Insurance Brokers in Italy

Databank Cerved Group, August 2012, Pages: 44

This report supplies information on the Insurance Brokers Italian market and its competitors: market trends, SWOT and key success factors analysis, major companies performance indicators (total turnover, sector specific turnover, market shares and export quotas), business prospects and trends.

Scope
Insurance brokers carry out brokerage activity on insurance policies for retail and corporate customers in the public and private sectors. They are registered under Section B of the Single Register of Insurance and Reinsurance Intermediaries (RUI), and act on behalf of the customer. They do not have authority to represent insurance or reinsurance companies as a result of a direct relationship with them and/ or through contracting agreements with agents that have been ratified by said companies according to article 55, paragraph 1, letter b) of ISVAP regulation no. 5/2006 and subsequent amendments.

Insurance companies pay commissions on the premiums brokered, and brokers' activity is segmented according to the specific branch of insurance into which these premiums fall. This is based on the branches identified in the upstream insurance market, with the main distinction being between Property & Casualty (P&C) and Life. Alternatively, the market can be segmented according to the client, distinguishing between corporate (companies, banks and other financial institutions, public authorities) and retail.

This report covers companies operating in the placement on the market of third-party insurance products:

- Purpose: intermediation between insurance companies that produce policies and the parties that require insurance coverage.

- Client groups: mostly corporate clients (companies, banks and other financial institutions, public bodies), and also to a lesser extent retail customers, who deal directly with the broker.

This report does not analyse companies specialising exclusively in reinsurance.

Segments

Segmentation is based on the volume of premiums brokered, with reference to the categories used in the insurance sector which are grouped into macro-segments based on similarities between the specific type of risk in question. The following breakdown has been adopted:

Property & Casualty:
- personal injury;
- illness;
- land vehicles;
- transport (railway rolling stock, aircraft, ships (sea, lake, river and canal vessels), goods in transport, aircraft liability and liability for ships);
- fire and natural forces;
- other damage to property;
- motor vehicle liability;
- general liability;
- financial loss (credit, suretyship and other financial loss);
- other property and casualty (legal expenses, travel assistance).

Life:
- life assurance;
- investment funds;
- health insurance;
- funded pension schemes;
- pension funds.

Methodology

Databank’s methodology for Competitors reports begins with a careful screening to identify the main organisations that are representative of a given sector. Several one-to-one interviews are then conducted with the selected organisations. Questionnaires are sent to all the leading companies on an annual basis. The information collected is then verified by an expert in the particular sector using a system of counterchecks to guarantee that the information is entirely reliable and consistent. The process is then completed using Cerved Group’s proprietary information about Italian enterprises. All Competitors reports also include details concerning the strategies and performances of the leading companies in each sector.

Wherever no specific source is indicated, the information published in these reports can be assumed to have been taken from Cerved Group’s proprietary information bank. Coverage of any sector in Competitors products may be used in company presentations or in training courses on the subject.

LIST OF COMPANIES ANALYSED 4
1. INTRODUCTION TO METHODOLOGY 5
2. SECTOR DESCRIPTION 6
2.1. Scope 6
2.2. Segments 6
3. EXECUTIVE SUMMARY 7
3.1. Key sector data 7
3.2. Supply and demand trends 7
3.3. Market leaders 8
3.4. Business strategies 9
4. SECTOR ENVIRONMENT 10
4.1. Sector data 10
4.2. Competitive forces 12
4.3. Notable recent events and developments 13
5. DEMAND ANALYSIS 15
6. SUPPLY ANALYSIS 16
6.1. Key characteristics 16
6.2. Sector financials 17
7. COMPETITIVE SCENARIO 24
7.1. Types of operators 24
7.2. Ranking of companies 24
7.3. Competitive performances by segment 33
7.3.1. Market share 33
8. STRATEGIES OBSERVED 37
8.1. Strategic map of operators 37
8.2. Winning strategies 39
9. OPPORTUNITIES AND THREATS 41
CONNECTED PRODUCTS AND SERVICES 42
CONTACT 43
COPYRIGHT 44

