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European Insurance Industry - Global Strategic Business Report

  • ID: 604656
  • Report
  • Region: Global, Europe
  • 620 pages
  • Global Industry Analysts, Inc
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The European Insurance Industry Report provides insightful analysis, market overview, industry structure and outlook of insurance industry in the region. Richly laden with quantitative analysis, the report provides the reader with a rudimentary preface to the European insurance industry in France, Germany, Italy, the United Kingdom, the Czech Republic, Russia, the Netherlands, Spain, Denmark, and several other European countries. Get to know about various types of life and non-life insurance products in the regional markets, backed by statistical inference of key players in these markets. The closely summarized European market report is designed to offer a broad, macro level picture of the trends & issues, challenges, market structure/basics, timeline of directives & legislations, discussion on regional regulatory environment and distribution channels, recent mergers & acquisitions, and strategic corporate developments witnessed by the industry in the region. The report also peeps into the recent past/ historical perspective of the region’s insurance markets and corporate developments within the industry. A regional level discussion also looks into the leading companies’ footing in these markets along with their annual written premiums and/ or market shares. The report discusses several key and niche players within the region.

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EUROPEAN INSURANCE INDUSTRY

A STRATEGIC BUSINESS REPORT

CONTENTS

1. Industry Overview EU-1
Changing Face of the European Insurance Market EU-1
Deregulation Regulating the Market’s Growth? EU-1
European Insurance Industry Records Growth EU-1
UK Leads the Way EU-1
2004: Earnings Clouded by Underwriting Concerns EU-2
Units Up EU-2

2. Outlook EU-3
Table 1: European Recent Past, Current & Future Analysis for
Insurance Industry by Segment - Life and Non-Life Markets
Independently Analyzed with Annual Premium Income in US$
Billion for the Years 2006 through 2010 (includes
corresponding Graph/Chart) EU-3

Table 2: European 5 -Year Perspective for Insurance Industry
by Segment - Percentage Breakdown of Premium Income for Life
and Non-Life Insurance Markets for 2006, 2008, and 2010
(includes corresponding Graph/Chart) EU-4

Table 3: European Recent Past, Current & Future Analysis for
Insurance Industry by Leading Country/Region - United Kingdom,
France and German Markets Independently Analyzed with Annual
Premium Income in US$ Billion for the Years 2006 through 2010
(includes corresponding Graph/Chart) EU-4

Table 4: European Recent Past, Current & Future Analysis for
Life Insurance Industry by Leading Country/Region - United
Kingdom, France and German Markets Independently Analyzed with
Annual Premium Income in US$ Billion for the Years 2006
through 2010 (includes corresponding Graph/Chart) EU-5

Table 5: European Recent Past, Current & Future Analysis for
Non-Life Insurance Industry by Leading Country/Region - United
Kingdom, France and German Markets Independently Analyzed with
Annual Premium Income in US$ Billion for the Years 2006
through 2010 (includes corresponding Graph/Chart) EU-5

Table 6: European Insurance Industry (2005): Premium Income
in US$ Billion, Per Capita Premium in US$, and Penetration of
Insurance by Life and Non-Life Segments for Select Regions -
Belgium, Czech Republic, France, Germany, Italy, Netherlands,
Switzerland, and United Kingdom (includes corresponding
Graph/Chart) EU-6

Table 7: European Insurance Industry (2005): Percentage
Breakdown of Net Premium Income in Euro Billion by Life and
Non-Life Segments for Aegon, Allianz, Aviva, Axa, CNP,
Generali, ING, Legal & General, and Zurich (includes
corresponding Graph/Chart) EU-7

Table 8: European Insurance Industry (2005 & 2006): Cumulative
Earnings of European Insurers in Euro Billion by Select
Regions - France, Germany, UK, Italy, and Switzerland
(includes corresponding Graph/Chart) EU-7

Table 9: European Insurance Industry (2005 & 2006): Cumulative
Earnings of European Insurers in Euro Billion by Category -
Life, Non-Life, and Reinsurance (includes corresponding
Graph/Chart) EU-8

Table 10: Life Insurance Market (2002-2005): Premium Income
(in € Billion) by Major European Countries - United Kingdom,
France, Germany, and Italy (includes corresponding
Graph/Chart) EU-8

3. A Historic Review of the Market EU-9
Europe’s Leading Insurance Markets EU-9
Table 11: Major Insuring Nations in Europe Ranked by Direct
Premium Written in 2000 (In US$ Billion) (includes
corresponding Graph/Chart) EU-9

Table 12: Major Non-Life Insuring Nations in Europe: 2000
(In US$ Billion) (includes corresponding Graph/Chart)
(includes corresponding Graph/Chart) EU-10

Table 13: Key Nations for Life Insurance in Europe: 2000 (In
US$ Billion) (includes corresponding Graph/Chart) (includes
corresponding Graph/Chart) EU-11
Dismal Performances of Foreign Subsidiaries Taint Corporate
Image EU-11
Percentage Exposure of Continental European Insurers Based
on Gross Premium Written: Mid 90s EU-12

4. Industry Structure EU-13
Market Issues EU-13
Sector Description EU-13
Market Forces EU-14
Demand EU-14
Supply and Competition EU-15
Changing Environment of the Insurance Industry EU-16
What’s in Store? EU-17
European Insurance Market Movements EU-18
Bancassurance - The largest Distribution Channel EU-18
Deregulation of the Industry EU-19
The Formation of A Unified European Insurance Market EU-19
Problems with Unified Market EU-20
Market Specialization EU-20
90’s: A Decade of Regulations EU-21
Pension Reforms - A Big Bet for Private Pension Plans EU-23

5. Solvency II - for a Prudent and Accountable Insurance Industry
in Europe EU-24

Solvency II - A Primer EU-24
Draft Solvency II Framework Directive EU-25
Solvency II - A Sound Business Proposition for Small and
Large Companies EU-26
Solvency II - A Business Perspective EU-26

6. European Long-Term Insurance EU-27
European Giants Facing Problems EU-27
Long-Term Insurance Marching Forward EU-27
Life and Pensions Market in Europe EU-27
Cross Border Life Operations - A Boon to Life Insurers EU-27
Challenges Faced by the Life and Pensions Market in Europe EU-28
A Review of Pension Market in Major European Countries EU-28
Compulsory Pension Saving - A Hugely Relied Income EU-28
Dominance of PAYG System EU-28
Occupational Pensions (Voluntary Schemes) EU-28
Personal Pensions and Other Retirement Saving (Voluntary
Schemes) EU-29
Non-Contributory (Means-Tested) Pensions EU-29
What’s in Store? EU-29
France EU-29
Germany EU-29
Italy EU-29
United Kingdom EU-29
Spain EU-30
Poland EU-30
Major Trends EU-30
Ageing Population Thumps the Pension Regimes EU-30
Alarming Pension Expenditure EU-30
Saving Rates EU-30
Occupational Pensions - On the Rise EU-30
Flooding Tax-Benefits EU-31
Advocating for Company-Based Pensions EU-31
Public Pensions Systems Under Pressure EU-31

7. Life Insurance EU-32
Life Investments Form Major Portion of Insurance Investments EU-32
Table 14: European Life Insurance Market (2005): Percentage
Breakdown of Premiums by Country - Belgium, Denmark,
Finland, France, Germany, Italy, Netherlands, Spain, Sweden,
Switzerland, United Kingdom, and Others (includes
corresponding Graph/Chart) EU-32

Table 15: European Life Insurance Market (2005): Percentage
Breakdown of Insurance Contracts by Individual and Group
Segments for France, Germany, Italy, UK, and Spain
(includes corresponding Graph/Chart) EU-33

Table 16: European Life Insurance Market (2005): Percentage
Breakdown of New Individual Life Contracts by Segments -
Annuity, Protection, and Savings (includes corresponding
Graph/Chart) EU-33

Table 17: Leading Players in European Life Insurance Market
(2006): Percentage Market Share of APE (Annual Premium
Equivalent) by Unit-Linked Products, and Fixed-Rate
Products for Aegon, AGF, Allianz, AXA, CNP, Generali,
Fortis, and ING (includes corresponding Graph/Chart) EU-34

Table 18: European Life Insurance Market (2005): Percentage
Breakdown of Mutual Insurers’ Life Premiums by Country -
Austria, Belgium, Finland, France, Germany , UK, Italy,
Netherlands, Norway, and Sweden (includes corresponding
Graph/Chart) EU-34

Table 19: European Life Insurance Market (2005): Mutual
Insurers’ Regional Market Share in Life Sector by Country -
Austria, Belgium, Denmark, Finland, France, Germany, UK,
Italy, Netherlands, Norway, and Sweden (includes
corresponding Graph/Chart) EU-35

8. Health Insurance EU-36

9. Non-Life Insurance EU-37
Table 20: European Non-Life Insurance Market (2005):
Percentage Breakdown of Premium Income by Country -Belgium,
Denmark, Finland, France, Germany, Italy, Netherlands, Spain,
Sweden, Switzerland, United Kingdom, and Others (includes
corresponding Graph/Chart) EU-37

Table 21: European Non-Life Insurance Market (2005):
Percentage Breakdown of Premium Income by Category - General
Liability, Health & Accident, Legal Expenses, MAT, Motor
Premium, Property, and Others (includes corresponding
Graph/Chart) EU-38

Table 22: European Motor Insurance Market (2005): Percentage
Breakdown of Premium Income by Country - France, Germany, UK,
Italy, Spain, Netherlands, and Rest of Europe (includes
corresponding Graph/Chart) EU-38

Table 23: European Accident & Health Insurance Market (2005):
Percentage Breakdown of Premium Income by Country - France,
Germany, UK, Italy, Spain, Netherlands, Switzerland, and
Rest of Europe (includes corresponding Graph/Chart) EU-38

Table 24: European Liability Insurance Market (2005):
Percentage Breakdown of Premium Income by Country - France,
Germany, UK, Italy, Spain, Switzerland, and Rest of Europe
(includes corresponding Graph/Chart) EU-39

Table 25: European Property Insurance Market (2005):
Percentage Breakdown of Premium by Country - France, Germany,
UK, Italy, Spain, Netherlands, Sweden, and Rest of Europe
(includes corresponding Graph/Chart) EU-39

Table 26: European Non-Life (Legal Expenses) Insurance Market
(2005): Percentage Breakdown of Premium by Country -
Austria, Belgium, France, Germany, UK, Italy, and Rest of
Europe (includes corresponding Graph/Chart) EU-40

Table 27: European Marine, Aviation, and Transport Insurance
Market (2005): Percentage Breakdown of Premium by Country -
France, Germany, UK, Italy, Spain, Netherlands, and Rest of
Europe (includes corresponding Graph/Chart) EU-40

Table 28: European Non-Life Insurance Market (2005):
Percentage Breakdown of Mutual Insurers’ Non-Life Premiums
by Country - Austria, Belgium, Denmark, Finland, France,
Germany, UK, Italy, Netherlands, Norway, and Sweden
(includes corresponding Graph/Chart) EU-40

Table 29: European Non-Life Insurance Market (2005): Mutual
Insurers’ Regional Market Share in Non-Life Sector by
Country - Austria, Belgium, Denmark, Finland, France,
Germany, UK, Italy, Netherlands, Norway, and Sweden
(includes corresponding Graph/Chart) EU-41

10. Travel Insurance EU-42
In Sync with Health Insurance EU-42
Multi-Trip Policies Gaining Attention EU-42

11. Direct Insurance EU-43
Factors Contributing to Success EU-43

12. Reinsurance Scene EU-44
Table 30: Leading Players in European Reinsurance Market
(2004): Percentage Market Share by Company - Berkshire
Hathaway, Everest Re, GEIS, Hannover Re, Munich Re, Partner
Re, Swiss Re, Transatlantic Re, and Others (includes
corresponding Graph/Chart) EU-45
Insured Losses Break Records EU-45
European Reinsurers - A 2001 Retrospect EU-45
Table 31: Leading Players in Western Europe Reinsurance
Market: 2000 (includes corresponding Graph/Chart) EU-46
Post September 11 Conditions EU-46
Resilience in Difficult Times EU-47
Table 32: European Global Insurance Companies - September 11
Losses with Net Premiums Earned in 2001 (In US$ million
unless otherwise stated) EU-48

13. Directives and Legislations - Tracing the Timeline EU-49
Non-Life Insurance Sector EU-49
Motor Vehicle Insurance EU-49
Other Non-Life Measures EU-50
Life Insurance Business EU-50
Insurance Companies EU-51
Co-Insurance EU-51
Export Credit EU-51
Miscellaneous EU-51

14. A Tightening Regulatory Environment EU-52
New Competition Rules in the Insurance Industry EU-52
Insurance Intermediation EU-52
Taxation of Insurance Premiums EU-52
New Guidelines in Germany EU-53
Reverberations in European Union EU-53
European Union to Withdraw State Cover for Airlines EU-53
European Insured Flood Losses in 2002 EU-54
Germany - The Hardest Hit EU-54
Allianz Bears the Brunt EU-54
Table 33: Major Events by Insured Losses in Europe:
1985-2000 (In US$ Billion) (includes corresponding
Graph/Chart) EU-55

Table 34: Major Insurers Affected by August-2002 Flood in
Europe Ranked by Losses (In € Million) (includes
corresponding Graph/Chart) EU-55

Table 35: Major Reinsurers Affected by August-2002 Flood in
Europe Ranked by Losses (In € Million) (includes
corresponding Graph/Chart) EU-56

15. Strategies EU-57
Internationalization EU-57
Bancassurance EU-57
Europe’s ‘Lisbon Strategy’ Relaunched EU-57

16. Changing Distribution Channels EU-58
Emergence of Bancassurance EU-58
Factors Influencing Growth EU-58
A Regional Perspective EU-58
Outlook EU-59

17. European and the US Markets - A Comparison EU-60
FRENCH INSURANCE INDUSTRY

1. Market Overview EU-61
France: A Leading European Life Insurance Market EU-61
Motor Insurance Hogs the Limelight EU-61
New Products Drive Growth EU-61
Table 36: French Recent Past, Current & Future Analysis for
Insurance Industry by Segment - Life & Non-Life Markets
Independently Analyzed with Annual Premium Income in US$
Billion for the Years 2006 through 2010 (includes
corresponding Graph/Chart) EU-62

Table 37: French 5-Year Perspective for Insurance Industry
by Segment - Percentage Breakdown of Premium Income for Life
and Non-Life Markets for 2006, 2008, and 2010 (includes
corresponding Graph/Chart) EU-62
Table 38: French Insurance Industry (2006): Per Capita
Premium in US$, and Penetration of Insurance by Category -
Life and Non-Life EU-62
Table 39: French Insurance Industry (2007 & 2008): Percentage
Breakdown of Premium Income by Category - Life Insurance,
Automobile, Bodily Injury, Property and Others (includes
corresponding Graph/Chart) EU-63

Table 40: French Insurance Industry (2006 & 2007): Percentage
Breakdown of Insurance Companies’ Investment Channels by
Category - Government Bonds, Corporate Bonds, Equities, Real
Estate and Others. (includes corresponding Graph/Chart) EU-63
The Leaders EU-64
Table 41: French Insurance Industry (2004): Gross Written
Premium in US$ Million by Leading Companies for AXA, CNP,
Prédica/Pacifica, AGF, Groupama, Generali France, BNP Paribas
assurance, Sogecap, ACM and Aviva France (includes
corresponding Graph/Chart) EU-64

2. A Fragmented Market EU-65
Table 42: Number of Insurance Companies Operating in France
(2002-2003) EU-65
Foreign Re-insurers in France EU-65
French Firms Fared Well Overseas EU-65
Table 43: French Insurance Industry (2006 & 2007): Percentage
Breakdown of Premiums Earned by French Insurers in the
European Union by Country - United Kingdom, Germany, Italy,
Belgium, Spain and Others (includes corresponding
Graph/Chart) EU-66

Table 44: French Insurance Market (2005): Percentage
Breakdown of Premium Income Earned by French Re-insurers
Abroad (includes corresponding Graph/Chart) EU-66

Table 45: French Reinsurance Industry (2007 & 2008):
Percentage Breakdown of French Reinsurers Geographical Spread
by Region - Europe, Americas, Asia and Other Regions
(includes corresponding Graph/Chart) EU-67

Table 46: French Reinsurance Market (2006 & 2007): Percentage
Breakdown of Premium Income Earned by French Reinsurers
Abroad (includes corresponding Graph/Chart) EU-67

3. Review of Sectors EU-68

3a. Life Insurance EU-68
Life Insurance Highlights EU-68
The Market Leaders EU-68
Table 47: Leading Players in French Life Insurance Market
(2006 & 2007): Percentage Market Share of Premiums by Company
  • CNP, Crédit Agricole, Axa, Generali, BNP and Others
(includes corresponding Graph/Chart) EU-68

Table 48: French Life Insurance Industry (2004): Gross
Written Premium in US$ Million by Leading Companies for CNP,
Prédica/Pacifica, AXA, Generali France, BNP Paribas
assurance, Sogecap, AGF, Groupama, ACM and Aviva France
(includes corresponding Graph/Chart) EU-69

Table 49: French Life Insurance Industry (2002): Gross
Written Premium in US$ Billion by Leading Companies for CNP,
AXA, Credit Agricole, BNP, Generali, AGF, Sogecap, ACM,
Aviva, and Groupama (includes corresponding Graph/Chart) EU-69

Table 50: Top-Five Players in the French Life Insurance
Industry (2001) - Gross Written Premiums in US$ Billion for
CNP, Credit Agricole, AXA France, BNP Paribas, and Credit
Mutuel - CIC (includes corresponding Graph/Chart) EU-69
Factors Favoring Growth EU-70
Life Insurance: A Source of Funding EU-70
Life Products EU-71
Table 51: French Insurance Industry (2005): Percentage
Breakdown of Insurance Companies’ Investment Channels by
Category (includes corresponding Graph/Chart) EU-71
Banks in Life Insurance EU-72
Industry Trends EU-72
Health Insurance Boosts the Segment’s Phenomenal Growth EU-72
Table 52: French Life and Health Insurance Market (2002):
Total Premium Income by Category in Euro Billion (includes
corresponding Graph/Chart) EU-73
Fastest Growing Life Products in France EU-73
Shift in Household Preference EU-73
Health Insurance EU-73
Groupama -The Market Leader EU-74
Retirement Funding EU-74
Professional Pension Contracts EU-74
Table 53: French Insurance Market (2002): Professional
Pension Contracts Written by Insurance Companies in Euro
Billion (includes corresponding Graph/Chart) EU-74
Tax Benefits to Help Pension Funds Growth EU-75
Compulsory Pension (Contributory State Pension) EU-75
Safety Net Pension (Non-Contributory State Pension) EU-76
Occupational Pension (Voluntary) EU-76
Personal Pensions and Other Retirement Savings (Voluntary) EU-76

3b. Non-Life Insurance EU-77
Table 54: French Non-Life Insurance Market (2006 & 2007):
Percentage Breakdown of Written Premiums by Category - Motor,
Fire, Accident, General Liability, Construction, Natural
Catastrophes, Transport and Miscellaneous (includes
corresponding Graph/Chart) EU-77

Table 55: French Non-Life Insurance Market (2006 & 2007):
Percentage Breakdown of Ceded Premiums by Category - Fire,
Natural Catastrophes, Motor, Accident, General Liability,
Transport, Construction and Miscellaneous (includes
corresponding Graph/Chart) EU-78
The Market Leaders EU-78
Table 56: Leading Players in French Property & Casualty
(P&C) Insurance Market (2006 & 2007): Percentage Market Share
of Premiums by Company - Axa, Groupama, AGF, Generali, CNP
and Others (includes corresponding Graph/Chart) EU-78

Table 57: French Property and Casualty Insurance Industry
(2004): Gross Written Premium in US$ Million by Leading
Companies for Groupama, AXA, AGF, Generali France, CNP, ACM,
Aviva France and Prédica/Pacifica (includes corresponding
Graph/Chart) EU-79

Table 58: French Non-Life Insurance Industry (2002): Gross
Written Premium in US$ Billion by Leading Companies for
Groupama GAN, AXA, AGF Allianz, Generali, Mutual du Mans,
Azur GMF, MACIF, MAIF, MAAF, and ACM (includes corresponding
Graph/Chart) EU-79

Table 59: Top-Five Players in the French Non-Life Insurance
Industry (2001) - Gross Written Premiums in US$ Billion for
AXA, Groupama GAN, AGF Allianz, MACIF, and Azur GMF
(includes corresponding Graph/Chart) EU-79
Property and Casualty Insurance: Market Overview EU-80
Table 60: French Property and Casualty Insurance Market
(2005): Premiums in € Billion by Category - Automobile,
Commercial Property, Construction, General liability, and
Homeowners Comprehensive (includes corresponding Graph/Chart) EU-80

Table 61: French Property and Casualty Insurance Market
(2005): Percentage Breakdown of Coverage Costs Under
Homeowners‘ Comprehensive Policies by Category - Fire,
Liability, Natural Disasters, Theft, Water Damage, and Others
(includes corresponding Graph/Chart) EU-80

Table 62: French Property and Casualty Insurance Market
(2002): Categories Ranked by Primary Business Premium in
Euro Billion (includes corresponding Graph/Chart) EU-81
Commercial Property Insurance EU-81
Table 63: French Commercial Property Insurance Market
(2002): Premiums by Category in Euro Billion (includes
corresponding Graph/Chart) EU-81

3c. Auto Insurance EU-82
High Mortalities from Auto Accidents EU-82

3d. Marine Aviation Transport (MAT) Insurance EU-83
Table 64: French MAT Insurance Market (2005): Percentage
Breakdown of Premium Income by Category - Aviation, Cargo,
Hull, and Space (includes corresponding Graph/Chart) EU-83

Table 65: French Marine Insurance Market (2004): Percentage
Market Share for Allianz, AXA, Generali, Groupama, and Others
(includes corresponding Graph/Chart) EU-83

Table 66: French MAT Insurance Market (2002): Premium Income
by Category in Euro Million (includes corresponding
Graph/Chart) EU-84
Marine and Transport Insurance Market Recovers EU-84

