV Allianz Elementar Lebensversicherungs-AG 2 / 9 Allianz Global Life Designated Activity Company Allianz Lebensversicherungs-AG Allianz Nederland Levensverzekering N.V. Allianz pojišt'ovna, a.s Allianz Vie Allianz Worldwide Care SA Allianz Worldwide Care SA Irish branch Assicurazioni Generali s.p.a Augura Ireland dac Aurora Assicurazioni S.p.A. AXA Biztosito Zrt AXA France VIE AXA Wealth Europe S.A. 3 / 9 Axeria Prevoyance BAWAG-Versicherung AG BULSTRAD LIFE VIENNA INSURANCE GROUP JSC CALI EUROPE S.A. CapitalLeben Versicherung AG CARDIF LUX VIE S.A. Cardif Vie Ceská pojišt`ovna a.s CHUBB Life Europe SE (previously ACE Europe Life SE) Cigna Life Insurance Company of Europe SA CNP Luxembourg S.A.
    [Show full text]
  • Italian Insurance Market Snapshots
    The Italian Insurance Market 2017 figures + 9M18 overview Italian insurance market snapshots The Italian Insurance Market • 2017 figures + 9M18 overview PwC 1 Section 1 – Italian insurance market snapshots Italian insurance market Key Messages • In 2017, Italian GWP declined by 2.4% to €131bn with life business falling by 3.6%, partially compensated by non-life increasing by 1.2%. Premiums represented ca. 8% of FY17 Key-data Italian GDP, representing the 4th highest ratio in Europe • Technical results decreased by 10.9% from 2017 higher incidence of cost over lower volumes in life and impact of catastrophic events for non-life Italian insurance market GWP €131bn, -2.4% vs. FY16 • After the adoption of Solvency II in 2016, insurers are putting great effort on capital o/w Life: €99bn (-3.6% vs. FY16) management, reflected by the increase of the market Solvency ratio to 241% in 2017 (221% Non-life: €32bn (+1.1% vs. FY16) in 2016) • Fintech (33 insuretech entities in Italy) and healthcare represent major disruptions for the Largest Italian insurance insurance sector with businesses affected recording double digit growth companies: • Proper investments in cyber insurance risk management may guarantee to insurers a o Life: Poste Vita (market share equal significant advantage towards competitors, as the Italian industrial 4.0 framework will to 17.5%) demand protection from cyber attacks o Non-life: UnipolSai Assicurazioni • Interim figures lead to a forecast for 2018 of an increase to ca. €134bn GWPs due to (market share equal to 18.8%) growth
    [Show full text]
  • 10 Year Anniversary of the CRO Forum
    10 Year Anniversary of the CRO Forum Bologna, September 2014 ENHANCING RISK 10 OF YEARS MANAGEMENT Table of contents Foreword page 3 Interviews page 4 4 Interview Tom Grondin and Tom Wilson 7 Interview Raj Singh 9 Interview Karel Van Hulle Summary of the anniversary event page 12 12 Risk management 13 Cyber Risk 13 Regulatory Risk 15 Impressions 16 Group picture History of the CRO Forum page 18 18 About the CRO Forum 19 CRO Forum meetings and chairs 20 Publications 33 CRO Forum website Picture frontpage: Back door, San Petronio Basilica in Bologna 2 Ready for another ten successful years! We have been honoured to celebrate and host the 10 year anniversary of the CRO Forum together with you in the beautiful city of Bologna. We combined serious work and some fine entertainment, just as we have been used to combine hard work, frank discussions, tangible results and good friendship ever since the Forum took off in 2004. And we are proud to say that the CRO Forum has been very successful, both from the industry's, the professionals' and the regulator's point of view. The programme of 26 September 2014 was packed and took off with a roaring start with the morning visit to Ferrari, which was of course a boy’s dream come true! After lunch it was time for some serious exchange of views and information, with key note speeches and panel discussions on Risk Management, Cyber Risk and Regulation. In this publication, you can read three interviews with people who have been and still are closely related with the history and the success of the CRO Forum.