List of Tables and Graphs:
LIST OF COMPANIES ANALYSED
KEY SECTOR DATA
INSURANCE BROKERS: MARKET SIZE AND TRENDS IN TERMS OF VALUE, 2009-2013
INSURANCE BROKERS: IMPACT OF COMPETITIVE FORCES, 2012
BREAKDOWN OF ITALIAN ECONOMY BY ACTIVITY, JUNE 2012
INSURANCE BROKERS: LISTED ON RUI BY SECTION, 2009-2011
INSURANCE BROKERS: SECTOR GROWTH RATES OF SOME KEY FINANCIAL INDICATORS, 2009 & 2010
INSURANCE BROKERS: LEADING COMPANIES' FINANCIAL INDICATORS, 2010 & 2011
INSURANCE BROKERS: CHANGES IN FINANCIAL INDICATORS FOR LEADING COMPANIES, 2009-2011
INSURANCE BROKERS: LEADING COMPANIES' PERSONNEL COSTS, 2010 & 2011
INSURANCE BROKERS: IMPACT OF PERSONNEL COSTS ON NET INCOME FOR LEADING COMPANIES, 2010 & 2011
INSURANCE BROKERS: IMPACT OF PRE-TAX PROFIT ON NET INCOME FOR LEADING COMPANIES, 2010 & 2011
INSURANCE BROKERS: COMMISSIONS AND TECHNICAL PROFIT OF LEADING COMPANIES, 2010 & 2011
INSURANCE BROKERS: CHANGE IN COMMISSIONS RECEIVED AND TECHNICAL PROFIT FOR LEADING COMPANIES, 2011
INSURANCE BROKERS: ROE OF OTHER SECTOR COMPANIES, 2008-2010
INSURANCE BROKERS: LEADING COMPANIES' SECTOR-SPECIFIC TURNOVER, 2009-2011
INSURANCE BROKERS: LEADING COMPANIES' NET PRODUCTION VALUE, 2009-2011
INSURANCE BROKERS: PREMIUMS BROKERED BY LEADING COMPANIES, 2009-2011
INSURANCE BROKERS: REVENUES AS A PERCENTAGE OF PREMIUMS BROKERED BY LEADING COMPANIES, 2010 & 2011
INSURANCE BROKERS: BREAKDOWN OF PREMIUMS BROKERED BY CLIENT TYPE FOR SOME LEADING COMPANIES, 2011
INSURANCE BROKERS: LOCATION, SHAREHOLDERS AND EMPLOYEE NUMBERS OF LEADING COMPANIES, 2011
INSURANCE BROKERS: BREAKDOWN OF PERSONNEL BY FUNCTION FOR LEADING COMPANIES, 2011
INSURANCE BROKERS: REVENUES AND MARKET SHARE OF LEADING COMPANIES, 2009-2011
INSURANCE BROKERS: PREMIUMS BROKERED AND MARKET SHARE FOR LEADING COMPANIES, 2009-2011
MAP OF STRATEGIC GROUPS, 2012
INSURANCE BROKERS: OPPORTUNITIES AND THEIR SHORT-LONG TERM IMPACT, 2012
INSURANCE BROKERS: THREATS AND THEIR SHORT-LONG TERM IMPACT, 2012

A. & B. INSURANCE AND REINSURANCE S.R.L.
ALPHA BROKER S.P.A.
AMEX BROKER ASSICURATIVO S.R.L.
ANDREA SCAGLIARINI S.P.A.
AON S.P.A. INSURANCE & REINSURANCE BROKERS
AREA BROKERS PROGRAMMI ASSICURATIVI S.R.L.
AREA BROKERS S.R.L.
ARENA BROKER S.R.L.
ASSCOM INSURANCE BROKERS S.R.L.
ASSICONSULT S.R.L.
ASSIDEA & DELTA - S.R.L.
ASSIDOGE S.R.L.
ASSIGECO S.R.L.
ASSITECA - FORTUNE INSURANCE BROKERS S.R.L.
ASSITECA - S.A. INSURANCE BROKERS S.P.A.
ASSITECA ADRIATICA S.R.L.
ASSITECA AGRICOLTURA S.R.L.
ASSITECA BROKER DI ASSICURAZIONI S.P.A.
ASSITECA NAPOLI S.P.A.
ASSITECA NORD-EST S.R.L.
ASSITECA PIACENZA S.R.L.
ASSITECA POINT S.P.A.
ASSITECA S.R.L.
ASSITECA S.P.A. INTERNAZIONALE DI BROKERAGGIO ASSICURATIVO
ASSITECA-BSA S.R.L.
ASSITEX S.R.L.
B&A BROKER S.P.A.
BANCHERO - COSTA & C. S.P.A.
BANCHERO COSTA INSURANCE BROKER S.P.A.
BIM INSURANCE BROKERS S.P.A.
BROKING ITALIA S.R.L.
CAMBIASO RISSO MARINE S.P.A.
CENTRALE G P A S.P.A.
CONSULBROKERS S.P.A.
FONTANA RAVA - TOSCANO & PARTNERS S.R.L.
GENERAL BROKER S.P.A.
GOGGI - STERLING S.R.L.
GPA BISANZIO S.R.L.
GPA S.P.A.
GRUPPO G P A - S.P.A.
INSER S.P.A.
INTERMEDIA BROKER S.P.A.
ITAL BROKERS & PARTNERS - S.P.A.
ITAL BROKERS S.P.A.
ITALIAN UNDERWRITING S.R.L.
JARDINE LLOYD THOMPSON S.P.A.
JARDINE LLOYD THOMPSON S.R.L.
L & T INSURANCE BROKER S.R.L.
LENZI PAOLO BROKER DI ASSICURAZIONI S.R.L.
MANSUTTI S.P.A.
MARINE & AVIATION S.P.A.
MARSH S.P.A.
MEDIASS GPA - S.P.A.
MONDIAL BROKERS S.R.L. BROKERS D'ASSICURAZIONE
PCA S.P.A.
PRAESIDIUM S.P.A.
PULSAR RISK S.R.L.
S&B ESSEBI INSURANCE BROKER S.R.L.
SAPRI BROKER S.R.L.
SCHINASI INSURANCE BROKERS S.P.A.
SECURITAS S.R.L.
UBI - INSURANCE BROKER S.R.L.
VIRAS INTERNATIONAL INSURANCE BROKER S.P.A.
WILLIS ITALIA S.P.A.

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