4. Reinsurance EU-85
Table 67: French Recent Past, Current & Future Analysis for
Reinsurance Industry by Segment - Life & Non-Life Markets
Independently Analyzed with Gross Premium Income in Euro
Billion for the Years 2005 through 2009 (includes
corresponding Graph/Chart) EU-85

Table 68: French 5-Year Perspective for Reinsurance Industry
by Segment - Percentage Breakdown of Gross Premium Income for
Life and Non-Life Markets for 2005, 2007, and 2009 (includes
corresponding Graph/Chart) EU-86

Table 69: French Reinsurance Industry (2006 & 2007):
Percentage Breakdown of Gross Written Premiums by Leading
Companies for Scor, Axa Re, CCR, Partner Re, Paris Re and
Others (includes corresponding Graph/Chart) EU-86

5. Distribution EU-87
Insurance Distribution Methods in France - A Comparison EU-87
Distribution Channels Play a Vital Role EU-87
Table 70: French Property & Casualty (P&C) Insurance Market
(2006 & 2007): Percentage Breakdown of Premium Income by
Distribution Channel - Tied Agents, Direct Writing
Companies, Brokers, Bancassurance, Salaried Sales Associates
and Other Alternative Channels (includes corresponding
Graph/Chart) EU-88

Table 71: French Life Insurance Market (2005): Percentage
Breakdown of Life Insurance Policy Distributors - Banks,
Brokers, Employee Networks, General Agents, and Others
(includes corresponding Graph/Chart) EU-88

Table 72: French Insurance Market (2004): Percentage
Breakdown of Premium Income by Distribution Channel
(includes corresponding Graph/Chart) EU-89
Product Launch EU-89
AXA Launches Group Individual Accident Insurance EU-89

6. Recent Industry Activity EU-90
HSBC France to Buy Remaining Stake in Erisa and Erisa IARD EU-90
CNP Acquires Ecureuil EU-90
AXA France to Acquire Nationale Suisse EU-90
Axa to Acquire Winterthur Group from Credit Suisse Group EU-90
SCOR to Acquire Revios EU-91
Stone Point Capital to Acquire AXA Ré EU-92
Forum Assurances Merges Forum Assurances with Resolution EU-92
ACE Sells its Three Run-off Re-insurance Subsidiaries EU-92
Cardif Announces Plans to Tap Latvian Insurance Market EU-92
Groupama to Acquire Liguria Assicurazioni EU-92
Aon Corp Acquires Lange SA EU-93
Suravenir to Acquire GE Assurances Vie Plus EU-93
Wellington Acquires AXA’s Insurance Business EU-93
Coface Acquires Arkwright Insurance EU-93

7. Strategic Developments in the Past EU-94
General Re Corp. Acquires Stake in KRG EU-94
AXA Hikes Stake in Tecis EU-94
XL Capital and Five European Insurers form Joint Venture for
Terrorism Coverage EU-94
Scor Divests Stake in Coface EU-94
Gras Savoye & Cie Takes Over Dignac S.A. EU-94
AXA Acquires Stake in AXA Aurora Iberica EU-95
Axa Corporate Solutions Buys the Hong Kong Marine Business of
Markel EU-95
CNP Assurances Acquires Stake in Sasse EU-95
Groupama Insurances Forms New Division EU-95
Societe Generale Creates Inora Life EU-95

8. Focus on Select French Players EU-96
AXA Group EU-96
BNP Paribas Assurance, France - Fourth Largest Life-Insurance
Group in France EU-96
CNP Assurances. EU-96
Coface Group EU-96
Euler & Hermes SA EU-97
Groupama EU-97
Pacifica - Crédit Agricole EU-97
Scor SE EU-97

GERMAN INSURANCE INDUSTRY

1. German Insurance Industry - An Insight EU-99
Regulatory Reforms: Taxing the Future of Life? EU-99
Europe’s Largest Life Insurance Market EU-99
Table 73: German Recent Past, Current & Future Analysis for
Insurance Industry by Segment - Life & Non-Life Markets
Independently Analyzed with Annual Premium Income in US$
Million for the Years 2006 through 2010 (includes
corresponding Graph/Chart) EU-100

Table 74: German 5-Year Perspective for Insurance Industry by
Segment - Percentage Breakdown of Premium Income for Life and
Non-Life Markets for 2006, 2008, and 2010 (includes
corresponding Graph/Chart) EU-100

Table 75: German Insurance Industry (2006): Per Capita
Premium in US$, and Penetration of Insurance by Category -
Life and Non-Life EU-101
Abroad Business of German Companies EU-101
Table 76: German Insurance Industry (2007 & 2008): Percentage
Breakdown of Premiums Written Abroad by German Insurance
Companies by Category - Non-Life Insurance (Marine, General
Liability, Fire & Other Property, Accident/Health and Other
Insurance Class) and Life Insurance (includes corresponding
Graph/Chart) EU-101
September 11 Attacks Spur the Emergence of Reinsurance Agencies EU-101
Table 77: German Recent Past, Current & Future Analysis for
Reinsurance Industry with Annual Premium Income in Euro
Million for the Years 2006 through 2010 (includes
corresponding Graph/Chart) EU-102
Insurance Linked to the Economy EU-102
Challenges Facing the Sector EU-103

2. Industry Structure EU-104
Table 78: German Insurance Industry (2005 & 2006): Percentage
Breakdown of Gross Written Premiums in Private Insurance
(Direct Business) by Category -Life Assurance, Private Health
Insurance, Non-Life Insurance (Accident, General Liability,
Legal Expenses, Motor, Marine, Property, and Credit) (includes
corresponding Graph/Chart) EU-104

Table 79: German Insurance Industry (2005 & 2006): Percentage
Breakdown of Claims Paid by Direct Insurers (Within GDV) by
Category -Life Assurance, Private Health Insurance, Non-Life
Insurance (Accident, General Liability, Legal Expenses, Motor,
Marine, Property, and Credit) (includes corresponding
Graph/Chart) EU-104

Table 80: German Insurance Industry (2005): Percentage
Breakdown of Investments by Private Insurers by Category -
Life Assurance, Health Insurance, Non-Life Insurance, and
Reinsurance (includes corresponding Graph/Chart) EU-105

Table 81: German Insurance Industry (2005): Number of Agents
and Brokers Employed (in Thousands) by Type - Insurance
Brokers, Independent Full-Time Agents, and Part-Time Agents
(includes corresponding Graph/Chart) EU-105

Table 82: German Reinsurance Market (2005 & 2006): Gross and
Net Premiums in € Million by Category - Life/Health, Property
& Casualty, Financial Reinsurance, and Specialty Reinsurance
(includes corresponding Graph/Chart) EU-105

Table 83: German Reinsurance Industry (2007 & 2008):
Percentage Breakdown of Premium Income by Category - Life,
Fire, Motor, General Liability, Private Accident, Marine and
Others (includes corresponding Graph/Chart) EU-106
Insurance Penetration in German Households EU-106
Table 84: German Insurance Industry (1991-2004): Insurance
Penetration Rate in German Households (In %) (includes
corresponding Graph/Chart) EU-107
Personal Lines Remain A Terrain for Few EU-107
P & C Retains Vitality with Steadier Pricing in Commercial Lines EU-107
Consolidation Scenario EU-107
Significance of a Single Market EU-108
Table 85: German Insurance Industry (2004 & 2005): Number of
Insurance Companies by Sector for Life, Health, Non-Life, and
Reinsurance (includes corresponding Graph/Chart) EU-108

Table 86: German Insurance Industry (1990-2006): Number of
Insurance Companies by Sector for Life, Health, Non-Life,
and Reinsurance (includes corresponding Graph/Chart) EU-109

3. Outlook EU-110

4. Life Insurance Sector EU-111
Life Insurance Market Trends - Review of First Half of 2006 EU-111
Highlights EU-111
Table 87: German Life Insurance Industry (2007 & 2008):
Percentage Breakdown of Premiums by Category - Endowment,
Annuities & Pensions, Unit-Linked Endowment & Annuity,
Collective Policies and Supplementary Insurance (includes
corresponding Graph/Chart) EU-112

Table 88: German Life Insurance Industry (2005): Percentage
Value Breakdown of Life Annualized New Business by Business
Type - Individual Insurance Contracts (Annuities & Pension,
Dependency Annuity, Disability, Endowment, Term Insurance,
Others) and Group Insurance Contracts (Endowment, Residual
Debt, Term Insurance, and Others) (includes corresponding
Graph/Chart) EU-112

Table 89: German Life Insurance Industry: Gross Written
Premium in US$ Billion for 1999-2002 (includes corresponding
Graph/Chart) EU-113
Market Players EU-113
Table 90: Leading Players in German Life Insurance Market
(2004): Percentage Market Share by Company - Allianz, AXA,
Debeka, Generali, HDI (Talanx), Munich Re, R+V, Zurich, and
Others (includes corresponding Graph/Chart) EU-113

Table 91: German Life Insurance Industry (2003): Gross
Written Premium in US$ Billion by Leading Companies for
Allianz Leben, Hamb. Mannheimer LV, Aachener/Mchn Leben, R+V
Lebensvers AG, DT. Herold Leben, Victoria Leben,
Volksfursorge DT LV, Axa Leben, Debeka Leben, and Gerling-K.
Leben (includes corresponding Graph/Chart) EU-114

Table 92: Leading Players in the German Life Insurance
Market (2002) - Gross Written Premiums in US$ Million for
Allianz Leben, Aachener/Mchn. Leben, Hamb. Mannheimer LV, R+V
Lebensvers. AG, and DT. Herold Leben (includes corresponding
Graph/Chart) EU-114

5. German Pension Market EU-115
Compulsory Pension (Contributory State Pension) EU-115
Occupational Pension (Voluntary) EU-115
Types of Occupational Pension EU-115
Book Reserves EU-115
Retirement Funds (Pensionskasse) EU-115
Direct Insurance EU-115
Support Fund EU-116
Pension Fund EU-116
Personal Pensions and Other Retirement Savings (Voluntary) EU-116

6. Health Insurance EU-117
Market Highlights EU-117
Table 93: German Health Insurance Industry: Gross Written
Premium in US$ Billion for 1999-2003 (includes corresponding
Graph/Chart) EU-117
German Health Insurance Industry - Market Statistics of 2005
& First Half of 2006 EU-117
Private Health Insurance Sector EU-118
Table 94: German Private Health Insurance Market (2005):
Premiums in € Billion by Business Segment - Health Insurance
(Daily Benefits Insurance, Independent Hospital Cash Schemes,
Medical Expenses Insurance, Special Types of Insurance, and
Other Independent Partial Insurances) and Compulsory
Long-Term Care Insurance (includes corresponding Graph/Chart) EU-119
Health Insurance & Pension Schemes Cover Major Share of
Cancer Costs EU-119
Health Insurance and Insurers’ Predicament EU-119
Major Players in the German Private Health Insurance Sector EU-120
DKV Deutsche EU-120
Signal EU-120

7. Non-Life Insurance Sector EU-121
Table 95: German Non-Life Insurance Industry (2007 & 2008):
Percentage Breakdown of Premium Income by Class - Motor,
Property Insurance, Private Accident, General Liability, Legal
Expenses and Others (includes corresponding Graph/Chart) EU-121

Table 96: German Non-Life Insurance Industry (2005): Premium
Income and Claims Paid in € Billion for Select Classes
  • General Liability, Legal Expenses, Marine, Motor Insurance,
Motor Liability, Motor Accident, and Private Accident
Insurance (includes corresponding Graph/Chart) EU-122
Market Players EU-122
Table 97: German Non-Life Insurance Industry (2003): Gross
Written Premium in US$ Billion by Leading Companies for
Allianz Vers., Axa Vers., Gerling-K. Allgemeine, R+V
Allgemeine Vers., Zurich Vers. AG, HUK-Coburg, Victoria
Vers., Wurtt. Vers., Gothaer Allg. Vers. AG, and LVM Sach
(includes corresponding Graph/Chart) EU-122

Table 98: Leading Players in the German Non-Life Insurance
Market (2002) - Gross Written Premiums in US$ Million for
Allianz Vers., AXA Vers., Gerling-K. Allgemeine, R+V
Allgemeine Vers., and Zurich Vers. AG (includes corresponding
Graph/Chart) EU-123
Property Insurance EU-123
Highlights EU-123
Table 99: German Non-Life Property Insurance Market (2005 &
2006): Percentage Breakdown of Gross Written Premiums in
Private Insurance (Direct Business) by Segment - Agricultural
Property Insurance, Commercial Property Insurance, Industrial
Property Insurance, and Private Property Insurance (includes
corresponding Graph/Chart) EU-124

Table 100: German Non-Life Property Insurance Market (2005 &
2006): Percentage Breakdown of Claims Paid by Direct Insurers
(Within GDV) by Segment - Agricultural Property Insurance,
Commercial Property Insurance, Industrial Property Insurance,
and Private Property Insurance (includes corresponding
Graph/Chart) EU-124
Motor Insurance EU-125
Table 101: German Motor Insurance Market (2006 & 2007):
Percentage Breakdown of Premiums by Category - Third Party
Liability, Full Comprehensive and Partial Comprehensive
(includes corresponding Graph/Chart) EU-125

Table 102: German Motor Insurance Market (2006 & 2007):
Percentage Breakdown of Claims by Category - Third Party
Liability, Full Comprehensive and Partial Comprehensive
(includes corresponding Graph/Chart) EU-126

Table 103: Leading Players in German Motor Insurance Market
(2006 & 2007): Percentage Market Share by Company - Allianz,
R & V, AMB Generali, Zurich, Axa, LVM, VHV, HDI, DEVK, and
Others (includes corresponding Graph/Chart) EU-126

Table 104: German Motor Insurance and Other Non-Life
Insurance Market: Gross Written Premium (GWP) in US$ Million
for 1999-2003 - Historic Data (includes corresponding
Graph/Chart) EU-127
Natural Catastrophe Insurance EU-127

8. Direct Writing in Germany EU-128

9. German Financial System EU-129
A Comparative Study of the US and German Financial Systems EU-129

10. Key Legislative Measures and Plans EU-130
Asset Valuation Rules Simplified EU-130
IDW’s New Guidelines in Germany EU-130
Private Health Funds Receive Boost EU-130

11. Insurance Pools EU-131
Extremus EU-131
Protektor Lebensversicherungs-AG EU-131
Essential Features of Protektor AG EU-131

12. Role of GDV (Gesamtverband der Deutschen Ver-
sicherungswirtschaft) EU-132

Key Statistics of GDV Members EU-132
Table 105: Premiums Written for GDV Members by Insurance
Class in DM Billion (1999 & 2000) (includes corresponding
Graph/Chart) EU-132

Table 106: Benefits and Claims Covered by Insurance Class for
GDV Members in DM Billion (1999 & 2000) (includes
corresponding Graph/Chart) EU-133

13. Historic Review of Various Insurance Sectors EU-134

Motor EU-134
Homeowners EU-134
Fire EU-134
Health EU-134
Life EU-134

14. Product Developments EU-135
Allianz Releases Catastrophe Bond EU-135
Euler Hermes to Launch Export Credit Insurance in Japan EU-135
Industrial Health Funds Provide Insurance Cover for
DocMorris.com’s Drugs EU-135
Munich Re Offers Policy for World Cup EU-135

15. Recent Industry Activity EU-136
AIG Acquires Württembergische und Badische Versicherungs EU-136
Zurich to Acquire Real Garant Versicherung AG EU-136
TietoEnator Divests Reinsurance and Leasing Operations EU-136
Allianz to Acquire Allianz Leben and AGF EU-136
Talanx to Acquire BHW Leben EU-137
Flowers Negotiates with Prospects for Sale of Wuba EU-137
Fortis Acquires Gutingia EU-137
Allianz Versicherung Splits to Form Allianz Global Corporate
& Specialty EU-137
Munich Re Finds a Buyer for Stake in HVB EU-137
HBOS Strides Ahead for Pocketing MLP Life Insurance Company EU-138
Gothaer Proposes to Acquire Axa’s Darag EU-138
Allianz to Expand Business in China EU-138

16. Strategic Corporate Developments in Past EU-139
Allianz Divests Life Insurance Business EU-139
Allianz Buys 49% Stake in JV with AGF Insurance EU-139
Coface Gains Gerling’s Credit Insurance Operations in Denmark
and the Netherlands EU-139
AXA Hikes Stake in Tecis EU-139
Allianz Purchases Stake in Rosno EU-139
Munich Reinsurance Forms a Spanish Joint Venture EU-139

17. Focus on Select German Players EU-140
Allianz SE EU-140
Debeka Krankenversicherungsverein auf Gegenseitigkeit - A
Leading Insurer in Germany EU-140
DKV Deutsche Krankenversicherung AG - One of the Leading
German Insurers EU-140
Atradius EU-140
Hanover Re Group EU-141
Muenchener Rueckversicherungs-Gesellschaft AG EU-141

ITALIAN INSURANCE INDUSTRY

1. Italian Insurance Industry - A Perspective EU-142
Table 107: Italian Insurance Industry (2005): Premium Income
in US$ Billion, Per Capita Premium in US$, and Penetration of
Insurance by Category - Life and Non-Life EU-142

Table 108: Italian Insurance Industry (2002 & 2003): Total
Premium in Euro Million by Category (includes corresponding
Graph/Chart) EU-143

Table 109: Italian Insurance Industry (1993-2002): Total
Premium in Euro Million by Life and Non-Life Category
(includes corresponding Graph/Chart) EU-144

Table 110: Italian Recent Past, Current & Future Analysis for
Motor Insurance with Gross Written Premiums in Euro Billion
for the Years 2004 through 2008 (includes corresponding
Graph/Chart) EU-144
Industry Structure EU-145
Table 111: Leading Players in Italian Insurance Market
(2004): Percentage Market Share by Company - Ass.
Internazionali Previdenza, Cattolica, Fondiaria - Sai,
Generali, RAS, Unipol, and Others (includes corresponding
Graph/Chart) EU-145

Table 112: Italian Insurance Market (2003): Number of
Domestic Insurance Companies by Judicial Nature and Business
Sector EU-145

Table 113: Italian Insurance Market (2003): Number of
Insurance Companies by Nature of Origin and Business Sector
(includes corresponding Graph/Chart) EU-146
Insurance - A Move Towards Rationalization EU-146
Banks in the Italian Insurance Business EU-146
Distribution System in Italian Insurance Industry EU-147
Table 114: Italian Life Insurance Market (2003): Total
Premium (in Euro Million) and Market Share (in %) by
Distribution Channels for Agents, Brokers, Direct Sales and
Financial Advisers (includes corresponding Graph/Chart) EU-147

Table 115: Italian Non-Life Insurance Market (2003): Total
Premium (in Euro Million) and Market Share (in %) by
Distribution Channels for Agents, Brokers, Direct Sales,
Bank Counters and Financial Advisers (includes corresponding
Graph/Chart) EU-147

2. Review of the Sectors EU-148

2a. Non-Life Insurance EU-148
Table 116: Leading Players in Italian Property & Casualty
Insurance Market (2004): Percentage Market Share by Company-
Fondiaria - Sai, Generali, RAS, Reale Mutua, Toro, Unipol,
and Others (includes corresponding Graph/Chart) EU-148

Table 117: Italian Non-Life Insurance Industry (2003): Gross
Written Premium in US$ Billion by Leading Companies for
Fondiaria-SAI, Ras, Generali, Milano, Assitalia, Winterthur,
Unipol, Lloyd Adriatico, Axa, and Reale Mutua (includes
corresponding Graph/Chart) EU-148

2b. Life Insurance EU-149
Table 118: Italian Life Insurance Market (1H-2006):
Percentage Breakdown of Direct Premium Volumes by Category-
Health, Capitalisation, Unit & Index Linked, Traditional, and
Pension Funds (includes corresponding Graph/Chart) EU-149

Table 119: Italian Life Insurance Market (1H-2006): Percentage
Breakdown of Direct Premium Volumes by Channel - Domestic
Insurers (Financial Advisors, Banks & Post Offices, Agents,
and Others) and EU Insurers (includes corresponding
Graph/Chart) EU-150
Market Leaders EU-150
Table 120: Top-Five Players in the Italian Life Insurance
Market (2003) - Gross Written Premiums in US$ Million for
Creditras, Sanpaolo, Poste Vita, Intesa, and Alleanza Life
Insurance Highlights (includes corresponding Graph/Chart) EU-150
Domestic Vs. Foreign Players EU-151
Performance of Distribution Channels EU-151
Liberalization of the Sector EU-151

2c. Pension Funds in Italy EU-152
Compulsory State Pension (Contributory) EU-152
Safety Net Pension (Non-Contributory) EU-152
Occupational Pension EU-152
Personal Pensions and Other Retirement Savings (Voluntary) EU-152
Pension Funds Revision Outlook EU-152
Types of Funds EU-153
Ordinary or Collective Pension Funds EU-153
Internal Pension Funds EU-153
Open-End Pension Funds EU-153
Promoters Vary According to the Type of Pension Fund EU-153
Pension Funds in Italy & Their Performance EU-154
Forms of Financing and Tax Problems EU-154
Development Prospects for the Pension Funds: The 90s Story EU-155
Table 121: Contribution of Different Sectors to The Pension
Fund (includes corresponding Graph/Chart) EU-155

Table 122: Private Sector Employees Contribution to
Pension Funds (includes corresponding Graph/Chart) EU-156
Pension Fund Managers EU-157
Competition Between Insurance Companies EU-157
Important Features Required for Successfully Competing in PF
Field EU-157
A Multinational Presence EU-157
Presence in the Domestic Market EU-157
Connections with the Corporate Sector EU-158
Size EU-158
Activity in the Financial Services Area EU-158
The Third Pillar Under Pension Funds EU-158

3. Recent Industry Activity EU-160
AXA to Expand Presence in Italian Insurance EU-160
Zurich Enters Belgium and Italian Markets EU-160
Swiss Life to Divest from Italian Insurance Market EU-160
Allianz Completes Merger With RAS EU-160
Generali Refutes Rumors of Takeover Attempts EU-160
Allianz Agrees to Merge RAS and Establish SE EU-160
Aon Corp. Acquires Lenzi Broker Assicurazioni SRL EU-161