    [Show full text]
  • Providers of Cross-Border Life Insurance Services
    Providers of cross-border life insurance services ABN AMRO LIFE S.A. Allianz Benelux SA/NV Allianz Elementar Lebensversicherungs-AG Allianz Global Life Designated Activity Company Allianz Lebensversicherungs-AG Allianz Nederland Levensverzekering N.V. Allianz pojišt'ovna, a.s Allianz Vie Allianz Worldwide Care SA Allianz Worldwide Care SA Irish branch Assicurazioni Generali s.p.a 1 / 8 Augura Ireland dac Aurora Assicurazioni S.p.A. AXA Biztosito Zrt AXA France VIE AXA Wealth Europe S.A. Axeria Prevoyance BAWAG-Versicherung AG BULSTRAD LIFE VIENNA INSURANCE GROUP JSC CALI EUROPE S.A. CapitalLeben Versicherung AG CARDIF LUX VIE S.A. Cardif Vie Ceská pojišt`ovna a.s 2 / 8 CHUBB Life Europe SE (previously ACE Europe Life SE) Cigna Life Insurance Company of Europe SA CNP Luxembourg S.A. Commercial Union Polska Towarzystwo Ubezpieczen na Zycie S.A. CROATIA osiguranje d.d. DELA Natura- en levensverzekeringen N.V. Deutsche Lebensversicherungs-AG DONAU Versicherung AG Vienna Insurance Group Erisa Erste niederösterreichische Brandschaden-Versicherungsaktiengesellschaft F.A.T.A. s.p.a. FONDIARIA -SAI S.p.A. Fortuna Lebens-Versicherungs Aktiengesellshaft 3 / 8 FWU Life Insurance Austria AG GENERALI ESPANA S.A. DE SEGUROS Y REASEGUROS Generali PanEurope dac Generali Žycie Towarzystwo Ubezpieczen S.A. GRAWE Eletbiztosito Zärtkörüen Muködo Reszvenytärsasäg Grazer Wechselseitige Versicherung Aktiengesellschaft Hansard Europe DAC Holmia Livförsäkring AB Italiana Assicurazioni S.P.A. La Mondiale Europartner S.A. (endise nimega LA MONDIALE EUROPA S.A.) Liechtenstein Life Assurance AG Lombard International Assurance S.A. 4 / 8 LV 1871 Private Assurance AG Maiden Life AB MAXIMA MetLife Towarzystwo Ubezpieczen na Žycie i Reasekuracji S.A.
    [Show full text]
  • Unipol and Voluntary Work
    Unipol and voluntary work Unipol Assicurazioni traditionally dedicates its Social Report to a good cause, a charity that can have a powerful ethical impact, enabling Unipol to return to its roots in the democratic Italian movements of cooperation and the world of the employed and self-employed workforce. These movements have always been at the forefront of the universal struggle to emancipate the weak and provide social solidarity. The UN has dedicated 2001 to voluntary work. This is a wonderful oppor- tunity to promote voluntary work, to launch new ideas and projects and to reflect on motivation as well as the social and political meaning of volun- tary work today. Voluntary work is a vital resource for society, a vision of the world to unite all men and women with goodwill, to give a voice to those that cannot be heard, to defend and protect the personal dignity of man. We asked Don Ferdinando Colombo from VIS (Volontariato Internazio- nale per lo Sviluppo - Voluntary Work for Overseas Development) to write the foreword to a small booklet detailing the history of Italian legislation with regard to voluntary work. This booklet will be distributed together with Unipol’s Social Report. Unipol applauds and embraces the work of VIS because it is an organisa- tion that spreads an important concept, one that is perhaps new to many, “that people involved in voluntary work and politics based on justice, do not intend to help the less fortunate in terms of ‘charity’, because of a feeling of moral duty, but rather because of the basic rights (civil, politi- cal, economic, social and cultural) accorded to all men because they are men.
    [Show full text]
  • UBS the Italian Financial Services Conference 2010 Unipol Gruppo
    UNIPOL GRUPPO FINANZIARIO UBS The Italian Financial Services Conference 2010 Unipol Gruppo Finanziario Bancassurance Strategy 21 January 2010 Carlo Cimbri, General Manager Agenda The Bancassurance scenario The UGF Group strategy in Bancassurance and Arca acquisition 2 The Bancassurance scenario % premium distribution by banking channel ITALY Non-Life Life 2.6% 61.2% 60.6% 61.2% 2.3% 58.9% 58.6% 59.0% 1.9% 57.8% 1.6% 1.7% 56.3% 1.3% 54.1% 1.0% 1.1% 1.1% 52.6% 0.7% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009* 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009* * 2009 figures as at 30/9/09 EUROPE Non-Life Life 63.2% 60.0% 10.0% 53.7% 52.6% 7.9% 8.0% 42.7% 6.1% 6.6% 4.7% 21.6% 2.3% 15.0% AT BE DE ES FR IT NL AT BE DE ES FR IT NL 2007 figures. 2008 data only for France and Italy. 3 Trend in premium income (Italian market) Premium income (€bn) No n - Life Life 79.0 73.5 69.4 62.8 65.6 61.4 55.3 54.6 46.3 39.8 34.2 35.4 36.3 37.2 37.7 37.5 36.5 27.9 29.9 32.4 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Premium income / GDP N on- Lif e Lif e 7.6% 7.8% 7.3% 7.2% 7.2% 6.8% 6.1% 6.4% 5.6% 5.9% 5.1% 5.3% 4.3% 4.7% 4.7% 4.7% 3.7% 4.0% 3.5% Source: figures worked out by the UGF 3.3% Research Department based on ISVAP and ANIA data.
    [Show full text]