|
Published by: Datamonitor
Published: Apr. 5, 2007 - 39 Pages
Table of Contents
- EXECUTIVE SUMMARY - MARKET HIGHLIGHTS
- Market overview
- Market forecasts
- Market regulation
- Competitive market structure
- Market leaders
- INTRODUCTION
- What is this report about?
- Who is the target reader?
- How to use this report
- CHAPTER 1 MARKET OVERVIEW
- Introduction
- Key findings
- The Italian pensions market is negligible
- The proportion of premium income attributed to individual and group policies has been constant over the past 5 years
- Premium income from non unit-linked insurance recovered in 2005, following a decline the year before
- Bonds consistently account for close to 70% of the investment assets of life and pensions insurance companies
- CHAPTER 2 MARKET FORECASTS
- Introduction
- Key findings
- Over the next 5 years, premium income is set to grow at a compound annual rate of 3.5%
- CHAPTER 3 MARKET REGULATION
- Introduction
- Key findings
- ISVAP regulates the Italian insurance sector
- The Insurance Intermediary Directive creates a single passport for insurance intermediaries and enhances consumer choice
- Insurance companies which belong to financial conglomerates face additional supervisory requirements
- Recent legislation governs insurance sales and communication practices
- New legislation has the potential to expand the market for occupational retirement provision
- Anti-money laundering legislation implies an additional administrative burden for insurance companies and brokers
- Insurance companies are subject to new rules on internal control procedures and risk management
- Recent and upcoming laws will enhance consumer protection
- CHAPTER 4 COMPETITIVE MARKET STRUCTURE
- Introduction
- Key findings
- Italian life insurance companies and composites represent close to 85% of the life & pensions market, by number
- The top 5 life insurers control 36% of the market, by premium income
- Banks & post offices generate the single highest proportion of life & pensions premium income
- CHAPTER 5 MARKET LEADERS
- Introduction
- Key findings
- Intesa Vita is the life insurance market leader, based on premium income
- Poste Vita trails the market leader in the life insurance sector
- Eurizon Vita ranks third among life insurance companies
- CreditRas Vita is the fourth highest ranked life insurer by premium income
- INA Vita rounds out the top 5 life insurers
- APPENDIX
- Definitions
- Further reading
- Wealth, Investments & Protection writing team
- LIST OF TABLES
- Table 1: Life and pensions insurance premium income, segmented by product, EURm, 2001-2005
- Table 2: Life and pensions insurance premium income, segmented by product, in percentages, 2001-2005
- Table 3: Life and pensions insurance premium income, segmented by buyer, EURm, 2001-2005
- Table 4: Life and pensions insurance premium income, segmented by buyer, in percentages, 2001-2005
- Table 5: Life and pensions insurance premium income, segmented by investment risk, EURm, 2001-2005
- Table 6: Life and pensions insurance premium income, segmented by investment risk, in percentages
- Table 7: Investment assets of life and pensions insurance companies, EURm, 2001-2005
- Table 8: Investment assets of life and pensions insurance companies, in percentages, 2001-2005
- Table 9: Life and pensions insurance premium income, segmented by product, EURm, 2006-2010
- Table 10: Life and pensions insurance premium income, segmented by product, in percentages, 2006-2010
- Table 11: Number of life insurance and pensions providers, segmented by type, as at Dec 2005
- Table 12: Top 5 life insurers by premium income, as at Dec 2005
- Table 13: Life insurance premium income, segmented by distribution channel, in percentages, Jan-Dec 2005
- LIST OF FIGURES
- Figure 1: While pensions premiums account for less than 1% of the market, they have grown at treble the rate of insurance premiums in the last 5 years
- Figure 2: Individual policies account for the majority of life and pensions premium income.
- Figure 3: Compound annual growth in premium income from non unit-linked insurance has outstripped growth in unit-linked premiums
- Figure 4: The portfolio of investments of life and pensions insurance companies has remained largely consistent
- Figure 5: Pensions will continue to account for a negligible proportion of premium income, growing at a compound rate of 2.2% p.a.
- Figure 6: Italian life insurers account for 66% of the market, by number
- Figure 7: The top 5 life insurers control 36% of the market, by premium income
- Figure 8: Banks & post offices and insurance agencies account for roughly 80% of premium income
AbstractIntroduction
This report is most appropriate for companies looking for an overview of the life insurance and pensions markets in order to assess the level of market opportunity (using our market data and forecasts), regulatory barriers and opportunities, and level of competition in the market. For more detailed market data please refer to Datamonitor's European Life and Pensions Interactive Database 2006.
Scope
Presents competitor market data for life insurance and pensions companies; Assesses regulatory barriers and opportunities; 5 years historic data from 2001-5 and 5 year forecast to 2010.
Highlights
The increasing proportion of premium income represented by non unit-linked policies reflects a growing preference among Italian investors for products that offer a guaranteed return. This is a reversal of the trend noted a decade ago. ISVAP Circular 573/D makes provisions for the verification of insurance companies' monitoring of the education of their intermediaries, and of fairness and fit and proper requirements of intermediaries as regards the distribution and advertising of life and non-life policies. It requires a standard report to be submitted to ISVAP annually. Between 2001 and 2005, premium income from direct sales has been steadily increasing, while the opposite has been true for sales through financial advisors. Financial advisors continue, however, to be an important channel for unit- and index-linked policies, for which there has been declining demand in recent years.
Reasons to Purchase
Get an overview of the life and pensions market, including past growth and forecast growth; Assess regulatory barriers and opportunities affecting life insurance and pensions in this country; Analyze competition from life insurance compan
Get Full Details About This Report >>
|
|
US: 800.298.5699
Int'l: +1.240.747.3093
|
|
|
|
About MarketResearch.com
MarketResearch.com is an online aggregator selling over 160,000 market research reports, company profiles and country profiles from over 600 research firms. Our reports will provide you with the critical business and competitive intelligence you need for strategic planning and marketing research. Coverage includes the US, UK, Europe, Asia and global markets.
© MarketResearch.com 2008
|