4. Strategic Corporate Development in Recent Past EU-162

Societa Assicuratrice Industriale, Allies Pick Up Stake in La
Fondiaria EU-162
Aviva and UniCredito Italiano Sign Partnership Agreement with
BPCI EU-162
Aviva Signs Agreement with Unicredito Italiano EU-162
Consortium Increases Share in Assicurazioni Generali EU-162
Italian Post Office Introduces Pension Products EU-163

5. Focus on Key Player EU-164
Assicurazioni Generali EU-164

INSURANCE INDUSTRY IN THE UNITED KINGDOM

1. Market Overview EU-165
Table 123: UK Recent Past, Current & Future Analysis for
Insurance Industry by Segment - Life & Non-Life Markets
Independently Analyzed with Annual Premium Income in GBP
Billion for the Years 2006 through 2010 (includes
corresponding Graph/Chart) EU-165

Table 124: UK 5-Year Perspective for Insurance Industry by
Segment - Percentage Breakdown of Premium Income for Life and
Non-Life Markets for 2006, 2008, and 2010 (includes
corresponding Graph/Chart) EU-166

Table 125: UK Insurance Industry (2006): Per Capita Premium
in US$, and Penetration of Insurance by Category - Life &
Non-Life EU-166
Market Snippets EU-166
Health Insurance: An Illustrious Year EU-166
Internet Aids Growth of Travel Insurance Market EU-167
Table 126: UK Recent Past, Current & Future Analysis for
Travel Insurance Market in GBP Million for the Years 2006
through 2010 (includes corresponding Graph/Chart) EU-167

Table 127: UK Travel Insurance: Gross Written Premium in
Pound Million for Years 2001 through 2005 (includes
corresponding Graph/Chart) EU-167
Travel Insurance Sector Fueled by Britain’s Growing Emigrant
Community EU-167
Growing Popularity of Annual Insurance Policies to Drive
Travel Insurance Sector EU-168
Travel Insurance Markets Register Higher Value Growth EU-168
Increasing Foreign Trips Fuel Travel Insurance Penetration
Levels EU-168
Ageing Passengers to Fuel Insurance Sales EU-168
ATII Raises Concern on Travel Insurance Sales EU-168
Travel Insurance Intermediaries Express Disapproval over Sales EU-169
Travel Agents’ Share Declines for Travel Insurance
Distribution Channel EU-169
Rising Medical and legal costs Spiral Personal Injury Claims EU-169
Demand for Annuities Set to Rise Rapidly EU-169
UK Insurance Industry Snapshots EU-169
Relative to World EU-169
Relative to Europe EU-170
Relative to the UK EU-170
More Facts about the UK Insurance Industry EU-170
Get Set...Grow EU-170
Investigations Unearth Startling Facts EU-171

2. Structure of the UK Insurance Market EU-172
General & Long Term Insurance - A Unique Market Split EU-172
Market Concentration EU-172
Table 128: UK Insurance Market (2005): Number of Companies By
Category for General Insurance, Long-Term Business and Both
(includes corresponding Graph/Chart) EU-172

Table 129: UK Insurance Market (2005): Average Annual
Household Expenditure on Insurance in Pounds by Segment -
Home Buildings/Structure, Home , Income Protection,
Life Insurance, Medical, Motor, Mortgage Protection, and
Personal Pension (includes corresponding Graph/Chart) EU-173
Motor Insurance - A Highly Concentrated Market EU-173
Table 130: UK Private Motor Insurance Market: Net Written
Premium in Pound Billion for Years 2005 & 2006 EU-173
Private Motor Insurance Market Records Declining Profitability EU-174
Green Motor Insurance Line to Grow EU-174
An Increasing Car Insurance Premiums EU-174
In-Vehicle Telematics Technology for The UK Motor Industry -
A Brief EU-174
Motor Insurance Industry and Telematics EU-175
Aging Baby Boomers - A Concern in the UK Insurance Industry EU-176
High Proportion of Overseas Business EU-177
Table 131: UK Insurance Industry (2005): Percentage Breakdown
of New Business Premium Mix by Category - Mutual, Overseas,
UK Listed, and Others (includes corresponding Graph/Chart) EU-177
Stocks and Shares Rank Top line Choices for Insurers’
Investment Holdings EU-178
Table 132: UK Insurance Market (2005): Total Long Term and
General Insurance Investment Holding in £ Billion by Category
  • Public Sector Securities, Ordinary Stocks and Shares,
Property, Unit Trusts, and Cash and Other Investments
(includes corresponding Graph/Chart) EU-178

Table 133: UK Insurance Market (2004): Total Long Term and
General Insurance Investment Holding in £ Billion (includes
corresponding Graph/Chart) EU-179
Direct Writers - A Key Link in the Market Vertical EU-179
Fluctuating Regulations Cast a Spell of Chaos on the Industry EU-179
United Kingdom’s Insurance Market Unstable EU-180
‘Long Life’ Products Go Strong EU-180
Table 134: UK Life Insurance Industry: Life Annualized New
Business in US$ Billion and Percentage Value Breakdown of
LANB by Savings & Protection, Pensions, Pension Annuities and
Group Risk (Regular, Non-Profit) for the Years 2001, 2002,
2003, 2004, 2005 and 2010 (includes corresponding
Graph/Chart) EU-180
E-Commerce & Outsourcing - To Rise & Shine the UK Insurance
Sector EU-181
Investment Pattern EU-181
Consumer Trends EU-181
Women Not a Popular Target for Online Insurers EU-181
Consumer Preferences EU-181

3. Insurance Market Trends EU-183
Officers and Directors Insurance Market in the UK Registers
Stagnant Growth EU-183
Mutual Insurance Gains Ground Amid Adversities EU-183
Online Insurance on the Rise EU-183
Table 135: Online Insurance Growth in the UK (2002-2005):
Percentage Share of Online Sales of Motor and Home Insurances
(includes corresponding Graph/Chart) EU-184
Structural Insurance on Decline EU-184
Product Diversification and Service Differentiation Drive
Volumes EU-184
Personal Lines - A Wave of Reforms EU-185
Impact of Climatic Transitions on Insurance Industry EU-185
Citizens of The UK Resort to Insurers for Settling Neighborly
Disputes EU-185
London Insurance Market - An Overview EU-186
The UK Insurance Industry - An Overall Market Scenario EU-186
The UK Commercial Insurance Fraud EU-186

4. A Review of UK Insurance Industry Sectors EU-188
Long-Term Insurance EU-188
Table 136: UK Long Term Insurance Market (2005): Net Premium
Income in Pound Billion by Category - Group Pensions, Life &
Annuities, Individual Pensions, and Income Protection &
Other Business (includes corresponding Graph/Chart) EU-188

Table 137: UK Long Term Insurance Market (2005): Benefits
Paid in Pound Billion by Category - Life & Annuities, All
Pensions, and Income Protection & Other Business (includes
corresponding Graph/Chart) EU-188

Table 138: UK Long Term Insurance Market (2005): Individual
Business Policies in Million by Category - Life & Annuities,
All Pensions, and Income Protection & Other Business
(includes corresponding Graph/Chart) EU-189

Table 139: UK Long Term Insurance (2005): Percentage Market
Share of Sales by Category - Single Tie/Limited Range,
IFAs/Whole of Market, and Non-Intermediated (includes
corresponding Graph/Chart) EU-189

Table 140: UK Long Term Insurance (2000-2004): ‘Life &
Annuities’ Net Premium (NP) in US$ Billion and Percentage
Breakdown of NP by Regular and Single Premiums (includes
corresponding Graph/Chart) (includes corresponding
Graph/Chart) EU-189

Table 141: UK Long Term Insurance (2000-2004): Individual/
Other Pensions’ Net Premium (NP) in US$ Billion and
Percentage Breakdown of NP by Regular and Single Premiums
(includes corresponding Graph/Chart) EU-190

Table 142: UK Long Term Insurance (2000-2004): ‘Income
Protection’ Net Premium (NP) in US$ Billion and Percentage
Breakdown of NP by Regular and Single Premiums (includes
corresponding Graph/Chart) EU-190

Table 143: UK Long Term Insurance (2000-2004): Total
Benefits (TB) in US$ Billion and Percentage Breakdown of
Total Benefits by Pensions, Life & Annuities and Income
Protection (includes corresponding Graph/Chart) EU-191

Table 144: UK Long Term Insurance (2000-2004): Total Business
Policies (TBP) in US$ Billion and Percentage Breakdown of TBP
by Life & Annuities, Pensions and Income Protection Life
Insurance (includes corresponding Graph/Chart) EU-191

4a. Life Insurance EU-192
Table 145: Leading Players in the UK Insurance Market (2006):
Percentage Breakdown of Net Premiums by Company - Standard
Life, AVIVA Plc, Legal & General, Prudential, Lloyds TSB
Group, Aegon, ALICO, HBOS Financial Services, AXA, Canada Life
and Friends Provident (includes corresponding Graph/Chart) EU-192

Table 146: UK Life Insurance Market (2006 & 2007): Percentage
Market Share of Net Written Premiums by Category - Life
Insurance, Individual Pensions, Occupational Pensions, Income
Protection and Others (includes corresponding Graph/Chart) EU-193

Table 147: UK Life Insurance Market (2005 & 2006): New
Business Premiums (Regular) in Pound Million by Category -
Individual Pension, Group Pension, Individual Protection,
Group Protection, Investment & Savings, Collective Investment
& Schemes, Other Stakeholder Products, and Offshore Business
(includes corresponding Graph/Chart) EU-193

Table 148: UK Life Insurance Market (2005 & 2006): New
Business Premiums (Regular) by Distribution Channel - Single
Tie, IFAs/Whole of Market, and Non- intermediated (includes
corresponding Graph/Chart) EU-194

Table 149: UK Life Insurance Market (2005 & 2006): New
Business Premiums (Single) in Pound Million by Category -
Individual Pension, Group Pension, Individual Protection,
Pension Annuities & Income Drawdown, Investment & Savings,
Collective Investment & Schemes, Other Stakeholder Products,
and Offshore Business (includes corresponding Graph/Chart) EU-194

Table 150: UK Life Insurance Market (2005 & 2006): New
Business Premiums (Single) by Distribution Channel - Single
Tie, IFAs/Whole of Market, and Non- intermediated (includes
corresponding Graph/Chart) EU-195
Categorization of the UK Life Insurers EU-195
Restructuring of the Industry EU-195
Opportunities for Life Insurers EU-196
Life Insurance Prices to Drop in UK EU-196
Outlook for the Life Market EU-196
Industrial Branch Business EU-197
About Endowment Mortgages EU-197
Hybrid and Savings Plans - Futuristic in Nature EU-198
The Pension Sector EU-198
Table 151: UK Pension Market (2005): Total Funded Pensions
in £ Billion by Type - Self-Administered Pensions, Insurance
Individual Pensions, and Insurance Occupational Pensions
(includes corresponding Graph/Chart) EU-198
Compulsory Pension (Contributory State Pension) EU-199
Safety Net Pension (Non-Contributory State Pension) EU-199
Occupational Pensions (Voluntary) EU-199
Personal Pensions and Other Retirement Savings (Voluntary) EU-199
Stakeholder Pensions EU-199
Pension Credit EU-200
An Impetus to Sagging Pensions Market EU-200
Traded Endowment Policies (TEPS) EU-200
A Fast Growing Financial Services Segment EU-200
The Origins EU-201
Target Audience EU-201
Triple Benefits EU-201
Protection and Investor Considerations EU-201
Supply and Demand Scenario - A Historic Review EU-201
Table 152: Percentage of TEPS Offered by Life Companies to
Market Makers (includes corresponding Graph/Chart) EU-202

4b. General Insurance EU-203
Table 153: UK Non-Life Insurance Market (2006 & 2007):
Percentage Breakdown of Net Written Premiums by Category -
Motor, Property, Accident & Health, Pecuniary Loss, Liability
and Others (includes corresponding Graph/Chart) EU-203

Table 154: UK General Insurance Market (2005): Percentage
Breakdown of Sales by Channel -Banks/Building Societies,
Company Agents, Direct, Independent Intermediaries, Retailers/
Affinity Groups/ Utility Groups, and Others (includes
corresponding Graph/Chart) EU-203

Table 155: UK General Business Insurance Industry (2005):
Domestic Risk Net Written Premium (NWP) in £ Billion and
Percentage Breakdown of NWP by Sectors for Motor, Accident &
Health, Property, Pecuniary Loss and General Liability
(includes corresponding Graph/Chart) EU-204

Table 156: UK General Business Insurance (Excluding UK Risks)
Industry (2005): Net Written Premium (NWP) in £ Billion and
Percentage Breakdown of NWP by Home Foreign, Marine Aviation &
Transport, and Non-MAT Reinsurance (includes corresponding
Graph/Chart) EU-204

Table 157: UK Commercial Insurance Market (2005): Percentage
Breakdown of Claims by Business Sectors - Employers
Liability, Motor/Fleet Vehicle, Professional Indemnity,
Property, and All Risks Packaged Policy (includes
corresponding Graph/Chart) EU-205

Table 158: UK General Business Insurance Industry (2000-
2004): Domestic Risk Net Written Premium (NWP) in US$ Billion
and Percentage Breakdown of NWP by Sectors for Motor,
Accident & Health, Property, Pecuniary Loss and General
Liability (includes corresponding Graph/Chart) EU-205

Table 159: UK General Business Insurance (Excluding UK Risks)
Industry (2000-2004): Net Written Premium (NWP) in US$
Billion and Percentage Breakdown of NWP by Home Foreign,
Non-MAT Reinsurance and Marine Aviation & Transport (includes
corresponding Graph/Chart) EU-206
Underwriting Profits EU-206
Motor Insurance EU-206
Uncertain Future EU-206
Performance - A Perspective EU-207
Table 160: UK Motor Revenue Account (2005): Net Written
Premium (NWP) in Pound Million for Domestic and Commercial
Segments (includes corresponding Graph/Chart) EU-207

Table 161: UK Motor Revenue Account (2000-2004): Net
Written Premium (NWP) in US$ Billion and Percentage
Breakdown of NWP by Domestic and Commercial (includes
corresponding Graph/Chart) EU-207

Table 162: UK Motor Revenue Account (2000-2004): Claims
Incurred (CI) in US$ Billion and Percentage Breakdown of CI
by Domestic and Commercial (includes corresponding
Graph/Chart) EU-208
Competition Metamorphoses the UK Motor Industry EU-208
Private and Commercial Motor Market EU-209
Innovative Products at Low Premiums EU-209
Motor Insurance Offer Low Returns on Capital EU-209
Motor Cycle Claims EU-209
Effect of Competition and Pricing EU-210

4c. Property Insurance EU-211
Table 163: UK Property Damage Revenue Account (2005): Net
Written Premium (NWP) in £ Million by Domestic and Commercial
Segments by Category - Claims Incurred, Change in Provisions,
Commission & Expenses, and Equalization Reserves (includes
corresponding Graph/Chart) EU-211

Table 164: UK Property Damage Revenue Account (2000-2004): Net
Written Premium (NWP) in US$ Billion and Percentage Breakdown
of NWP by Domestic and Commercial Segments (includes
corresponding Graph/Chart) EU-211

Table 165: UK Property Damage Revenue Account (2000-2004):
Claims Incurred (CI) in US$ Billion and Percentage Breakdown
of CI by Domestic and Commercial Segments (includes
corresponding Graph/Chart) EU-212
Equalization Reserves EU-212
A Review of Past Performance EU-212
Property Insurance Loses Ground EU-212
Rate Hikes Indispensable EU-213
Intermediaries Command Distribution of Home Insurance EU-213
Price Sensitivity of Household Insurance Premiums EU-213
Determinants EU-214
Trend Towards Single Adult Homes EU-214
Brighter Prospects in the Offing EU-214
Competition Intensifies EU-214
SMEs Becoming Key Customers for Property & Liability Insurers EU-215

4d. Accident and Health Insurance EU-216
Table 166: Growth of Permanent Health Insurance Policies
(includes corresponding Graph/Chart) EU-217
Health Insurance Highlights EU-217
Critical-Illness Plan to Dominate UK Market EU-217
Corporate Sector Holds Hope for UK’s Health Insurance Market EU-217
Rising Private Medical Insurance Claims EU-218
Table 167: Ratio of the UK Working Age Over Pensionable Age
(includes corresponding Graph/Chart) EU-218
The Key for Retention EU-218
Long Term Care EU-218
Booming Long-Term Healthcare Insurance Market in the UK EU-218
Control of Personal Investment Authority EU-219
Outlook EU-219
Changes in UK Healthcare System - Impacts on Healthcare
Insurance EU-219

4e. General Liability Insurance EU-221
Types of Covers EU-221
Table 168: Liability Account Gross Premiums Written (£
Million) (includes corresponding Graph/Chart) EU-222
Accident Insurance Market Lurking with Unlimited Liability Cover EU-222

4f. Pecuniary Loss Insurance EU-224
Key Types EU-224
UK Creditor Insurance Market - An Overview EU-224
Table 169: UK Recent Past, Current & Future Analysis for
Credit Insurance Market in GBP Billion for the Years 2006
through 2010 (includes corresponding Graph/Chart) EU-225
Popularity of PPI Declines in Recent Years EU-225
PPI Affected by Negative Adulation EU-225
Regulatory Assessment Highlights Several Failures in
Creditor Insurance Industry EU-225
Commercial Insurance For Small Business EU-226
Commercial General Insurance Industry in the UK to Register
Robust Growth EU-226
Direct Writers Find Favor EU-226
Searching for More Niches EU-227
Brokers Calling the Shots EU-227
Soft Market Leads to Policy Changes EU-227

4g. Pet Insurance Market EU-229
‘Dogging’ the Pet Insurance Segment EU-229
Low Costs Spur Sales EU-229
Table 170: UK Recent Past, Current & Future Analysis for Pet
Insurance Market in US$ Million at Retail Price for the Years
2006 through 2010 (includes corresponding Graph/Chart) EU-229
Competitive Scenario EU-229
Table 171: Leading Players in UK Pet Insurance Market (2005):
Percentage Market Share by Company - Allianz Cornhill, AXA
Insurance, Domestic &General, Royal &SunAlliance, Thornside,
UKI Partnerships, and Others (includes corresponding
Graph/Chart) EU-230
Changing Market Conditions EU-230
Marketing and Distribution EU-230
Outlook EU-230

4h. Personal Lines Insurance EU-231
Home Insurance and Motor Insurance Rake in Most Subscriptions EU-231
Table 172: UK Insurance Industry (2004): Household
Expenditure by Percentage of Households Purchasing Insurance
and Annual Expenditure Per Household in £ (includes
corresponding Graph/Chart) EU-231
Key Players EU-231

5. UK - Post September 11 EU-232
London Goes the Subscription Way EU-232
Trends in Reinsurance EU-232

6. Key Market Trends/Issues - A Historic Review EU-233

Dismal Market Conditions EU-233
Bad Times for Insurers? EU-233
Soft Markets for Commercial Insurance and Reinsurance EU-233
Consolidation in the Insurance Market EU-234
Consolidations in the IFA Sector EU-234
IFAs Outlook Gloomy EU-234
Few Investors Choose to Invest in IFA’s EU-234
Flooding: A Cause of Concern for UK Insurers EU-235
Concentration in the Non-Life Insurance Market EU-235
Effect of Demographic Trends on Insurance Penetration EU-235
Table 173: Population Trends: 1990-2030 (includes
corresponding Graph/Chart) EU-236
Information Technology in Insurance EU-236
Distribution EU-237
Entry of Banks Into Insurance EU-237
Table 174: Leading Bancassurers in the UK by Net Reinsurance
Premium: 2000 (£ Million) (includes corresponding
Graph/Chart) EU-237
Work-Site Marketing Rising to New Heights EU-238

7. Marketing Strategies EU-239
Telemarketing in the UK Insurance Market EU-239
Advertisements EU-239
Direct Mail EU-239
E-commerce & M-commerce EU-240
Customer Relationship Management (CRM) EU-240

8. Regulatory Environment EU-241
Insurance Industry Joins Hands with CIFAS in Fraud Fighting
Initiative EU-241
Salient Features EU-242

9. Outlook EU-243
Future Trends EU-243

10. Market Minder: ‘Past’ Bites EU-244
Per Capita Insurance Expenditure EU-244
Table 175: Household Expenditure on Insurance by Type in the
UK: 2000 (includes corresponding Graph/Chart) EU-244
Premiums & Claims EU-244
Table 176: UK Motor Insurance Market (2002): Risks Premium
Income by Category in £ Billion (includes corresponding
Graph/Chart) EU-244

Table 177: UK Private Motor Insurance Market (2001-2002):
Percentage Breakdown of Premium Income by Distribution
Channels (includes corresponding Graph/Chart) EU-245

Table 178: UK Private & Commercial Motor Insurance Market
(2002) EU-245

Table 179: Long-Term Insurance Market in UK: 2000
(£ Billion) (includes corresponding Graph/Chart) EU-245

Table 180: Gross Premiums Written for UK Property/ Casualty
Insurers: 2000 & 1999 (In £ Million) (includes corresponding
Graph/Chart) EU-246

Table 181: UK Motor Insurance Business: 2000 (£ Billion
(includes corresponding Graph/Chart)) EU-246
Market Leaders EU-247
Table 182: Top-Five Players in the UK Life Insurance Market
(2002) - Gross Written Premium in US$ Million for Barclays,
Standard Life, Norwich Union, Prudential, and Halifax
(includes corresponding Graph/Chart) EU-247

Table 183: Top-Five Players in the UK Non-Life Insurance
Market (2002) - Gross Written Premium in US$ Million for
Norwich Union, Royal & Sun Alliance, Zurich, AXA, and
Churchill (includes corresponding Graph/Chart) EU-247

Table 184: Leading Players in the UK Private Motor Insurance
Market (2002): Companies Ranked by Gross Earned Premium in £
Million and Vehicle Exposure in ‘000 Vehicle Years (includes
corresponding Graph/Chart) EU-248

Table 185: Leading Players in the UK Commercial Motor
Insurance Market (2002): Companies Ranked by Gross Earned
Premium in £ Million and Vehicle Exposure in ‘000 Vehicle
Years (includes corresponding Graph/Chart) EU-249

Table 186: Leading Insurance Players in the UK (2000):
Company/Group Ranked by Premiums Written in US$ billion for
CGU, Royal & Sun Alliance, Guardian Royal Exchange, BUPA,
Corn hill, Z.F.S. Group, Direct Line, NFU, Independent Group
and GE Financial (includes corresponding Graph/Chart) EU-250

Table 187: Leading Life Insurers in the UK by Net
Reinsurance Premium: 2000 (£ Million) (includes
corresponding Graph/Chart) EU-250
Investment Holdings EU-251
Table 188: Break Up of Total Long-Term and General Insurance
Investment Holdings in 2000 (£ Billion) (includes
corresponding Graph/Chart) EU-251

11. Review of the Sectors: Mid-90s EU-252
Table 189: Non-Life Investments Distribution in the UK
Composites Market: 1994 (includes corresponding Graph/Chart) EU-252
Motor EU-253
Table 190: UK Private Motor Underwriting Ratios (%)
(includes corresponding Graph/Chart) EU-253

Table 191: Premium of the Composites Under Motor: Mid-90s
(£ Million) (includes corresponding Graph/Chart) EU-253

Table 192: The UK Private Motor Insurance Market: 1994-96
(£ Million) EU-254

Table 193: UK Commercial Motor Underwriting Ratios (%)
(includes corresponding Graph/Chart) EU-254

Table 194: UK Commercial Motor Gross Premiums: Mid-90s
(£ Million) (includes corresponding Graph/Chart) EU-255

Table 195: Commercial Motor Premium Distribution: 1989 vs.
1993 (includes corresponding Graph/Chart) EU-255
Property EU-256
Table 196: UK Commercial Property (Including Other)
Underwriting Ratio (%) (includes corresponding
Graph/Chart) EU-256

Table 197: Net Written Property/Casualty Premium
Distribution By Line: 1994 ($ Million) (includes
corresponding Graph/Chart) EU-256
Liability EU-257
Table 198: Breakup of Liability Among the Composites in the
Mid-90s EU-257

Table 199: Written Premiums in £ Million: 1993 (includes
corresponding Graph/Chart) EU-257

Table 200: Occupational Disease Claims in Terms of
Percentage (includes corresponding Graph/Chart) EU-258
Accident & Health EU-258
Table 201: Pecuniary Loss - Net Premiums Written and
Underwriting Results by Company (£ Million) EU-258
Life .UK-259
Table 202: Life Premiums in Total Premiums of the Composites
(includes corresponding Graph/Chart) EU-259
London - An Integral Part of the UK Insurance Industry EU-259
Composition of the Market EU-259
Marine & Energy Insurance Market EU-260
Reinsurance in the London Market EU-260
The London Market Consolidation EU-261

12. Product Innovations / Service Introductions EU-262
Buddies Launches Discount Pet-Insurance Scheme EU-262
Post Office Introduces New Life Insurance Policy EU-262
Direct Line to Introduce Four New Commercial Insurance Policies EU-262
Zurich to Re-Launch its Home Solutions Product EU-263
Markel International Introduces Medical Malpractice Product EU-263
Tesco Launches Cheap Health Insurance EU-263
Hiscox Rolls Out New Insurance Policies EU-263
Halifax Rolls Out New Insurance Product EU-263
Sterling Life Offers Life Cover for Armed Forces EU-263
Allianz Re-Launches Motor Trade Product EU-263
WPA Introduces Mycancerdrugs EU-263
Lloyds Offers Free Cover EU-264
Groupama Re-Launches Optima Bike EU-264
UK Post Office Launches Van Insurance EU-264
BIBA Launches PPI Products EU-264
BIBA Rolls Out Late-Night Entertainment Cover Product EU-264
R&SA Offers Insurance to Renewable Energy Sector EU-264
BUPA to Launch Space Insurance EU-264
Swiftcover to Launch a Mobile Phone Based Service EU-265
Norwich Union Introduces Innovative Life Insurance Coverage EU-265
Norwich Union Introduces New Online Motor Insurance Policy EU-265
Tesco to Provide Private Health Insurance EU-265
Norwich Union Introduces Guaranteed Whole Life Policy EU-265
MoreThan Provides Low-Cost Insurance to Young Motorists EU-265
Friends Provident Provides Tax Relief With New Life Cover EU-266
Swiftcover Expands Online Insurance Operations EU-266
Virgin Money Introduces Cancer Insurance EU-266
Prudential Launches PMI Policy EU-266
ADN Unveils Novel Insurance Services for UK Auto Dealership
Market EU-266

13. Product Launches in the Past EU-267
Western Provident Association Launches Flexible Health Plan EU-267
Norwich Union Launches Group PMI Product for Corporate Customers EU-267
Norwich Union Introduces Future Assured Plan EU-267
Norwich Union Releases Impaired Life Annuity Scheme EU-267
Medicash Introduces a Healthcare Cash Plan EU-268
Berkeley Alexander Unveils Individual Private Medical
Insurance Plan EU-268
Liverpool Victoria Introduces New Product EU-268
AIG Europe Introduces Healthnow EU-268
SecureHealth Introduces Options EU-269
Royal & Sun Alliance European Life & Investments Launches
Balanced Yield Fund EU-269
Norwich Union Introduces Improved Version of Long-Term Care
Insurance EU-269
Unum Launches Improved Elixia 123 EU-269
BITA Plus Consultants Launches Risk Analysis and Reporting
Service EU-269
Hiscox Launches Online Service EU-269
Clerical Medical International Offers New Version of CMI
Premier Bond EU-270
Profin Launches Miscellaneous E&O Policy EU-270
“Franchised Auto Dealers” from Royal & Sun Alliance EU-270
Willis Deploys War Risk Products EU-270
Zurich Life Launches New Whole-Of-Life Policy EU-271
Norwich Union Launches Garden Insurance Package EU-271
Liverpool Victoria Launches Comprehensive Mortgage Payment
Protection Insurance Plan EU-271
Skandia Offers Two New Life Insurance Programs EU-271
MAP Underwriting Offers Insurance Coverage for Political
Violence EU-271
Legal & General Launches New Protection Plans Under
Protection Choices Brand Name EU-272
Royal & Sun Alliance Launches New Plan for Non-Resident UK
Citizens EU-272
Royal & Sun Alliance Rewards Safe Drivers with ‘More Than’ Plan EU-272
Canada Life International Adds New Features to Offshore
Flexible Life Plan EU-272
BUPA International Adds Health Care Options to Insurance Policy EU-272
BUPA International Introduces Company First EU-272
Miller Insurance Group Offers Stand-Alone Terrorism Insurance EU-273
21st Century Launches Hospital Advantage Plan EU-273
Inreon Ltd. Launches EURO CAT EU-273
Skandia Introduces New Plans EU-273
Bank of Scotland Offshore Introduces Second Model of Save and
Invest Product EU-273
AA Insurance Launches Online Customer Service Package EU-273
BUPA Creates Online Service for Complete Private Medical
Insurance Cover EU-273
Standard Life Healthcare and Policy Master Together Offer
Insurance Products EU-274

14. Recent Industry Activity EU-275
Tawa Acquires Continental Management Services EU-275
Assurant Solutions Takes Over Centrepoint Insurance EU-275
THB to Acquire Lloyd’s Broking Business and Overseas
Interests of PWS EU-275
AIG Takes Over Direct Travel Insurance EU-275
AXA Acquires Davis Group EU-275
PHP Acquires Home Counties Healthcare’s Medical Insurance
Business EU-276
Pearl Assurance Acquires Resolution EU-276
Aviva Acquires Two Hamilton Companies and Forms New Agreements
with HSBC EU-276
Assurant’s UK Affiliate Takes Over Swansure Group EU-276
AXA & BMPS to Form a Strategic Partnership EU-276
AXA to Acquire Ukrainian Insurance Alliance EU-277
AXA to Divest Dutch Insurance Operations EU-277
HSBC Enters into Joint Venture with Aviva EU-277
AXA and UkrSibbank to Acquire Vesko EU-277
LV= Commences Brokerage Business EU-277
Genworth Partners with GMAC EU-277
Allianz Cornhill Collaborates with Game EU-278
Asda and LifeSearch Enter into Partnership EU-278
Aegon Scottish to Deploy Thinc’s Distribution Platform EU-278
HSBC to Form JV with Norwich Union EU-278
Munich Re Acquires Bell & Clements EU-278
Aegon Enters into Distribution Pact with Dunfermline EU-278
Skandia to Consolidate UK Businesses EU-279
Allianz Cornhill Changes its Name to Allianz Insurance EU-279
LV= Forms Partnership with Help the Aged EU-279
Prudential and Discovery Forms JV EU-279
Norwich Union Outsources Administration to Swiss Re EU-279
AXA PPP Acquires Legal & General EU-279
AXA to Acquire Swiftcover EU-280
L&G and Nationwide Enters Distribution Pact EU-280
R&SA Bags New Contract EU-280
K Drewe and BIBA Enter into Collaboration EU-280
Prudential to Divest Egg EU-280
Equity and Nissan Forms Partnership EU-280
Standard Life and Summit to Offer Cover for Climbers EU-281
Alliance and Leicester Enters Car Insurance Business EU-281
IAG Acquires Equity EU-281
Beazley Snaps Up Santam Corporate EU-281
Resolution Life to Merge Life Insurance Businesses EU-281
Friends and Resolution Negotiate for a Prospective Merger EU-281
Bank of Georgia Merges BCI and Aldagi EU-281
Ariel Acquires Atrium EU-282
Enstar Group Buys Cavell Management EU-282
American International to Acquire Ocean Finance & Mortgages EU-282
CIGNA Acquires Vielife EU-282
Swiss Re bids for Prudential’s Division EU-282
Liverpool Victoria Snaps Up ABC Insurance EU-282
Generali to Acquire Aviva EU-282
Abbey Exits Life Business EU-283
Axa to Takeover Thinc Destini EU-283
Lloyds TSB Acquires Pearl’s General Insurance Business EU-283
Citibank to Collaborate with Legal & General to Offer Insurance EU-283
Barclays to Sell Standard Life’s Insurance Products EU-283
CFS Forms a New Wing for General Insurance EU-283
AIG to Commence Bulk Annuity Operations in The UK EU-283
Asda and Scottish Widows End Alliance EU-284
Scottish Re to Secure a New Investment of $ 600 Million EU-284
Oxygen Holdings Completes Acquisition of Smart & Cook EU-284
Resolution Life Confirms Talks Related to Prospective
Transactions EU-284
Royal & SunAlliance Plans Acquisition of Martello Underwriting EU-284
Allianz Cornhill and Argos Sign Agreement for Furniture
Insurance EU-285
Towergate Snaps Up Paymentshield EU-285
Catlin To Acquire Wellington Underwriting EU-285
Bank of America to Divest Premium Credit EU-285
Berkshire Hathaway to Meet Liabilities of Lloyd EU-285
Reliance Mutual to Acquire University Life EU-286
Zurich to Acquire Endsleigh EU-286
Groupma to Allow Carole Nash to Function as a Distinct Entity EU-286
Swinton to Merge With its4me.co.uk to Boost Online Business EU-286
Swiss Re Acquires UK GE Life Business EU-287
Capita Life & Pensions Bags Contract from Scottish Life EU-287
Resolution Acquires Abbey National’s Life Insurance Business EU-287
Royal Liver to Enter Guaranteed Critical-Illness Market EU-287
Aviva PLC Acquires RAC EU-287
Imagine Acquires Abacus EU-288
HCC Proposes to Buy IIG EU-288
Beazley Group Acquires OPCI EU-288
Merrill Lynch & Co to Acquire AMVESCAP Retirement, Inc. EU-288
CLI Acquires Axis USA EU-288
Health Lambert Group Sells Health Insurance Brokers EU-288
St. Paul Sells Cassidy Davis EU-288
American Physicians Acquires Minority Interest in Physicians
Insurance Co EU-288
British Union Purchases Amedex EU-288
Navigators Group Acquires Lloyds Syndicate 1221 EU-289
Resolution Life’s Expansion Drive Continues EU-289
Sainsbury’s Bank to Start Auto Insurance Business EU-289
Prestbury Holdings to Launch General Insurance EU-289
Benchmark Causes Vibes in Investment Property Insurance EU-289
Primary Acquires Benchmark Management EU-289
CDC to Purchase Saga Ltd EU-290
Willis Group Holdings Ltd. Acquires Vision Insurance Group EU-290
Arthur J Gallagher Acquires the Kooper Group EU-290
Marsh Acquires the Australian Operations of Heath Lambert Group EU-290
Capital Z Financial Services Acquires SBJ Group EU-290
Royal & Sun alliance Divests UK Life Insurance Business to
Resolution Life Group EU-290
Crawley Warren Acquires International Space Brokers EU-290

15. Strategic Developments in the Past EU-291
UPC Buys Sun Life’s UK Operations EU-291
HCC Holdings Acquires Illium Insurance Group EU-291
Hilb Rogal & Hobbs Buy Alexander Brooks & Stevens Ltd EU-291
Norwich’s Flood Risk Mapping Holds Immense Implications for
the Industry EU-291
Gerling NCM Sets Shop in the UK EU-291
Primary Insurance Acquires UK Insurance’s Third Party Business EU-292
Canada Life Acquires Disability and Life Insurance Operations
of Royal & Sun Alliance Insurance EU-292
Earnest R Shaw Acquires Kendall White Millar EU-292
HSBC Group Acquires Stake in Ping An Insurance Co. EU-292
Aegon Acquires Stake in Wentworth Rose EU-292
Aegon Acquires Momentum EU-292
Aegon Acquires Advisory & Brokerage Services EU-293
Willis Group Increases Stake in Indonesian Subsidiary EU-293
Prudential Corp. Acquires ING Life Insurance EU-293
Amlin Purchases Renewal Rights from AIOI Insurance Co. of Europe EU-293
Scottish Annuity & Life Holdings Acquires World-Wide Reassurance EU-293
Heritage Underwriting Establishes Lloyd’s Syndicate EU-293
GE Frankona Re Establishes New Aviation Unit EU-293
XL Capital Assurance Establishes New Subsidiary in the UK EU-294
Aviva and UniCredito Italiano Sign Partnership Agreement with
BPCI EU-294
Aviva Signs Agreement with Unicredito Italiano EU-294
Cazenove Investment Fund Management and AIG Life in Agreement EU-294
Countrywide Assured Signs Agreement with Friends Provident EU-294
Royal & Sun Alliance Sells Offshore Life Operations EU-295
Jardine Lloyd Thompson Streamlines Business Operations EU-295
Axa Sun Life and Clerical Medical International Refocus
Operations EU-295
Marks & Spencer Offers Pet Insurance EU-295
Standard Life’s Stakeholder Pension Sales Slump EU-295
Royal & Sun Alliance Buys Loss Adjustment Unit of Independent
Insurance EU-296
AXA Insurance Purchases Website of Independent Insurance EU-296
Liverpool Victoria Acquires Permanent Insurance from
EquiTableLife EU-296
Prudential Acquires Orico Life Insurance EU-296
Eureko Purchases Foreign and Colonial Management Ltd. EU-296
CGNU Acquires ABN Amro Magyar Elet es Nyugdijbiztosito
Reszvenytarsasag EU-296
CGNU Acquires Insurance Division of the Development Bank of
Singapore EU-297
Vesta Insurance Group Acquires Instant Insurance Holdings and
Aegis Financial EU-297
EW Blanch, Ben field Greig Group Merge to Form Ben field Blanch EU-297
Prudential Acquires YoungPoong Life EU-297
Royal Sun Alliance Acquires Seguros BBV EU-297
CPP Holdings Acquires Homecare Holdings EU-297
Ben field Group, SG Set up Celsius Insurance EU-297
Groupama Insurances Forms New Division EU-298
Prudential Divests General Insurance Business to Winterthur EU-298

16. Focus on Select Players EU-299
Abbey National PLC EU-299
Allianz Corn hill EU-299
Amlin PLC EU-299
Aviva Plc - Fifth Largest Life Insurer in the World EU-299
Britannia Life EU-300
BUPA (British Union Provident Association) EU-300
Direct Line Plc EU-300
Ecclesiastical Insurance Group EU-300
Equity Insurance Group Limited EU-301
Groupama Insurances EU-301
Halifax Life. EU-301
Hiscox Ltd EU-301
Legal & General Group Plc EU-302
Lloyds of London EU-302
Lloyds TSB Group Plc EU-303
Lloyds TSB Life Assurance Company Limited EU-303
Markel International Ltd. EU-303
Nat West Life EU-303
NFU Mutual Insurance Co. EU-303
Prudential PLC EU-304
Royal & Sun Alliance Insurance Group EU-304
Scottish Widows plc EU-305
St. Paul International Insurance Co. Ltd. EU-305
St. Paul Travelers Insurance Company Limited EU-305
Standard Life PLC EU-305
The EquiTableLife Assurance Society EU-306
Leading Brokers in UK EU-306
HBOS PLC EU-306
Jardine Lloyd Thompson Group Plc EU-306
Willis Group Holdings Ltd., UK EU-306

INSURANCE INDUSTRY IN THE CZECH REPUBLIC

1. Insurance Market Overview EU-308
Table 203: Insurance Industry in Czech Republic (2005):
Premium Income in US$ Billion, Per Capita Premium in US$, and
Penetration of Insurance by Category - Life and Non-Life EU-308

Table 204: Czech Republic Insurance Industry (2004): Gross
Written Premium in US$ Million by Leading Players for Ceska
Pojistovna, Kooperativa, Allianz, CSOB pojicoeovna,
Nationale-Nederlanden, Generali, Pojistovna Ceske Sporitelny,
CPP, Komercni Pojistovna, UNI A, and Others (includes
corresponding Graph/Chart) EU-309
Czech Insurance Market on an Increasing Spree EU-309
The Czech Republic to Merge Insurance Collections EU-310
Changing Demographics Spell Growth for Insurance Products EU-310
Health Insurance Scenario Satisfactory EU-310
Failings of ‘Pay-as-you-Go’ System Propel Private Pension Funds EU-310

2. Industry Structure EU-311
Insurance Groups EU-311
Financial Services Companies EU-311
Major Financial Groups with Insurance Interests EU-312
Associations EU-312
Foreign Participation EU-312
Key Requirements for Insurers EU-313
Eligibility for Conducting Insurance Operations EU-313

3. Outlook EU-314
Headed for a Reforms-Driven Growth EU-314

4. An Overview of Distribution Channels EU-315
Direct Marketing EU-315
Bancassurance EU-315
The Internet EU-315
Multi-Level Marketing EU-315
Agencies EU-315
Insurance and Reinsurance Brokers EU-316
Independent Financial Advisers EU-316
Employee Benefit Consultants EU-316

5. Insurance Industry The Timeline EU-317

6. A Historical Perspective of the Market EU-318
2000-2001: A Review of the Market Constitution and Growth EU-318
Tax Relief Provision EU-318
Single-Premium Endowments Rise EU-318
Table 205: Czech Republic Life and Non-Life Insurance
Penetration (as % of GDP): 2001 EU-319

Table 206: Czech Republic Insurance Industry (2001): Premium
Written in US$ Million by Sector (includes corresponding
Graph/Chart) EU-319

Table 207: Czech Republic Insurance Industry (2001): Per
Capita Premium in US$ for Life and Non-Life Sectors EU-319

Table 208: Czech Republic Per Capita Life and Non-Life
Premium in Comparison with Neighboring Countries for 2001
(Premium per Capita in US$) (includes corresponding
Graph/Chart) EU-319

Table 209: Czech Republic Insurance Industry (2001):
Leading Companies by Premium Income in US$ Million
(includes corresponding Graph/Chart) EU-320
Foreign-Owned Companies in the Czech Republic: 2001 EU-320
Table 210: Break-up of Market Share Between Local and
Overseas Players for 2001 (includes corresponding
Graph/Chart) EU-320
Czech Insurance Sector Features Among Top 50 Markets for
Insurance Worldwide EU-321
Table 211: Czech Republic Insurance Industry (2000): Leading
Insurance Companies by Prescribed Premiums in Million
Korunas (includes corresponding Graph/Chart) EU-321

7. A Segmental Perspective EU-322

7a. Life Insurance Market Growing Steadily EU-322
Major Products EU-322
Term Life EU-322
Credit Life EU-322
Whole of Life EU-322
Key Man EU-323
Endowment EU-323
Unit-Linked Contracts EU-323
Common Riders EU-324
Underwriting Criteria EU-324
Distribution Scene EU-324
Leading Players EU-324
Table 212: Czech Republic Life Insurance Industry (2004):
Gross Written Premium in US$ Million by Leading Companies
for Ceska pojistovna, Kooperativa, ING
Nationale-Nederlanden, CSOB Pojistovna, Pojistovna CS,
Komercni pojistovna, Allianz, AMCICO AIG Life, Generali, and
Credit Suisse (includes corresponding Graph/Chart) EU-325

Table 213: Top-Five Players in the Life Insurance Industry
of Czech Republic (2002) - Gross Written Premium in US$
Million for Ceska Pojistovna, Nationale Nederlanden,
Pojistovna CS, CSOB Pojistovna, and Kooperativa Pojistovna
(includes corresponding Graph/Chart) EU-325

7b. Healthcare Insurance EU-326
Compulsory Insurance EU-326
Key Private Health Insurers EU-326
Group Schemes EU-326

7c. Pensions and Employee Benefits EU-327
Annuities EU-327
Government Pensions EU-327
Company Pensions EU-327
Background EU-328
Benefits Offered EU-328
Distribution Trends EU-329
Individual Pensions EU-329
Tax Benefits EU-329
Multinational Pools EU-330
Multinational Pools Representatives in the Czech Market EU-330
A Recent Past Market Review EU-330
Table 214: Pension Funds in the Czech Republic (1998-2001):
Members, Contributions and Assets (Members in Thousands,
Contribution and Assets in CZK Billion) (includes
corresponding Graph/Chart) EU-330

Table 215: Czech Pensions Market by Premium in US$ Million
for 1998-2000 (includes corresponding Graph/Chart) EU-331

Table 216: Czech Republic Insurance Industry (1999-2001):
Distribution of Pension Fund Members by Age Group (In %)
(includes corresponding Graph/Chart) EU-331

Table 217: Czech Republic Insurance Industry (1998-2001):
Growth in Pension Fund Contributions (In %) (includes
corresponding Graph/Chart) EU-331

Table 218: Leading Pension Funds in the Czech Republic by
Members and Assets for 2001 (Assets in CZK Million)
(includes corresponding Graph/Chart) EU-332
Owners of Leading Pension Funds in the Czech Republic EU-332
Table 219: Czech Republic Insurance Industry (1999-2001):
Percentage Breakdown of Investment Distribution of Pension
Assets (includes corresponding Graph/Chart) EU-333

Table 220: Czech Republic Insurance Industry (1998-2000):
Individual Pension Premiums Written by Life Insurers (In CZK
Million) (includes corresponding Graph/Chart) EU-333
Other Employee Benefit Plans EU-334
Table 221: Group Insurance Premiums by Class in Czech
Republic for 2000 (In CZK Million) (includes corresponding
Graph/Chart) EU-334
Group Life Assurance EU-334
Sickness Insurance EU-335
Regulatory Norms EU-335

7d. Non-Life Insurance Industry EU-336
Table 222: Czech Non-Life Insurance Market (2005): Percentage
Breakdown by Segment - MOD, MTPL, Property Ex-motor,
Workmens Compensation, Other Liability, and Others (includes
corresponding Graph/Chart) EU-336
Leading Players EU-336
Table 223: Czech Republican Non-Life Insurance Industry
(2003): Gross Written Premium in US$ Million by Leading
Companies for Kooperativa, Allianz, Generali, Pojstovna CS,
CSOB Pojistovna, CPP, UNIQA, AIG Czech Republic, and EGAP
(includes corresponding Graph/Chart) EU-336

Table 224: Top-Five Players in the Non-Life Insurance
Industry of Czech Republic (2002) - Gross Written Premium in
US$ Million for Ceska Pojistovna, Kooperativa Pojistovna,
Allianz Pojistovna, Pojistovna CS, and IPB Pojistovna
(includes corresponding Graph/Chart) EU-337

7e. Reinsurance EU-338
Investment Requirements EU-338
Reinsurance - Local Trends EU-338

8. Supervision EU-339
Insurance EU-339
Annual Returns EU-339
Pensions EU-339

9. Recent Industry Activity EU-341
Hagelversicherung to Setup Unit in Czech Republic EU-341
Raiffeisen Completes the Acquisition of eBanka EU-341
Australian BE Group to Enter Czech Republic Insurance Market EU-341

10. Strategic Developments During Recent Past (2000-2001) EU-342

11. Focus on Select Players EU-343
Ceska Pojistovna AS - Largest Insurer in the Czech Republic EU-343
CSOB Pojistovna, Czech Republic - Fourth Largest Insurer in
the Czech Republic EU-343
Kooperativa Pojistovna EU-343

RUSSIAN INSURANCE INDUSTRY

1. Industry at a Glance EU-344
Market Overview EU-344
Insurance Sector Representation EU-344
Table 225: Russian Recent Past, Current & Future Analysis for
Insurance Industry by Segment - Life & Non-Life Markets
Independently Analyzed with Annual Premium Income in US$
Billion for the Years 2006 through 2010 (includes
corresponding Graph/Chart) EU-345

Table 226: Russian 5-Year Perspective for Insurance Industry
by Segment - Percentage Breakdown of Premium Income for Life
and Non-Life Markets for 2006, 2008, and 2010 (includes
corresponding Graph/Chart) EU-345

Table 227: Russian Insurance Industry (2007 & 2008):
Percentage Breakdown of Premium Income by Category -
Property, Medical, Personal, Motor, Liability, Life and
Others (includes corresponding Graph/Chart) EU-346

Table 228: Russian Insurance Industry (2006 & 2007): Premium
Income in US$ Million by Leading Companies for Rosgosstrakh,
Ingosstrakh, Sogaz, Reso, Rosno, VSK, Kapital IG, Soglasie,
Uralsib IG, and Alfa (includes corresponding Graph/Chart) EU-346
Voluntary Vs. Compulsory Insurance EU-347
Table 229: Russian Insurance Market (2007 & 2008): Premium
Income in US$ Billion for Voluntary and Compulsory Insurance EU-347
Table 230: Russian Voluntary Insurance Market (2007 & 2008):
Percentage Breakdown of Market Share by Premium Income by
Category - Property Insurance, Personal Insurance, Liability
Insurance, Life Insurance and Others (includes corresponding
Graph/Chart) EU-347

Table 231: Russian Compulsory Insurance Market (2007 & 2008):
Percentage Breakdown of Market Share by Premium Income by
Category - Medical, Motor and Others (includes corresponding
Graph/Chart) EU-348

Table 232: Insurance Industry in Hong Kong (2006): Per Capita
Premium in US$ and Premium as % of GDP by Category - Life and
Non-Life EU-348
Rationalizing Growth EU-348
OMS Picks up Well EU-348
Consolidation Rife EU-349
Tax Waiver Boosts Life Insurance Sector Prospects EU-349
Automobile and Property Insurance To Rise And Shine In Future EU-349
Insurance Market Snapshots - A Review of Recent Past EU-349
Table 233: Russian Insurance Market (2003): Percentage
Breakdown by Insurance Premium in RR Billion by Category -
Mandatory Insurance (Mandatory Motor, Mandatory Medical
Insurance, Personal Passenger Insurance, State Insurance of
Military Personnel) and Voluntary Insurance (Liability
Insurance, Life Insurance, Personal Insurance (other than
life), and Property Insurance) (includes corresponding
Graph/Chart) EU-350

2. Market Trends and Issues EU-351
Financial Services Outlook: Insurance Industry to Expand EU-351
Non-life Segment to Drive Insurance Market in Russia EU-351
Insurance Industry Outpaces GDP Growth EU-351
Problems Galore EU-352
A Ray of Hope EU-352
Profitable Sectors EU-352
Regional Insurers Have a Major Say EU-353
High Level of Cross Border Reinsurance EU-353
Limitations of Russian Insurance Market EU-353
Small Business Insurance - The Next Big Thing EU-353
Insurance Companies Set Out on IPO EU-353

3. Role of Foreign Insurers in Russia EU-354
Problems Continue to Dog Foreign Players EU-354
Reinsurance Sector Led by Overseas Players EU-354

4. Regulatory Environment EU-355
The Supervisory Authority EU-355
Responsibilities of Department of Insurance Supervision EU-355
Powers EU-355
Rights EU-356
General Rules and Regulations EU-356
Licensing EU-356
Accounting EU-357

5. Review of the Sectors EU-358
Life and Savings Market EU-358
Pension Reforms EU-358
Voluntary Medical Insurance EU-358
Market Leaders: Life Insurance EU-359
Table 234: Russian Life Insurance Industry (2003): Gross
Written Premium in US$ Million by Leading Companies for
Stolichnoe, UralSib, Yakor, Natsionalnaya, Standart Reserv,
Gorodskaya, Rosno, Pomoshch, Reso Garantiya, and
Rosgosstrakh (includes corresponding Graphs/Chart) EU-359

Table 235: Top-Five Players in the Russian Life Insurance
Industry (2002) - Gross Written Premium in US$ Million for
PSK, Yakor, Liga, National Insurance, and CA Vesta (includes
corresponding Graphs/Chart) EU-360
Non-Life Insurance: A Concentrated Sector EU-360
Automobile Insurance EU-360
Russian Companies Form Union of Automobile Insurers EU-360
Table 236: Russian Non-Life Insurance Industry (2005):
Percentage Breakdown of Gross Premiums by Category -
Accident & Illness, Legal Entity Cargo, Legal Entity MOD,
OMTPL, Private Cargo, Private MOD, Private Property, Legal
Entity Property, Voluntary Medical, and Others (includes
corresponding Graph/Chart) EU-361
Market Leaders: Non-Life EU-361
Table 237: Leading Players in Russian Non-Life Insurance
Industry (2005): Gross Premiums in US$ Million and Number of
Agents for Select Companies - Alfa Insurance, Ingosstrakh,
Lider, MAKS, RESO, Rosgosstrakh, ROSNO, SOGAZ, UralSib, and
VSK (includes corresponding Graph/Chart) EU-361

Table 238: Russian Medical Insurance Market (2006 & 2007):
Premiums in US$ Million by Leading Companies for MAKS,
Sogaz, Kapital, Yugoriya and Ingosstrakh (includes
corresponding Graph/Chart) EU-362

Table 239: Russian Motor Insurance Market (2006 & 2007):
Premiums in US$ Million by Leading Companies for
Ingosstrakh, Rosgosstrakh, Reso, Rosno and Alfa (includes
corresponding Graph/Chart) EU-362

Table 240: Russian Property Insurance Market (2006 & 2007):
Premiums in US$ Million by Leading Companies for Sogaz,
MAKS, Rus Ins, Rosgosstrakh and Reso (includes corresponding
Graph/Chart) EU-362

Table 241: Leading Players in Russian Accident & Illness
Insurance Market (2005): Gross Premiums in US$ Million for
Ingosstrakh, MAKS, NASTA, RESO, Rosgosstrakh, ROSNO,
UralSib, and VSK (includes corresponding Graph/Chart) EU-362

Table 242: Leading Players in Russian Legal Entity Property
Insurance Market (2005): Gross Premiums in US$ Million for
ROSNO, VSK, Rosgosstrakh, and Ingosstrakh (includes
corresponding Graph/Chart) EU-363

Table 243: Leading Players in Russian Legal Entity Cargo
Insurance Market (2005): Gross Premiums in US$ Million for
Rosgosstrakh, Pari, and Ingosstrakh (includes corresponding
Graph/Chart) EU-363

Table 244: Leading Players in Russian Voluntary Medical
Insurance Market (2005): Gross Premiums in US$ Million for
Alfa, Ingosstrakh, MAKS, RESO, Renaissance, Rosgosstrakh,
ROSNO, UralSib, and VSK (includes corresponding Graph/Chart) EU-363

Table 245: Leading Players in Russian Combined MOD Insurance
Market (2005): Gross Premiums in US$ Million for Alfa,
Ingosstrakh, MAKS, RESO, NASTA, Renaissance, Rosgosstrakh,
ROSNO, Rossiya, SOGAZ, Soglasie, Standart Reserve, UralSib,
and VSK (includes corresponding Graph/Chart) EU-364

Table 246: Russian Non-Life Insurance Industry (2003): Gross
Written Premium in US$ Million by Leading Companies for
Ingosstrakh, Reso Garantiya, Rosgosstrakh, Sogaz, Rosno,
Soglasiye, Natsionalnaya, MAKS, UralSib, and Alfa (includes
corresponding Graphs/Chart) EU-364

Table 247: Top-Five Players in the Russian Non-Life
Insurance Industry (2002) - Gross Written Premium in US$
Million for Ingosstrakh, Reso- Garantia, Soglasie, ROSNO,
and Lukoil (includes corresponding Graphs/Chart) EU-365
Reinsurance EU-365
Table 248: Russian Recent Past, Current & Future Analysis for
Reinsurance Industry with Premiums in US$ Million for the
Years 2005 through 2009 (includes corresponding Graph/Chart) EU-365

Table 249: Russian Reinsurance Industry (2007 & 2008):
Percentage Breakdown of Premium Income by Category for
Property, Personal, Liability, Life, Motor and Others
(includes corresponding Graph/Chart) EU-366

Table 250: Leading Players in the Russian Reinsurance Market
(2006 & 2007): Written Premiums in US$ Million by Leading
Reinsurance Companies for Kapital Re, Transsib Re, Megaruss
Re, Moscow Re, and Russian Reinsurance Co (includes
corresponding Graph/Chart) EU-366

6. Outlook EU-367
Focus on Reserve Practices EU-367
Reforms - Key for Development EU-367

7. A Recent Past Perspective EU-368
Post September 11 Attacks: Russian Economy Presents a Rosy
Picture EU-368
Competition and Control Lower Market’s Fragmentation EU-368
Capital & Start ups of Insurance Firms: A 2000 Scenario EU-368
Life Insurance Dominated the Scene EU-368
Leading Auto Insurers EU-369
Table 251: Leading Auto Insurers in Russia by Insurance
Premium & Claims Paid for 2001 (In Russian Ruble Million)
(includes corresponding Graphs/Chart) EU-369

8. Recent Industry Activity in Russia EU-370
Allianz Acquires Stake in ROSNO EU-370
Zurich Purchases Majority Stake in Nasta EU-370
Fortis Commences Life Insurance Business EU-370
VSK to Divest a Major Stake in Insurance Subsidiary EU-370
Aviva to Sell Protection Products in Russia EU-370
R & SA and Direct Insurance Financial Investments Forms Joint
Venture EU-370
The Aton Investment House Acquires Stake in Rossia Insurance
Company EU-371
Russian Insurance Majors Form Anti-Terror Insurance Pool EU-371
Finansovyj Assistent Acquires Stake in Moskovskaya Strakhovaya
Kompaniya EU-371
Allianz Purchases Stake in Rosno EU-371
RESO-Garantiya Acquires 55% Stake in Petrovskaya Strakhovaya
Gruppa EU-372
Ingosstrakh (Russia) Appointed Regional Insurance Coordinator EU-372

9. Focus on Select Russian Players EU-373
Ingosstrakh EU-373
RESO-Garantia EU-373
Soglassye Insurance Company EU-373

SELECT EUROPEAN INSURANCE MARKETS

1. Central and Eastern Europe EU-374
Market Overview EU-374
Life Insurance Sector Flourishing EU-374
Large Players Losing Hold EU-374
Table 252: Insurance Industry in Eastern Europe (2005):
Penetration of Insurance by Life and Non-Life Segments for
Select Regions - Russia, Czech Republic, Poland, Hungary,
and Ukraine (includes corresponding Graph/Chart) EU-375

2. A Peek into Recent Past Market Scenario EU-376
Individual Markets EU-376
Motor Insurance Stimulates Growth in Non-Life EU-376
Market Numbers EU-377
Table 253: Insurance Penetration Rate (In %) by Type for
2001: Central/East European Nations Vs EU-15 (includes
corresponding Graph/Chart) EU-377

Table 254: Insurance Premium as % of GDP for 1999-2001:
Central/East European Nations Vs EU-15 (includes
corresponding Graph/Chart) EU-377

Table 255: Per Capita Premium in US$ for 2000 & 2001:
Central/East European Nations Vs EU-15 (includes
corresponding Graph/Chart) EU-378

3. Unit Linked Business in Scandinavia EU-379
A Prosperous Region EU-379
Good Prospects EU-379
Baltic Countries: Pension Reforms - Agenda for Growth EU-379
Latvia EU-380
1st Pillar - State Mandatory Non-Funded Social Insurance
Pension Scheme (On PAYG base) EU-380
2nd Pillar - State Mandatory Funded Social Insurance
Pension Scheme EU-380
3rd Pillar - Private Voluntary Pension Scheme EU-380
Lithuania EU-381
Estonia EU-382
Synopsis EU-382

4. Key Insurance Markets in Rest of Europe EU-383

4a. Austria EU-383
Market Overview EU-383
Austrian National Insurance System EU-383
Table 256: Austrian Insurance Industry (2003): Percentage
Share of Expenditure by Sector for Pensions, Health
Insurance, and Accident Insurance (includes corresponding
Graph/Chart) EU-383

Table 257: Austrian Insurance Industry (2000-2003): pending
of Health Insurance Sector by Spending Areas in € Million
(includes corresponding Graph/Chart) EU-384
Life Insurance Sector EU-384
Table 258: Austrian Life Insurance Industry (2003): Gross
Written Premium in US$ Million by Leading Companies for
Sparkassen Versicherung, Wiener Stadtische, Raifeisen, UNIQA
Personenversicherung, Generali Versicherung, Allianz
Elementar Leben, Wustenrot, Union, Donau, and Skandia Leben
(includes corresponding Graph/Chart) EU-385

Table 259: Top-Five Players in the Austrian Life Insurance
Industry (2002) - Gross Written Premium in US$ Million for
Sparkassen-Versicherung, Wiener Staedtische, Raiffeisen,
Generali Versicherung ,and Wustenrot (includes corresponding
Graph/Chart) EU-385
Non-Life Insurance Sector EU-385
Table 260: Austrian Non-Life Insurance Industry (2003): Gross
Written Premium in US$ Million by Leading Companies for
Allianz Elementar, Uniqa Sach, Wiener Stadtische, Generali,
Interunfall, Donau, Grawe, Zurich, Oberosterreichische, and
Niederosterreichische (includes corresponding Graph/Chart) EU-386

Table 261: Top-Five Players in the Austrian Non-Life
Insurance Industry (2002) - Gross Written Premium in US$
Million for Allianz Elementar, Wiener Stadtische, Generali,
Uniqa Sach, and Interunfall (includes corresponding
Graph/Chart) EU-386

4b. Belgium EU-387
Table 262: Belgian Insurance Industry (2005): Penetration of
Insurance and Per Capita Premium in US$ by Category - Life
and Non-Life EU-387
Review of the Sectors EU-387
Life Insurance EU-387
Key Players EU-387
Table 263: Belgian Life Insurance Industry (2003): Gross
Written Premium in US$ Billion by Leading Companies for
ETHIAS Life, Les Assurances de Fortis Banque, AXA Belgium,
Fortis AG, KBC Assurances/CBC Assurances, ING Insurance,
DEXIA Assurances, AGF Belgium Insurance, Generali Belgium,
Winterthur-Europe Assurances (includes corresponding
Graph/Chart) EU-388

Table 264: Top-Five Players in the Belgian Life Insurance
Industry (2002) - Gross Written Premium in US$ Million for
SMAP, FB Assurances, ING, KBC Assurances, and Fortis AG
(includes corresponding Graph/Chart) EU-388
Non-Life Insurance EU-389
Table 265: Belgian Non-Life Insurance Industry (2003):
Gross Written Premium in US$ Million by Leading Companies
for Axa Belgium, Fortis AG, Ethais, KBC Assurances,
Winterthur-Europe, AGF Belgium, Mercator, ING, Les
Assurances Populaires, and DKV Belgium (includes
corresponding Graph/Chart) EU-389

Table 266: Top-Five Players in the Belgian Non-Life
Insurance Industry (2002) - Gross Written Premium in US$
Million for AXA Belgium, Fortis AG, SMAP,KBC Assurances,
and Winterthur-Europe (includes corresponding Graph/Chart) EU-389

4c. Bulgaria EU-390
Life Insurance Sector EU-390
Table 267: Bulgarian Life Insurance Industry (2004): Gross
Written Premium in US$ Million by Leading Companies for DZI,
Allianz Bulgaria Life, Orel Life, AIG Life Bulgaria, Bulstrad
DSK-Life, Grawe Bulgaria, Vitosha Life, Bulgariski Imoti,
DSK Garancia, and Dobrudja-M-Life (includes corresponding
Graph/Chart) EU-390

Table 268: Top-Five Players in the Bulgarian Life Insurance
Industry (2003) - Gross Written Premium in US$ Million for
DZI, Allianz Bulgaria Life, Orel Life, AIG Life Bulgaria,
and Bulstrad DSK-Life(includes corresponding Graph/Chart) EU-391
A Peek into the 2000 Market Numbers EU-391
Table 269: Life Insurance Industry in Bulgaria (2000):
Leading Companies by Premium Income in Lev Million and
Market Share in % (includes corresponding Graph/Chart) EU-391
Non-Life Insurance Sector EU-392
Table 270: Top-Five Players in the Bulgarian Non-Life
Insurance Industry (2003) - Gross Written Premium in US$
Million for Bulstrad, DZI General, Allianz Bulgaria, Bul Ins,
and Vitosha (includes corresponding Graph/Chart) EU-392

4d. Croatia EU-392
Life Insurance Sector EU-392
Table 271: Croatian Life Insurance Industry (2003): Gross
Written Premium in US$ Million by Leading Companies for
Grawe, Croatia, Merkur, Zagreb, Allianz, Sunce, Kvarner
Wiener St., Helios, Euroherc Life, and UNIQA (includes
corresponding Graph/Chart) EU-393

Table 272: Top-Five Players in the Croatian Life Insurance
Industry (2002) - Gross Written Premium in US$ Million for
Grawe Hrvatska, Zagreb, Croatia, Merkur, and Allianz Zagreb
(includes corresponding Graph/Chart) EU-393
Non-Life Insurance Sector EU-393
Table 273: Top-Five Players in the Croatian Non-Life
Insurance Industry (2002) - Gross Written Premium in US$
Million for Croatia, Euroherc, Jadransko, Allianz Zagreb,
and Triglav (includes corresponding Graph/Chart) EU-394

4e. Cyprus EU-394
Life Insurance Sector EU-394
Table 274: Cyprian Life Insurance Industry (2003): Gross
Written Premium in US$ Million by Leading Companies for
Laiki Cyprialife, Eurolife, Universal Life, America Life,
Interlife, Liberty Life, Alhpa, Minerva, Aspis Pronia, and
Ethniki (includes corresponding Graph/Chart) EU-395

Table 275: Top-Five Players in the Life Insurance Industry
of Cyprus (2002) - Gross Written Premium in US$ Million for
Eurolife, Laiki Cyprialife, Universal Life, America Life,
and Interlife (includes corresponding Graph/Chart) EU-395
Non-Life Insurance Sector EU-395
Table 276: Cyprian Non-Life Insurance Industry (2003): Gross
Written Premium in US$ Million by Leading Companies for
Laiki, General Insurance of Cyprus, Lloyds Underwriters,
Pancyprian, Atlantic, Minerva, American Home, Commercial
Union Cosmos, and Universal Life (includes corresponding
Graph/Chart) EU-396

Table 277: Top-Five Players in the Non-Life Insurance
Industry of Cyprus (2002) - Gross Written Premium in US$
Million for Laiki, General Insurance of Cyprus, Minerva,
Pancyprian, and American Home (includes corresponding
Graph/Chart) EU-396

4f. Finland EU-397
Market Overview EU-397
Table 278: Finnish Insurance Industry (2005): Per Capita
Premium in US$ by Category - Life and Non-Life EU-397
Financial Services Convergence Takes Wings EU-397
Competitiveness Reaches New Heights EU-397
Forming Alliances: Order of the Day EU-397
Life Insurance Sector EU-397
Table 279: Finnish Life Insurance Industry (2003): Gross
Written Premium in US$ Million by Leading Companies for
Nordea, OP-Henkivakuutus, Henki-Sampo, Henki-Suomi,
Suomi-yhtio, Kaleva, Henki-Tapiola, Henki- Veritas,
Henki-Fennia, and Yritysten Henki-Tapiola (includes
corresponding Graph/Chart) EU-398

Table 280: Top-Five Players in the Life Insurance Industry of
Finland (2002) - Gross Written Premium in US$ Million for
Nordea, Henki-Sampo, Aurum, Henki-Suomi, and Suomi-yhtio
(includes corresponding Graph/Chart) EU-398
A Recent Past Review EU-398
Table 281: Life Insurance Industry in Finland (1999 & 2000):
Insurance Premium Written in FIM Billion by Scheme Type for
Individual, Unit-Linked, and Group (includes corresponding
Graph/Chart) EU-399
Non-Life Insurance Sector EU-399
Table 282: Finnish Non-Life Insurance Market (2004):
Percentage Breakdown of Gross Written Premiums by Category -
Credit and Suretyship, Domestic Reinsurance, Foreign
Reinsurance, General Liability, Legal Expenses, Marine,
Aviation and Transport, Motor Liability, Personal Accident
and Health, Workers Compensation, and Other Direct Business
(includes corresponding Graph/Chart) EU-400

Table 283: Finnish Non-Life Insurance Industry (2003): Gross
Written Premium in US$ Million by Leading Companies for If
Vahinkovakuutus, Vahinko-Pohjola, Vahinko-Tapiola, Fennia,
Mutual Insurance Associations, Lahivakuutus, A-Vakuutus,
Pohjantahti, Turva, and Vahinko-Veritas (includes
corresponding Graph/Chart) EU-400

Table 284: Top-Five Players in the Non-Life Insurance
Industry of Finland (2002) - Gross Written Premium in US$
Million for If Vahinkovakuutus, Vahinko-Pohjola,
Vahinko-Tapiola, If Teollisuusvakuutus, and Fennia (includes
corresponding Graph/Chart) EU-401

4g. Georgia EU-402
A Historical Perspective EU-402
Year 2000 - Signs of Resurgence EU-402
Participation of Foreign Companies in Georgian Insurance
Market during 2000 EU-403
Insurance Industry Reforms EU-403
Insurance Industry Progresses EU-403
The Insurance State Supervision Service EU-404

4h. Greece EU-404
Market Overview EU-404
Table 285: Insurance Industry in Greece (1993-2002): Number
of Insurance Companies by Insurance Class for General
Insurance, Life Insurance, and Composite (includes
corresponding Graph/Chart) EU-405
Market Share of Top Companies EU-405
Table 286: Insurance Industry in Greece (1998-2002):
Percentage Market Share of Top 5, 10, and 20 Companies by
Life and Non-Life Sectors (includes corresponding
Graph/Chart) EU-405
Life Insurance Sector EU-406
Table 287: Greek Life Insurance Industry (2003): Gross
Written Premium in US$ Million by Leading Companies for
Ethniki, Interamerican Life, Alico AIG Life, ING Life,
Agrotiki, Aspis Pronia General, Allianz Life, Phoenix
Metrolife Emporiki, EFG Life, and Alpha Ins (includes
corresponding Graph/Chart) EU-406

Table 288: Top-Five Players in the Life Insurance Industry of
Greece (2002) - Gross Written Premium in US$ Million for
Interamerican Life, Ethniki, ING Life, Alico AIG Life, and
Aspis Pronia General (includes corresponding Graph/Chart) EU-406
Non-Life Insurance Sector EU-407
Table 289: Greek Non-Life Insurance Industry (2003): Gross
Written Premium in US$ Million by Leading Companies for
Ethniki, Phoenix Metrolife Emporiki, Agrotiki Interamerican,
Property, Alpha, Allianz, Commercial Value, Intersalonika,
International Union, and Egnatia (includes corresponding
Graph/Chart) EU-407

Table 290: Top-Five Players in the Non-Life Insurance
Industry of Greece (2002) - Gross Written Premium in US$
Million for Ethniki, Phoenix Metrolife Emporiki, Agrotiki,
Interamerican Property, and ALPHA (includes corresponding
Graph/Chart) EU-408
A Peek into Recent Past Market Numbers EU-408
Table 291: Greek Insurance Industry (1993-2002): Direct
Premium in Million Euro by Insurance Class for Life and
Non-Life (includes corresponding Graph/Chart) EU-408

Table 292: Greek Insurance Industry (2001): Direct Premium of
Non-Life Insurance by Line in Greek Drachmas Million
(includes corresponding Graph/Chart) EU-409

Table 293: Greek Insurance Industry (2001): Direct Premium of
Life Insurance by Line in Greek Drachmas Million (includes
corresponding Graph/Chart) EU-410

4i. Hungary EU-410
Market Overview EU-410
Retaining Agents a Herculean Task EU-411
Life Insurance Sector EU-411
Table 294: Top-Five Players in the Hungarian Life Insurance
Industry (2003) - Gross Written Premium in US$ Million for
ING, AB Aegon, OTP-Garancia, Generali Providencia, and
Allianz (includes corresponding Graph/Chart) EU-411
Non-Life Insurance Sector EU-412
Table 295: Hungarian Non-Life Insurance Industry (2006):
Percentage Breakdown of Premiums by Segment - Accident,
Financial Losses, Fire & Elemental Risks, General Liability,
Health, MAT, Motor Own Damage, MTPL, and Others (includes
corresponding Graph/Chart) EU-412
Major Players EU-412
Table 296: Top-Five Players in the Hungarian Non-Life
Insurance Industry (2003) - Gross Written Premium in US$
Million for Allianz, Generali Providencia, OTP-Garancia, AB
Aegon, and UNIQA (AXA) (includes corresponding Graph/Chart) EU-412
A Recent Past Market Scenario EU-413
Life Insurance Witnesses Upswing EU-413
Table 297: Life Insurance Industry in Hungary (2000):
Leading Players by Earned Premium in HUF Billions (includes
corresponding Graph/Chart) EU-413
Group Life Insurance Schemes Fuel Growth EU-413
Hungarian Government Probes Insurance Companies EU-413

4j. Iceland EU-414
Life Insurance Sector EU-414
Table 298: Life Insurance Industry in Iceland (2003): Gross
Written Premium in US$ Million by Leading Companies for
Sjova-Almennar, Althjoda, LIFIS, and Liftryggingamidsrodin
(includes corresponding Graph/Chart) EU-414

Table 299: Leading Players in the Life Insurance Industry of
Iceland (2002) - Gross Written Premium in US$ Million for
Sameinada, Althjoda, and LIFIS (includes corresponding
Graph/Chart) EU-414
Non-Life Insurance Sector EU-415
Table 300: Non-Life Insurance Industry in Iceland (2002):
Gross Written Premium in US$ Million by Leading Companies
for Sjova-Almennar, Vidlagatr Islands, Tryggingamidstodin,
VIS hf., Islands-Trygginh, Vordur, and Althjoda (includes
corresponding Graph/Chart) EU-415

4k. Ireland EU-416
Market Overview EU-416
Table 301: Irish Recent Past, Current & Future Analysis for
Insurance Industry by Segment - Life & Non-Life Markets
Independently Analyzed with Annual Premium Income in Euro
Billion for the Years 2005 through 2010 (includes
corresponding Graph/Chart) EU-416

Table 302: Irish 6-Year Perspective for Insurance Industry by
Segment - Percentage Breakdown of Premium Income for Life and
Non-Life Markets for 2005, 2008, and 2010 (includes
corresponding Graph/Chart) EU-417

Table 303: Insurance Industry in Ireland (2006): Per Capita
Premium in US$ by Category - Life and Non-Life EU-417
Regulatory Environment EU-417
Potential Problems EU-417
Personal Retirement Savings Accounts (PRSAs) EU-418
Understanding PRSA EU-418
Limitations on Charges EU-418
Restrictions on Investment EU-418
PRSA Providers EU-419
Regulation of PRSA EU-419
Suitable for Investment Managers EU-419
Life Insurers Caught in a Tight Spot EU-420
Distribution of PRSA EU-420
Encouraging Lapses EU-421
With-Profits Funds Deployment by Life Insurers EU-421
Outlook EU-421
Life Insurance Industry EU-421
Table 304: Irish Life Assurance Market (2006 & 2007):
Percentage Breakdown of Gross Premium Income by Policy Type -
Individual Assurances and Annuities, Pension Scheme Business,
Self-Employed Pensions & Associated Business (Including
PRSAs), Permanent Health Insurance (PHI), and Industrial
Branch (IB) Business (includes corresponding Graph/Chart) EU-422

Table 305: Irish Life Assurance Market (2006 & 2007):
Percentage Breakdown of Benefits and Claims Paid by Policy
Type (includes corresponding Graph/Chart) EU-422

Table 306: Irish Life and Pension Insurance Market: Gross
Premiums US$ Billion for the Years 2001 through 2005
(includes corresponding Graph/Chart) EU-423

Table 307: Irish Life Assurance Market (2005): Percentage
Breakdown of Gross Premium Income by Policy Type - Individual
Assurances and Annuities, Industrial Branch Business,
Permanent Health Insurance, Pension Scheme Business, and
Self-Employed Pensions & Associated Business (includes
corresponding Graph/Chart) EU-423

Table 308: Irish Life Assurance Market (2005): Percentage
Breakdown of Benefits and Claims Paid by Policy Type -
Critical Illness, Individual Assurances and Annuities,
Industrial Branch Business, Permanent Health Insurance,
Pension Scheme Business, and Self-Employed Pensions &
Associated Business (includes corresponding Graph/Chart) EU-424

Table 309: Irish Life Assurance Market (2005): Percentage
Breakdown of Distribution Channel for Annual and Single
Premium Generation by Segment - Agents, Brokers, Direct,
Employee & Company Representatives, and Tied Agents
(includes corresponding Graph/Chart) EU-424
Leading Players EU-425
Table 310: Leading Players in Irish Life Insurance Market
(2006 & 2007): Percentage Market Share of Gross Premium
Income by Company - BoI Life (Bank of Ireland Life -
Includes New Ireland Assurances), Irish Life, Hibernian Life
Holdings Ltd. (Includes Ark Life), Eagle Star Life, Friends
First Life and Others (includes corresponding Graph/Chart) EU-425

Table 311: Leading Players in Irish Pensions Market (2006 &
2007): Percentage Market Share of Gross Premium Income by
Company - Irish Life, BoI Life (Bank of Ireland Life -
Includes New Ireland Assurances), Hibernian Life Holdings
Ltd. (Includes Ark Life), Eagle Star Life, Standard Life,
Friends First Life, Canada Life and Others (includes
corresponding Graph/Chart) EU-426

Table 312: Leading Players in Irish Life Insurance and
Pensions Market (2006 & 2007): Percentage Breakdown of Total
Market Share (Life and Pension Businesses) of Gross Premium
Income by Company - BoI Life (Bank of Ireland Life -
Includes New Ireland Assurances), Irish Life, Hibernian Life
Holdings Ltd. (Includes Ark Life), Eagle Star Life, Friends
First Life, and Others (includes corresponding Graph/Chart) EU-427

Table 313: Irish Life Assurance Market (2005): Gross Premium
Income for Life and Pension Business by Company - Ark Life,
BoI Life, Canada Life, Eagle Star Life, Friends First Life,
Hibernian Life, Irish Life, Standard Life, Royal Liver, and
Others (includes corresponding Graph/Chart) EU-427

Table 314: Irish Life Insurance Industry (2003): Gross
Written Premium in US$ Million by Leading Companies for
Irish Life, New Ireland, Ark, Hibernian Life & Pens, Eagle
Star Life, Standard Life, Canada Life Ass. (Irl), Friends
First Life Ass., Friends First Man. Pen, and Anglo Irish
Assurance (includes corresponding Graph/Chart) EU-428

Table 315: Top-Five Players in the Life Insurance Industry
of Ireland (2002) - Gross Written Premium in US$ Million
for Irish Life, New Ireland, Ark, Hibernian Life &
Pensions, and Standard Life (includes corresponding
Graph/Chart) EU-428
Non-Life Insurance Industry EU-429
Table 316: Irish Non-Life Insurance Market (2005):
Percentage Breakdown of Gross Written Premiums by Category -
Liability, Motor, PA/Travel, Property, and Other Business
(includes corresponding Graph/Chart) EU-429
Leading Players EU-429
Table 317: Leading Players in Irish Motor Insurance Market
(2006 & 2007): Percentage Breakdown of Premiums by Company -
Hibernian, Quinn-Direct, AXA, FBD, Eagle Star, Allianz and
Others (includes corresponding Graph/Chart) EU-429

Table 318: Leading Players in Irish Property Insurance
Market (2006 & 2007): Percentage Breakdown of Premiums by
Company - Hibernian, Royal & Sun Alliance, Allianz, Eagle
Star, AXA and Others (includes corresponding Graph/Chart) EU-430

Table 319: Irish Non-Life Insurance Industry (2003): Gross
Written Premium in US$ Million by Leading Companies for
Hibernian General, AXA, Royal & SunAlliance, Eagle Star
Ireland, Allianz Ireland, FBD, Allianz Corporate Ireland,
Quinn-Direct, AIG Europe, and Irish Public Bodies (includes
corresponding Graph/Chart) EU-431

Table 320: Top-Five Players in the Non-Life Insurance
Industry of Ireland (2002) - Gross Written Premium in US$
Million for Hibernian, AXA, Royal & SunAlliance, Eagle Star
Ireland, and Allianz Ireland (includes corresponding
Graph/Chart) EU-431
Captive Market in Ireland: A Recent Past Perspective EU-432
Table 321: Captive Market in Ireland (1999 & 2000): Captive
Managers in Dublin by Premium Volume in US$ Million EU-432
The Cry for PCC (Protected Cell Companies) EU-432
Traditional and Non-Traditional Programs EU-432
Changing Regulations EU-433

4l. Latvia EU-434
Life Insurance Sector EU-434
Table 322: Latvian Life Insurance Industry (2004): Gross
Written Premium in US$ Million by Leading Companies for Ergo
Latvija Dziviba, Balta Dziviba, Seesam Life, Latvia, Sampo
Dziviba, and Baltikums Dziviba (includes corresponding
Graph/Chart) EU-434
Non-Life Insurance Sector EU-434
Table 323: Latvian Non-Life Insurance Industry (2003): Gross
Written Premium in US$ Million by Leading Companies for
Balta, BTA, Balva, Ergo Latvija, Parekss, Baltikums, If
Latvia, Rigas Slimokase, Baltijas Apdrosinasanas Nams, and
Seesam Latvia (includes corresponding Graph/Chart) EU-435

4m. Lithuania EU-436
Table 324: Lithuanian Recent Past, Current & Future Analysis
for Insurance Industry by Segment - Life & Non-Life Markets
Independently Analyzed with Annual Premium Income in US$
Million for the Years 2006 through 2010 (includes
corresponding Graph/Chart) EU-436

Table 325: Lithuanian 5-Year Perspective for Insurance
Industry by Segment - Percentage Breakdown of Premium Income
for Life and Non-Life Markets for 2006, 2008, and 2010
(includes corresponding Graph/Chart) EU-436
Life Insurance Sector EU-437
Table 326: Lithuanian Life Insurance Industry (2004): Gross
Written Premium in US$ Million by Leading Companies for
Hansa Gyvybes Draudimas, ERGO Lietuvus Gyvybes Draudimus, VB
Gyvybes Draudimas, Commercial Union, Sampo Gyvybes Draudimas,
Lietuvos Draudimas, Bonum Publicum, Seesam Lietuva Gyvybes
Draudimas, PZU Lietuva Gyvybes Draudimas, and Lindra -
Gyvybes Draudimas (includes corresponding Graph/Chart) EU-437
Non-Life Insurance Sector EU-438
Table 327: Lithuanian Non-Life Insurance Market (2006 &
2007): Percentage Market Share of Premiums by Category -
Motor, Property, PA & Health, Liability, Surety, Bonds &
Credit, and Marine, Aviation & Transit (includes
corresponding Graph/Chart) EU-438

Table 328: Lithuanian Non-Life Insurance Industry (2003):
Gross Written Premium in US$ Million by Leading Companies
for Lietuvos Draudimas, ERGO Lietuva, Lindra, IF Draudimas,
NORD/LB Draudimas, Baltikums Draudimas, Baltik Garant, BTA
Draudimas, Snoro Garantas, and Baltijos Garantas (includes
corresponding Graph/Chart) EU-439
Compulsory Auto Insurance EU-439
Table 329: Lithuanian Compulsory Auto Insurance Market
(2005): Percentage Share Breakdown of Premiums Written by
Leading Players for Lietuvos Draudimas, PZU Lietuva,
Baltikums Draudimas, BTA Draudimas, Ergo Lietuva, Reso
Europa, IF Draudimas, Baltic Polis and Others (includes
corresponding Graph/Chart) EU-439

4n. Luxembourg EU-440
Life Insurance Sector EU-440
Table 330: Top-Five Players in the Life Insurance Industry of
Luxembourg (2002) - Gross Written Premium in US$ Million for
Swisslife, La Luxembourgeoise-Vie, Le Foyer-Vie, Fortis
Luxembourg Vie, and AGF Life Luxembourg (includes
corresponding Graph/Chart) EU-440
Non-Life Insurance Sector EU-440
Table 331: Top-Five Players in the Non-Life Insurance
Industry of Luxembourg (2001) - Gross Written Premium in US$
Million for Le Foyer Assurances, La Luxembourgeoise, AXA,
Zurich, and Baloise (includes corresponding Graph/Chart) EU-441

4o. Malta EU-441

4p. Norway EU-442
Environmental Responsibilities of Insurance Firms EU-442
Life Insurance Industry EU-442
Table 332: Norwegian Life Insurance Industry (2004): Gross
Written Premium in US$ Million by Leading Companies for
Vital, Storebrand, KLP, Nordea, Sparebank Liv, Gjensidige NOR
Forsikring, Vesta Forsikring, Danica Pensjon, Handelsbanken
Liv, and Danica Fonds forsikring (includes corresponding
Graph/Chart) EU-442

Table 333: Top-Five Players in the Life Insurance Industry of
Norway (2001) - Gross Written premium in US$ Million for KLP,
Storebrand, Vital, Gjensidige NOR Spare, and
Sparebank(includes corresponding Graph/Chart) EU-443
Non-Life Insurance Industry EU-443
Table 334: Norwegian Non-Life Insurance Industry (2003):
Gross Written Premium in US$ Million by Leading Companies
for If Skadeforsikring, Gjensidige NOR, Vesta, Sparebank 1
Skadeforsikring, Terra Skadeforsikring, KLP Skadeforsikring,
Jernbanepersonalets Forsikring, AIG Europe, Zurich
Forsikring, and Vital (includes corresponding Graph/Chart) EU-443

Table 335: Top-Five Players in the Non-Life Insurance
Industry of Norway (2001) - Gross Written Premium in US$
Million for if Skadeforsikring, Gjensidige NOR, Vesta,
Sparebank, and Terra (includes corresponding Graph/Chart) EU-444
Marine Insurance Industry EU-444
Important Facts EU-445
Market Initiatives - 2000 EU-445

4q. Poland EU-446
Life Insurance Sector EU-446
Table 336: Polish Life Insurance Industry (2003): Gross
Written Premium in US$ Million by Leading Companies for PZU
Zycie, Commercial Union, Amplico Life, ING Nationale
Nederlanden, Warta Vita, Allianz Polska, Prumerica,
Nationwide, Europa, and Cardif Polska (includes corresponding
Graph/Chart) EU-446

Table 337: Top-Five Players in Polish Life Insurance Industry
(2002) - Gross Written Premium in US$ Million for PZU Zycie,
Commercial Union, Amplico Life, ING Nationale Nederlanden,
and Warta Vita (includes corresponding Graph/Chart) EU-447
Polish Pension Market EU-447
Compulsory Pension (Contributory) EU-447
Safety Net Pension (Non-Contributory) EU-448
Occupational Pensions (Voluntary) EU-448
Personal Pension and Other Retirement Savings (Voluntary) EU-448
Non-Life Insurance Sector EU-448
Table 338: Polish Non-Life Insurance Industry (2005):
Percentage Breakdown of Premium by Segment - Accident,
Health, Liability (excluding Motor & MAT), MOD, MTPL,
Property (excluding Motor), Legal & Financial Risks, and
Others (includes corresponding Graph/Chart) EU-448

Table 339: Polish Non-Life Insurance Industry (2003): Gross
Written Premium in US$ Million by Leading Companies for PZU,
Warta, Ergo Hestia, Allianz Polska, Samopomic, Uniqa, Tryg
Polska, CIGNA STU, PTU, and Filar (includes corresponding
Graph/Chart) EU-449

4r. Portugal EU-449
Portuguese Insurance Industry - Current Market Trends EU-449
Life Insurance Sector EU-450
Life Products and Retirement Savings Drive the Portuguese
Insurance Sector EU-450
Table 340: Portuguese Life Insurance Industry (2003): Gross
Written Premium in US$ Million by Leading Companies for
Occidental Vida, Fidelidade Vida, Tranquilidade Vida, BPI
Vida, Totta Seguros, Acoreana, AXA VidaImperio Bonanca, Real
Vida, and Eurovida (includes corresponding Graph/Chart) EU-450

Table 341: Top-Five Players in the Life Insurance Industry
of Portugal (2002) - Gross Written Premium in US$ Million
for Occidental Vida, Fidelidade Vida, Tranquilidade Vida,
Totta Seguros, and BPI Vida (includes corresponding
Graph/Chart) EU-451
Non-Life Insurance Sector EU-451
Table 342: Portuguese Non-Life Insurance Industry (2003):
Gross Written Premium in US$ Million by Leading Companies
for Fidelidade-Mundial, Imperio Bonanca, Axa Portugal
Seguros, Tranquilidade, Allianz Portugal, Zurich, ICI,
Acoreana, Ocidental Seguros, and Lusitania (includes
corresponding Graph/Chart) EU-451

Table 343: Top-Five Players in the Non-Life Insurance
Industry of Portugal (2002) - Gross Written Premium in US$
Million for Fidelidade Mundial, Imperio Bonanca, AXA Portugal
Seguros, Tranquilidade, and Allianz Portugal (includes
corresponding Graph/Chart) EU-452

4s. Romania EU-453
Market Overview EU-453
Awareness Among Public Revitalizes the Market EU-453
Foreign Banks Queuing Up EU-453
Domenia Credit EU-453
Challenges Facing Mortgage Sector EU-453
Key Players EU-454
Life Insurance Industry EU-454
Table 344: Romanian Life Insurance Industry (2003): Gross
Written Premium in US$ Million by Leading Companies for ING
Life, Asirom, Omniasig Viata, AIG Life, Asiban, Aviva,
Allianz-TiriacLukoil Asito, Interamerican, and Unita
(includes corresponding Graph/Chart) EU-455

Table 345: Top-Five Players in the Romanian Non-Life
Insurance Industry (2002) - Gross Written Premium in US$
Million for Allianz-Tiriac, Asirom, Omniasig, Astra, and
Ardaf (includes corresponding Graph/Chart) EU-455
Non-Life Insurance Industry EU-455
Table 346: Romanian Non-Life Insurance Industry (2003):
Direct Written Premium in US$ Million by Leading Companies
for Allianz-Tiriac, Asirom, Omniasig, Astra, Asiban, Unita,
Ardaf, Generali, BCR Asigurari, and AIG Romania (includes
corresponding Graph/Chart) EU-456

Table 347: Top-Five Players in the Romanian Life Insurance
Industry (2002) - Gross Written Premium in US$ Million for
ING Nederlanden, Asirom, AIG Life, Aviva, and Omniasig Viata
(includes corresponding Graph/Chart) EU-456
Health Care Sector EU-456
Health Care Delivery EU-456
Family Planning Sector EU-457
Ambulatory Secondary Care Segment EU-457
Health Care Market - A Historic Review EU-457
Transformation of Health Care System EU-457
Primary Health Care Services EU-458

4t. Serbia and Montenegro EU-458
Life Insurance Sector EU-458
Table 348: Life Insurance Industry of Serbia and Montenegro
(2003): Gross Written Premium in US$ Million by Leading
Companies for SERBIA, Zepter, Grawe, Dunav, DDOR Novi Sad,
and Delta (includes corresponding Graph/Chart) EU-459
Non-Life Insurance Sector EU-459
Table 349: Non-Life Insurance Industry of Serbia and
Montenegro (2003): Gross Written Premium in US$ Million by
Leading Companies for Dunav, DDOR Novi Sad, Imperial, Delta,
Evropa, AMS, Ekos, SIM, Takovo, and Kopaonik (includes
corresponding Graph/Chart) EU-459

4u. Slovakia EU-460
Market Overview EU-460
Key Trends and Issues EU-460
Consolidation and Liberalization Mark the Market EU-460
Low Level of Insurance Penetration EU-460
Rise in Illegal Transactions EU-460
Legislative Reforms - Set to Alter the Market EU-461
Key Changes EU-461
Amendments to Insurance Act EU-461
The New Millennium Market Highlights EU-461
The Environment EU-462
Brimming with Insurance Companies EU-462
Table 350: Insurance Industry in Slovakia (1999 & 2000):
Premiums Written by Type of Insurance (In %) (includes
corresponding Graph/Chart) EU-463

Table 351: Insurance Industry in Slovakia (1999-2001):
Growth in Insurance Market (In %) (includes corresponding
Graph/Chart) EU-463
Leading Players EU-463
Slovenska Poistovna, A.S. EU-464
Kooperativa Poistovna, AS EU-464
Allianz Poistovna, AS EU-464
Foreign Companies - Highly Active EU-464
Review of Sectors EU-464
Life Insurance EU-464
Table 352: Top-Five Players in the Slovakian Life Insurance
Industry (2003) - Gross Written Premium in US$ Million for
Allianz poistovna, Amslico AIG Life, Kooperativa poistovna,
Nationale Nederlanden, and Kontinuita poistovna (includes
corresponding Graph/Chart) EU-465
A Recent Past Perspective of the Sector EU-465
Table 353: Insurance Industry in Slovakia (1999-2001):
Life Insurance Premium in SKK Billion and Market Share in
% (includes corresponding Graph/Chart) EU-465

Table 354: Insurance Industry in Slovakia (1999-2001): Per
Capita Premium for Life Insurance in US$ (includes
corresponding Graph/Chart) EU-466

Table 355: Insurance Industry in Slovakia (1999-2001): Life
Premium Written in US$ Million and as Percentage of GDP
(includes corresponding Graph/Chart) EU-466
Major Players EU-466
Amslico AIG Life EU-466
ING Nationale-Nederlanden Poistovna EU-466
Table 356: Insurance Industry in Slovakia (2001): Leading
Life Insurers by Written Premium in US$ Million (includes
corresponding Graph/Chart) EU-467
Non-Life Insurance EU-467
Table 357: Top-Five Players in the Slovakian Non-Life
Insurance Industry (2003) - Gross Written Premium in US$
Million for Allianz poistovna, Kooperativa poistovna, Ceska
poistovna, UNIQA poistovna, and Generali poistovna (includes
corresponding Graph/Chart) EU-468
A Recent Past Perspective of the Sector EU-468
Table 358: Insurance Industry in Slovakia (1999-2001):
Non-Life Premiums in SKK Billion and % Share (includes
corresponding Graph/Chart) EU-469

Table 359: Insurance Industry in Slovakia (1999 &2000):
Non-Life Premium in US$ Million by Type of Insurance
(includes corresponding Graph/Chart) EU-469

Table 360: Insurance Industry in Slovakia (2001): Leading
Non-Life Insurers by Premium Written in US$ Million
(includes corresponding Graph/Chart) EU-470
Motor Third-Party Liability (MTPL) Leads the Segment EU-470
Personal Accident Insurance EU-471
Social Insurance EU-471

4v. Slovenia EU-471
Industry Overview EU-471
Market Leaders EU-472
Table 361: Slovenian Insurance Market (2004): Percentage
Share Breakdown of Leading Players by Written Premiums for
Triglav, Health Insurance Mutual, Maribor, Adriatic, Pension
Fund Management (PFM), Slovenica, Tilia, Merkur, Generali,
Grawe and Others (includes corresponding Graph/Chart) EU-472
Life Insurance Sector EU-472
Table 362: Slovenian Life Insurance Industry (2004): Gross
Written Premium in US$ Million by Leading Companies for
Triglav, Pension Fund Management (PFM), Maribor, Merkur, NLB
Vita, Grawe, Slovenica, Generali, Adriatic, and Fund for
Craftsmen and Entrepreneurs (FCE) (includes corresponding
Graph/Chart) EU-473

Table 363: Slovenian Life Insurance Industry (2003): Gross
Written Premium in US$ Million by Leading Companies for
Triglav, Maribor, Pension Fund Management, Merkur, Grawe,
Slovenica, Generali SKB, NLB VITA, Adriatic, and Fund for
Craftsman and Entrepreneurs (includes corresponding
Graph/Chart) EU-473

Table 364: Top-Five Players in the Life Insurance Industry
of Slovenia (2002) - Gross Written Premium in US$ Million
for Triglav, Maribor, Merkur, Grawe, and Adriatic (includes
corresponding Graph/Chart) EU-474
Life Insurance by Type EU-474
Table 365: Slovenian Life Insurance Market (2004):
Percentage Share Breakdown by Insurance Type for Death and
Endowment-Mixed Insurance, Life Under ZPIZ-1, Life Under
ZZavar, Additional Insurance, Annuity and Others (includes
corresponding Graph/Chart) EU-474
Non-Life Insurance Sector EU-474
Table 366: Slovenian Non-Life Insurance Market (2004):
Percentage Share Breakdown by Insurance Type for Liability,
Health, Property, Casco, Accident, Credit and Others
(includes corresponding Graph/Chart) EU-475
Liability Insurance EU-475
Table 367: Slovenian Non-Life Insurance Market (2004):
Percentage Share Breakdown of Liability Insurance by
Insurance Type for Land Motor Vehicles Liability, General
Liability and Others (includes corresponding Graph/Chart) EU-475
Property Insurance EU-475
Table 368: Slovenian Non-Life Insurance Market (2004):
Percentage Share Breakdown of Property Insurance by
Insurance Type for Fire, Machinery Breakdown, Household,
Livestock, Crops & Fruit, Theft, Computers, Building and
Others (includes corresponding Graph/Chart) EU-476
Casco Insurance EU-476
Table 369: Slovenian Non-Life Insurance Market (2004):
Percentage Share Breakdown of Casco Insurance by Insurance
Type for Land Motor Vehicles, Aircraft, Railway Rolling
Stock and Ships (includes corresponding Graph/Chart) EU-476
Accident Insurance EU-476
Table 370: Slovenian Non-Life Insurance Market (2004):
Percentage Share Breakdown of Accident Insurance by
Insurance Type for Personal Insurance at Work & Outside,
Driver & Car Owner Acc Insurance, Insurance for Passengers
in Motor Vehicles, Children & School Children Accident
Insuranc ze and Others (includes corresponding Graph/Chart) EU-477
Suretyship Insurance & Miscellaneous Financial Loss Insurance EU-477
Table 371: Slovenian Non-Life Insurance Market (2004):
Percentage Share Breakdown of Suretyship Insurance &
Miscellaneous Financial Loss Insurance by Insurance Type for
Loss-of-Profits Fire, Deposits, MB Loss-of-Profits,
Cancellation of Tourist Trips, Shows & Events and
Others(includes corresponding Graph/Chart) EU-477
Legal Expenses and Tourist Assistance Insurance EU-478
Table 372: Slovenian Non-Life Insurance Market (2004):
Percentage Share Breakdown of Legal Expenses and Tourist
Assistance Insurance by Insurance Type for Automobile
Assistance, Legal Expenses, Medical Assistance and Others
(includes corresponding Graph/Chart) EU-478
Non-Life: Market Leaders EU-478
Table 373: Top-Five Players in the Non-Life Insurance Market
of Slovenia (2002) - Gross Written Premium in US$ Million
for Triglav, Health Insurance Mutual, Maribor, Adriatic, and
Slovenica (includes corresponding Graph/Chart) EU-478
The Reinsurance Sector EU-479
Table 374: Slovenian Reinsurance Market (2000-2003): Premium
and Claims in SIT Million and Claims Ratio in Percentage for
Life and Non-Life Reinsurance (includes corresponding
Graph/Chart) EU-479

4w. Sweden EU-480
Industry Overview EU-480
Table 375: Swedish Recent Past, Current & Future Analysis for
Insurance Industry by Segment - Life & Non-Life Markets
Independently Analyzed with Annual Premium Income in SEK
Billion for the Years 2006 through 2010 (includes
corresponding Graph/Chart) EU-480

Table 376: Swedish 5-Year Perspective for Insurance Industry
by Segment - Percentage Breakdown of Premium Income for Life
and Non-Life Markets for 2006, 2008, and 2010 (includes
corresponding Graph/Chart) EU-481

Table 377: Leading Players in the Swedish Insurance Market
(2006 & 2007): Percentage Market Share of Total Assets by
Company - Alecta, Skandia, SEB Trygg Liv, AMF Pension, LF
Insurance Group and Others (includes corresponding
Graph/Chart) EU-481
Insurers Enter Banking EU-481
Demographic Changes and the Pension System EU-481
Life Insurance Industry EU-482
Table 378: Swedish Life Insurance Market (2007 & 2008):
Percentage Market Share of Premiums for Unit Linked and Other
Life Insurance by Category - Occupational Pension, Endowment,
Private Pension, Accident and Health, Group Life and Others
(includes corresponding Graph/Chart) EU-482

Table 379: Swedish Insurance Market (2006 & 2007): Percentage
Market Share of Assets of Life Insurance Companies by
Category - Shares, Bonds, Real Estate and Others (includes
corresponding Graph/Chart) EU-483

Table 380: Leading Players in Swedish Life Insurance Market
(2006 & 2007): Percentage Market Share of Premiums for Unit
Linked and Life Insurance by Company - Skandia, SEB, Folksam,
Handelsbanken, AMF Pension, Swedbank Försäkr.,
Länsförsäkringar and Others (includes corresponding
Graph/Chart) EU-483
Life Insurance - A Past Perspective EU-484
Table 381: Swedish Life Insurance Industry (2003): Gross
Written Premium in US$ Billion by Leading Companies for
Alecta, Skandia Liv, AMF Pension, SEB TL Fond, Skandia Link,
SPP Liv, Robur Fors, Folksam Liv, LF Liv, and SHB Liv
(includes corresponding Graph/Chart) EU-484

Table 382: Top-Five Players in the Swedish Life Insurance
Industry (2002) - Gross Written Premium in US$ Million for
Alecta, Skandia Liv, AMF Pension, Skandia Link, and SPP Liv
(includes corresponding Graph/Chart) EU-484
Non-Life Insurance Industry EU-485
Table 383: Swedish Non-Life Insurance Market (2007 & 2008):
Percentage Breakdown of Premium Income by Category - Business
and Houseowner, Householder and Homeowner, Motor Vehicle,
Motor Third Party, Accident and health and Others (includes
corresponding Graph/Chart) EU-485

Table 384: Leading Players in the Swedish Non-Life Insurance
Market (2006 & 2007): Percentage Market Share of Premium
Income by Company - LF Insurance Group, If Skadeförsäkring,
Trygg-Hansa, Folksam, Dina and Others (includes corresponding
Graph/Chart) EU-486

Table 385: Swedish Insurance Market (2006 & 2007): Percentage
Market Share of Assets of Non-Life Insurance Companies by
Category - Shares, Bonds, Real Estate and Others (includes
corresponding Graph/Chart) EU-486
Non-Life Insurance - A Past Perspective EU-487
Table 386: Swedish Non-Life Insurance Industry (2003): Gross
Written Premium in US$ Million by Leading Companies for IF
Skade, AFA Sjuk, Trygg-Hansa, Folksam Sak, LF Sak, LF
Stockholm, LF Skane, AGRIA, LF Goteborg, and SvKonsument
includes corresponding Graph/Chart) EU-487

Table 387: Top-Five Players in the Swedish Non-Life
Insurance Industry (2002) - Gross Written Premium in US$
Million for If Skade, Trygg Hansa, Folksam Sak, AFA Sjuk,
and LF Sak (includes corresponding Graph/Chart) EU-487

4x. Switzerland EU-488
Table 388: Swiss Recent Past, Current & Future Analysis for
Insurance Industry by Segment - Life & Non-Life Markets
Independently Analyzed with Annual Premium Income in CHF
Billion for the Years 2006 through 2010 (includes
corresponding Graph/Chart) EU-488

Table 389: Swiss 5-Year Perspective for Insurance Industry by
Segment - Percentage Breakdown of Premium Income for Life and
Non-Life Markets for 2006, 2008, and 2010 (includes
corresponding Graph/Chart) EU-488

Table 390: Insurance Industry in Switzerland (2006): Per
Capita Premium in US$, and Penetration of Insurance by
Category - Life and Non-Life EU-489
Market Highlights EU-489
Table 391: Swiss Insurance Market (2005): Premium Volumes in
US$ Billion for Leading Swiss Private Insurers Worldwide
(includes corresponding Graph/Chart) EU-489
Industry Overview EU-490
Outlook EU-490
Table 392: Swiss Insurance Market (2007 & 2008): Percentage
Market Share of Premiums by Category - Life, Medical, Motor,
Fire, Accident and Others (includes corresponding
Graph/Chart) EU-490

Table 393: Swiss Insurance Market (2006 & 2007): Percentage
Market Share of Gross Claims by Category - Life, Medical,
Motor, Fire, Accident and Others (includes corresponding
Graph/Chart) EU-491
Review of Sectors EU-491
Life Insurance EU-491
Table 394: Swiss Life Insurance Market (2006 & 2007):
Percentage Market Share of Premiums by Segment -
Occupational Pensions, Endowment Insurance, Unit- Linked
Life Insurance and Annuity Insurance (includes corresponding
Graph/Chart). EU-492

Table 395: Swiss Life Insurance Market (2005): Percentage
Breakdown by Claims Paid by Segment - Annuity Insurance,
Endowment Insurance, Occupational Pensions, and Unit-Linked
Life Insurance (includes corresponding Graph/Chart) EU-492
Key Players EU-492
Table 396: Leading Players in the Swiss Group Life Market
(2006 & 2007): Percentage Breakdown of Market Share by
Company - Swiss Life, Winterthur/ AXA, ZFS, Baloise,
Helvetia and Others (includes corresponding Graph/Chart) EU-493

Table 397: Leading Players in the Swiss Domestic Life
Market (2006 & 2007): Percentage Breakdown of Market Share
by Company - Swiss Life, AXA, Baloise, ZFS (Zurich Leben),
Patria, and Others (includes corresponding Graph/Chart) EU-493

Table 398: Leading Players in the Swiss Non-Life Insurance
Market (2002-2004): Percentage Breakdown of Market Value by
Company for ZFS, Winterthur, Mobiliar, Allianz, Baloise and
Others (includes corresponding Graph/Chart) EU-494
Non-Life Insurance EU-494
Table 399: Swiss Property & Casualty Insurance Market (2007
& 2008): Percentage Market Share of Premiums by Category -
Motor & Liability Insurance, Medical Insurance, Fire &
Property Insurance, Accident Insurance, and Others (includes
corresponding Graph/Chart) EU-495

Table 400: Swiss Medical Insurance Market (2007 & 2008):
Percentage Market Share of Premiums by Segment - Voluntary
Individual Medical Insurance and Group Medical Insurance EU-495

Table 401: Swiss Fire and Property Insurance Market (2007 &
2008): Percentage Market Share of Premiums by Category -
Fire Insurance, Natural Hazard Insurance and Other Property
Insurance (includes corresponding Graph/Chart) EU-495

Table 402: Swiss Liability and Motor Insurance Market (2007
& 2008): Percentage Market Share of Premiums by Category -
Motor Insurance (Motor Liability & Other Motor),
Comprehensive General Liability, Ocean Marine, Aviation and
Transport (includes corresponding Graph/Chart) EU-496
Key Players EU-496
Table 403: Leading Players in the Swiss Non-Life Insurance
Market (2002-2004): Percentage Breakdown of Market Value by
Company for ZFS, Winterthur, Mobiliar, Allianz, Baloise
and others (includes corresponding Graph/Chart) EU-496

4y. Ukraine EU-497
Table 404: Insurance Industry in Ukraine (2005): Percentage
Breakdown of Gross Written Premium by Category - Life, and
Non-Life (includes corresponding Graph/Chart) EU-497
Life Insurance Sector EU-498
Table 405: Life Insurance Industry in Ukraine (2003): Gross
Written Premium in US$ Million by Leading Companies for
Grawe Ukraina, Alico AIG Life, TAS, Aska Zhittya, Ekko,
Jupiter, Blakitniy Polis, Nadiya, Garant Life, and
Universalnaya (includes corresponding Graph/Chart) EU-498

Table 406: Top-Five Players in the Life Insurance Market of
Ukraine (2002) - Gross Written Premium in US$ Million for
Grawe, TAS, Ekko, Jupiter, and Aska (includes corresponding
Graph/Chart) EU-498
Non-Life Insurance Sector EU-499
Table 407: Non-Life Insurance Industry in Ukraine (2003):
Gross Written Premium in US$ Million by Leading Companies for
Lemma, Kremen, Zemskaya, Oranta, Credo-Classic, Etalon, Aura,
Ostra-Kiev, Pozharno-Strakhovaya, and TAS (includes
corresponding Graph/Chart) EU-499

Table 408: Top-Five Players in the Non-Life Insurance
Industry of Ukraine (2002) - Gross Written Premium in US$
Million for Lemma, Oranta, Credo-Classic, Municipal, and
Veksel (includes corresponding Graph/Chart) EU-499
Reinsurance Market EU-499

4z. Yugoslavia EU-500

5. Product/Service Launch EU-501
TrygVesta & Nordea Enters Finnish Insurance Market EU-501
Allianz Elementar Offers Savings Products EU-501

6. Product/Service Launches in Recent Past EU-502
Inora Life Introduces Dynamic Income Plus Fund Series 3 EU-502
Skandia Insurance AB Launches Skandia Global Funds EU-502
Swiss Life Re-Introduces Critical Illness Products EU-502
Nationale-Nederlanden Launches New Program EU-502

7. Recent Industry Activity EU-503
Kardan Acquires Stake in Sigma Albania EU-503
Yugoriya Insurance Company Signs Deal with Ural Precision EU-503
Generali Receives Approval to Acquire PPF’s Insurance Business EU-503
TBIH Acquires Ukrainian Insurance Group EU-503
UkrSibbank to Acquire Stake in Vesko Insurance EU-504
Vienna Insurance Acquires Stake in Asirom EU-504
Unipol to Acquire Stake in ING Insurance EU-504
ING Divests Insurance Belgium EU-504
Storebrand to Acquire SPP EU-504
KBC to Acquire Stake in DZI Insurance EU-505
Wiener Staedtische Acquires Sigma EU-505
Sagicor Takes Over Gerling EU-505
Allianz Acquires ATF-Polis EU-505
Aviva Enters into Joint Venture with Bank Zachodni WBK EU-505
Zurich Beteiligungs to Acquire Real Garant EU-505
Vienna Acquires Majority Stake in Sigma EU-506
Zurich Acquires Wrightway Underwriting EU-506
Vienna Insurance Acquires Majority Stake in Asirom EU-506
Bank Austria Creditanstalt and UNION Versicherungs Merge EU-506
KBC Takes Over DZI Insurance EU-506
Uniqa Increases its Share in Vitosha EU-507
MFS Holdings Acquires Stake in Universal Life EU-507
Pohjola Group Merges with Parent Company EU-507
Alpha Bank Sells Alpha Insurance EU-507
Quinn to Take Over BUPA Ireland EU-507
Aviva Enters Motor Insurance Business EU-507
Aegon and Banca Transilvania to Establish New Pension Firm EU-507
Uniqa Signs an Agreement with Sigal EU-508
Zurich Enters Belgium and Italian Markets EU-508
Swiss Life to Acquire CapitalLeben EU-508
Zurich Enters into Collaboration EU-508
Unipol to Acquire Stake in ING Insurance EU-508
BRE Bank and AEGON to Unite Respective Pension Funds EU-508
Poland’s Ministry of Treasury to Merge PKO BP and PZU EU-509
Wiener Staedtische to Acquire Stake in Asirom EU-509
Ukraine Puts 25%+1 Share in Oranta for Sale EU-509
Generali Enters Bulgarian Insurance Market EU-509
ING to Commence Life Insurance Business in Bulgaria EU-509
AXA to Acquire Alpha Insurance EU-509
Euler Hermes to Enter Irish Market EU-510
Allianz and Axa Joins Race to Buy DDOR EU-510
Winterthur Sells Health Insurance Business EU-510
Fortis Enters Ukrainian Life Insurance Market EU-510
AXA to Take Over Winterthur EU-510
Zurich Insurance Ireland Expands in Europe EU-510
Swiss Re Snaps Up GE Insurance Solutions EU-510
BUPA to Withdraw From Ireland EU-511
Forties AG Merges with FB Verzekeringen to Form Fortis
Insurance Belgium EU-511
Veritas Life Insurance Merges with Aktia Life Insurance EU-511
Willis Group to Take Over Link Forsikringsmegling EU-511
CableTel Enters into Partnership with Lev Ins EU-512
K+H Bank’s General and Life Insurance Units Merge to Form K+H
Biztosito EU-512
Swiss Re Snaps up GE Insurance Solutions EU-512
Aon Jauch Acquires VMHWG EU-512
Schweizerische to Acquire Employers Reinsurance and GE
Insurance Solutions EU-512
Wiener Staedtische Buys Majority Interest in Royal Polska EU-512
Ark Life and Hibernian in a Life Insurance Venture EU-513
Old Mutual Eyes Purchase of Skandia EU-513
Zurich Financial to Divest Universal Underwriters Group EU-513
BCP Completes Sale of Insurance Units EU-513
Volkswagen Enters Athens With the Establishment of Banking
and Insurance Units (ROE) EU-513
Pohjola Group Reorganizes Non-Life Operations EU-513
Willis Group Agrees to Acquire Nicon EU-513
Storebrand Life Targets Swedish Pension Market EU-514
Vesta USK Acquires Garant-Pharm EU-514
Swiss Reinsurance Co. Acquires Valley Forge Life Insurance Co EU-514
Union Biztosito Proposes to Step into Travel Insurance Market EU-514

8. Strategic Corporate Developments in Recent Past EU-515

Hansabank Acquires LDGD EU-515
White Mountains Acquires Sirius International EU-515
Universal American Buys Marketing Business of GRLIC EU-515
Bank One Corp. Acquires Zurich Life EU-515
XL Capital and Five European Insurers form Joint Venture for
Terrorism Coverage EU-515
Special Risk Insurance and Reinsurance Luxembourg Commences
Operations EU-516
Credit Suisse Divests 3.5% Stake in Swiss Reinsurance EU-516
ING Re Leaves Cat Market EU-516
Skandia Restructures Business Operations EU-516
Alea Group Purchases Seven Hills Insurance EU-516
Swiss Buys Research Operations of Conning EU-517
Eureko Purchases Foreign and Colonial Management Ltd. EU-517
Bancassurer KBC Expands Operations in Central Europe EU-517
ABG and Sanpaolo Establish New Bancassurance Venture EU-517
CGNU Acquires ABN Amro Magyar Elet es Nyugdijbiztosito
Reszvenytarsasag EU-517
Credit Suisse First Boston Acquires CGU EU-517
ABG and Sanpaolo IMI Establish New Bancassurance Venture EU-518
Zurich Launches New Reinsurance Company EU-518
Copenhagen Reinsurance Sets Up Office in Spain EU-518
Societe Generale Creates Inora Life EU-518
Prudential Divests General Insurance Business to Winterthur EU-518

9. Focus on Select Players EU-519
Aegon AB, Hungary EU-519
Bulstrad DSK Life, Bulgaria EU-519
Converium Group, Switzerland EU-519
Fennia Group, Finland EU-519
Generali-Providencia, Hungary EU-519
Irish Life Assurance PLC, Ireland EU-520
Nordea Group, Finland EU-520
Sampo Insurance Co., Finland EU-520
Skandia Insurance Company Ltd, Sweden EU-521
Swiss Reinsurance, Switzerland - Leading P&C Insurer in the
World EU-521
Tapiola, Finland EU-521
Zurich Financial Services, Switzerland EU-521
EUROPEAN NICHE INSURANCE MARKETS
THE NETHERLANDS EU-523
Table 409: Insurance Industry in The Netherlands (2005):

Premium Income in US$ Billion, Per Capita Premium in US$, and
Penetration of Insurance by Category - Life and Non-Life EU-523

1. Review of the Sectors EU-524

1a. Life Insurance - Growing Significantly EU-524
Life Insurance Distribution System - An Overview EU-524
Market Leaders EU-524
Table 410: Life Insurance Industry in The Netherlands (2004):
Percentage Market Share by Leading Companies - ABN Amro,
Achmea, Aegon, Axa, Delta Lloyd, Fortis, ING, Rabobank, Swiss
Life, SNS, and Others (includes corresponding Graph/Chart) EU-525

Table 411: Life Insurance Industry in The Netherlands (2002):
Gross Written Premium in US$ Billion by Leading Companies
for Nationale Nederlanden Leven, AEGON Leven, Interpolis BTL,
Delta Lloyd Leven, Achmea Pensioen- en Leven, AMEV Leven,
Hooge Huys Leven, Zwitserleven, Stad Rotterdam Leven, and ABN
Amro Leven (includes corresponding Graph/Chart) EU-525

Table 412: Top-Five Players in the Dutch Life Insurance
Industry (2001) - Gross Written Premium in US$ Million for
Nationale-Nederlanden Leven, AEGON Leven, Interpolis BTL,
Achmea Pensioen, and Delta Lloyd Leven (includes
corresponding Graph/Chart) EU-526

1b. Non-Life Insurance EU-527
Table 413: Dutch Non-Life Insurance Market (2005): Percentage
Breakdown by Category - Accident & Health, Fire & Property,
Motor Vehicle, Transport, and Others (includes corresponding
Graph/Chart) EU-527

Table 414: Dutch Accident & Health Insurance Market (2005):
Percentage Breakdown of Gross Premium by Category - Disability
Insurance, Private Medical Expense Insurance, Sickness Leave,
Additional Coverage to PMEI, and Work Related Accident
Insurance (includes corresponding Graph/Chart) EU-527

Table 415: Accident & Health Insurance Market in The
Netherlands (2005): Percentage Market Share of Leading
Players - Aegon, Allianz, Aviva, Eureko, Fortis, ING, Menzis,
SNS Reaal, and Others (includes corresponding Graph/Chart) EU-528

Table 416: Dutch Fire and Other Property Risks Insurance
Market (2005): Percentage Breakdown by Leading Players -
Aegon, Allianz, Aviva, Eureko, Fortis, Generali, ING, SNS
Reaal, and Others (includes corresponding Graph/Chart) EU-528

Table 417: Dutch Motor Vehicle Insurance Market (2005):
Percentage Breakdown by Leading Players - Aegon, Allianz,
Aviva, Eureko, Fortis, ING, SNS Reaal, Unive Schade, and
Others (includes corresponding Graph/Chart) EU-529

Table 418: Dutch Transport Insurance Market (2005): Percentage
Breakdown by Leading Players - Aegon, Allianz, Aviva, Eureko,
Fortis, ING, SNS Reaal, Tegen Zeegevaar, Unive Schade, and
Others (includes corresponding Graph/Chart) EU-529

Table 419: Dutch Disability, Sick Leave, and Work Related
Accident (DSLWRA) Insurance Market (2005): Percentage
Breakdown by Leading Players - Aegon, Eureko, Fortis, ING,
and Others (includes corresponding Graph/Chart EU-529

Table 420: Non-Life Insurance Industry in The Netherlands
(2002): Gross Written Premium in US$ Billion by Leading
Companies for Achmea Zorg, Achmea, Nationale- Nederlanden,
Interpolis, and VGZ Zorgverzekeraar (includes corresponding
Graph/Chart) EU-530

Table 421: Top-Five Players in the Dutch Non-Life Insurance
Market (2001) - Gross Written Premium in US$ Million for
Nationale-Nederlanden, Achmea, Achmea Zorg, Interpolis, and
Delta Lloyd (includes corresponding Graph/Chart) EU-530

1c. Health/Disability Insurance EU-531
Occupational Disability Insurance Sector EU-531
ING Leads the Race EU-531

2. Product Launch EU-532
Agis Launches Health Insurance Policies for Gays and Lesbians EU-532

3. Recent Industry Activity EU-533
SNS REAAL Acquires AXA’s Dutch Insurance Operations EU-533
Aegon Enters into Agreement with Merrill Lynch EU-533
Aegon to Acquire Optas EU-534
Hiscox Buys Eriks Assuradeuren’s Renewal Rights EU-534
Delta Lloyd to Sell Health Insurance Business EU-534
Aviva Divests Stake in Ennia Caribe EU-534
Proposed Merger of Dutch Health Insurance Firms Stands Cancelled EU-534
ING to sell National Borg EU-534
ING and Astron Enter into Outsourcing Agreement EU-534
Three Aviva Dutch Subsidiaries Plan to Merge Health Insurance
Units EU-535
Fortis to Acquire BCP Life Insurance Business EU-535
Aon Nederland to Acquire Assurantie Advies EU-535
Aegon NV to Acquire Nationwide Towarzystwo Ubezpieczen na
Zycie SA EU-535
ING Chile Divests Subsidiary EU-535
Eureko’s Achmea Merges with Rabobank’s Interpolis EU-535

4. Strategic Corporate Developments in Past EU-536
Aegon Acquires Advisory & Brokerage Services EU-536
Coface Gains Gerling’s Dutch and Danish Credit Operations EU-536

5. Focus on Key Player in The Netherlands EU-537
ING Group NV - A Leading Global Life Insurer EU-537

SPAIN EU-538

1. Spanish Insurance Industry: An Overview EU-538
Table 422: Spanish Insurance Industry (2005): Per Capita
Premium in US$ by Category - Life and Non-Life EU-538
Table 423: Spanish Insurance Industry (2004): Percentage
Breakdown of Premiums by Category - Life (Individual and
Group) and Non-Life (Accident, Assistance, Burial Expenses,
Civil Liability, Credit & Surety, Fire, Health, Legal
Expenses, Motor, Multi-Peril, Pecuniary Losses, Transport, and
Other Damage to Assets) (includes corresponding Graph/Chart) EU-539

Table 424: Leading Players in Spanish Insurance Market (2004):
Premium in € Million by Company -Allianz, Aviva, Axa, BBVA
Seguros, Caifor, Caser, Catalana Occidente, Generali, Mapfre,
and Zurich (includes corresponding Graph/Chart) EU-540

Table 425: Spanish Insurance Industry (2004): Premiums in
€ Million for Death Insurance, Insured Pension Plans,
Retirement Insurance, and Other Savings Insurance (includes
corresponding Graph/Chart) EU-540

2. Review of Sectors EU-541

2a. Life Insurance EU-541
Life and Pensions Sector - Growing Robustly EU-541
Growth Barriers EU-541
Changes in Spanish Tax Code EU-541
Market Leaders EU-542
Table 426: Leading Players in Spanish Life Insurance Market
(2004): Premium in € Million by Company -Allianz, Ascat Vida,
Aviva, BBVA, Bansabadell Vida, Banesto Grupos, Caifor,
Generali, Ibercaja, and Mapfre (includes corresponding
Graph/Chart) EU-542

Table 427: Spanish Life Insurance Industry (2003): Gross
Written Premium in US$ Billion by Leading Companies for
Mapfre Vida, Vida Caixa, BBVA Seguros, Aseval, Bansabadell
Vida, Ibercaja, Ascat-Vida, Vitalicio Seguros, Estrella
Seguros, and Mediterraneo Vida (includes corresponding
Graphs/Chart) EU-542

2b. The Pension Sector EU-543
Compulsory Pension (Contributory) EU-543
Safety Net Pension (Non-Contributory State Pension) EU-543
Occupational Pensions (Voluntary) EU-543
Personal Pensions and Other Retirement Savings (Voluntary) EU-543

2c. Non-Life Insurance Market EU-544
Market Offers Niche Opportunities EU-544
Liability EU-544
Leisure Industry EU-544
Environment Liability EU-544
Professional Indemnity Market EU-544
Health Tourism EU-544
Financial Sector EU-544
Property EU-545
Marine EU-545
Table 428: Leading Players in Spanish Non-Life Insurance
Market (2004): Premium in € Million by Company -Adeslas,
Allianz, Axa, Caser, Catalana Occidente, Generali, Mapfre,
Mutua Madrileña, Winterthur, and Zurich (includes
corresponding Graph/Chart) EU-546

Table 429: Spanish Non-Life Insurance Industry (2003): Gross
Written Premium in US$ Billion by Leading Companies for
MAPFRE Mutualidad, Allianz, AXA Aurora Iberica, Zurich
Espana, Winterthur, Mutua Madrilena Automovilista, Adeslas,
Santa Lucia, Vitalicio, and Groupama Plus Ultra (includes
corresponding Graphs/Chart) EU-547
Motor Insurance EU-547
Table 430: Leading Players in Spanish Motor Insurance Market
(2004): Premium in € Million by Company - Allianz, Axa,
Caser, Generali, Linea Directa, Mapfre, Mutua Madrileña,
Pelayo, Winterthur, and Zurich (includes corresponding
Graph/Chart) EU-547
Property Insurance EU-548
Medical Insurance EU-548
Table 431: Spanish Health Insurance Market (2004): Premium
in € Million for Medical Care, Benefits & Compensation,
Sickness, and Reimbursement of Expenses (includes
corresponding Graph/Chart) EU-548

Table 432: Spanish Multi-Peril Insurance Market (2004):
Percentage Breakdown of Premium by Category - Commercial,
Condominium, Household, Industrial, and Others (includes
corresponding Graph/Chart) EU-548

2d. Reinsurance Market EU-549

3. Distribution/Marketing Channels EU-550
Broking Environment Positioned for Significant Transformations EU-550
Coming Together of Banking and Insurance Sectors EU-550
Table 433: Spanish Life Insurance Market (2005): Percentage
Breakdown of Premium by Distribution Channel -
Bancassurance, and Insurers EU-550

Table 434: Spanish Property & Casualty Insurance Market
(2005): Percentage Breakdown of Premium by Distribution
Channel - Bancassurance, Direct Channel, and Insurers
(includes corresponding Graph/Chart) EU-550

4. Mid 90’s: A Perspective EU-551

5. Product Launch EU-552
ING Introduces Variable Annuities in Spain EU-552

6. Recent Industry Activity EU-553
AEGO N and CAJA CANTABRIA Enters Joint Venture Agreement EU-553
CNP Assurances Acquires Stake in Skandia Vida EU-553
Fortis to Sell 50% Stake in its Spanish Insurance Business EU-553
Mapfre Insular Insurance - A Philippino-Spanish Venture Takes
Wings EU-553
Aegon Plans to Acquire half of Seguros Navarra EU-553
Mapfre Asistencia Acquires Abraxas EU-554

7. Strategic Corporate Developments in Past EU-555
Mapfre Re Joins Inreon Reinsurance Trading Platform EU-555
Liberty Mutual Insurance Acquires Bilbao EU-555
AXA Acquires Stake in AXA Aurora Iberica EU-555
BBVA Acquires Stake in Hilo Direct Seguros EU-555
Munich Reinsurance Forms a Spanish Joint Venture EU-555
Copenhagen Reinsurance Sets Up Office in Spain EU-555

8. Focus on Key Spanish Player EU-556
ASISA EU-556
DENMARK EU-557

1. Danish Insurance - A Mature Industry EU-557
Table 435: Danish Recent Past, Current & Future Analysis for
Insurance Industry by Segment - Life and Non-Life Markets
Independently Analyzed with Gross Premium Income in DKK
Million for the Years 2005 through 2009 (includes
corresponding Graphs/Chart) EU-558

Table 436: Danish 5 -Year Perspective for Insurance Industry
by Segment - Percentage Breakdown of Gross Premium Income for
Life and Non-Life Markets for 2005, 2007, and 2009 (includes
corresponding Graphs/Chart) EU-558

Table 437: Danish Recent Past, Current & Future Analysis for
Reinsurance Industry by Segment - Non-Life and Life Markets
Independently Analyzed with Gross Premium Income in DKK
Million for the Years 2005 through 2009 (includes
corresponding Graphs/Chart) EU-559

Table 438: Danish 5 -Year Perspective for Reinsurance
Industry by Segment - Percentage Breakdown of Gross Premium
Income for Non-Life and Life Markets for 2005, 2007, and 2009
(includes corresponding Graphs/Chart) EU-559

Table 439: Danish Reinsurance Market (2005-2007): Gross
Claims in DKK Million by Segments - Non-Life and Life
(includes corresponding Graphs/Chart) EU-560
Competitive Landscape EU-560
Mandatory Insurance EU-560

2. Life Insurance Industry EU-562
Table 440: Danish Life Insurance and Pension Market (2006 &
2007): Percentage Breakdown of Market Share by Leading
Companies (includes corresponding Graphs/Chart) EU-562

Table 441: Danish Pension Market (2003 - 2007): Total Pension
Assets Held by Institutional Investors in DKK Million
(includes corresponding Graphs/Chart) EU-563

Table 442: Danish Pension Market (2006 & 2007): Percentage
Breakdown of Pension Assets Held by Institutional Investors -
Life Insurance, Pension Funds, Banks, ATP and Others
(includes corresponding Graphs/Chart) EU-563
Life Insurance Industry in the Recent Past EU-563
Table 443: Danish Life Insurance Industry (2003): Gross
Written Premium in US$ Million by Leading Companies for
Danica Pension, PFA Pension, K.P., Nordea Liv A/S,
Industriens Pension, Pen-Sam Liv, Bygge- og Anlaeg, Danica
Pension I, Laerernes Pension, and Kvindelige Arbejdere
(includes corresponding Graph/Chart) EU-564

Table 444: Top-Five Players in the Life Insurance Industry of
Denmark (2002) - Gross Written Premiums in US$ Million for
PFA Pension, Danica Pension, K.P, Nordea Liv, and
Industriernas Pension (includes corresponding Graph/Chart) EU-565

Table 445: Life Insurance and Pension Market of Denmark
(2002): Percentage Breakdown of Insurance Firms’ Investment
by Category for Bonds, Shares, Subsidiaries, and Other Assets
(includes corresponding Graph/Chart) EU-565

3. Non-Life Insurance Industry EU-566
Table 446: Danish Non-Life Insurance Market (2007 & 2008):
Percentage Breakdown of Gross Premiums by Category -
Commercial, Motor, Personal, Accident and Others (includes
corresponding Graphs/Chart) EU-566

Table 447: Danish Commercial Insurance Market (2007 & 2008):
Percentage Breakdown of Gross Premiums by Category -
Buildings, Industrial Injuries, Movable Property, Commercial
Liability, Marine and Transport, Aviation & Others (includes
corresponding Graphs/Chart) EU-567

Table 448: Danish Motor Insurance Market (2007 & 2008):
Percentage Breakdown of Gross Premiums by Category -
Comprehensive and Third-Party Liability EU-567

Table 449: Danish Personal Insurance Market (2007 & 2008):
Percentage Breakdown of Gross Premiums by Category -
Homeowners, Household, Vacation Home, Hidden- Defects and
Others (includes corresponding Graphs/Chart) EU-568

Table 450: Danish Non-Life Insurance Market (2006 & 2007):
Percentage Breakdown of Gross Claims by Category - Commercial,
Motor, Personal, Accident and Others (includes corresponding
Graphs/Chart) EU-568

Table 451: Danish Commercial Insurance Market (2006 & 2007):
Percentage Breakdown of Gross Claims by Category - Buildings,
Industrial Injuries, Movable Property, Commercial Liability,
Marine and Transport, Aviation and Others (includes
corresponding Graphs/Chart) EU-569

Table 452: Danish Motor Insurance Market (2006 & 2007):
Percentage Breakdown of Gross Claims by Category -
Third-Party Liability and Comprehensive (includes
corresponding Graphs/Chart) EU-569

Table 453: Danish Personal Insurance Market (2006 & 2007):
Percentage Breakdown of Gross Claims by Category - Household,
Homeowners, Vacation Home, Hidden- Defects and Others
(includes corresponding Graphs/Chart) EU-569
Non-Life Insurance Industry in the Past EU-570
Table 454: Danish Non-Life Insurance Industry (2003): Gross
Written Premium in US$ Million by Leading Companies for Tryg
Skade, Topdanmark, Codan, Alm. Brandfors, Danmark
Sygeforsikring, ALKA, GE Frankona, International Health,
Nykredit, and Danske Fors. Skade I (includes corresponding
Graph/Chart) EU-570

Table 455: Top-Five Players in the Non-Life Insurance
Industry of Denmark (2002) - Gross Written Premiums in US$
Million for Tryg Skade, Topdanmark, Codan, Alm. Brand, and GE
Frankona (includes corresponding Graph/Chart) EU-570

Table 456: Non-Life Insurance Industry in Denmark (2002):
Gross Premium in DKK Million for Limited and Mutual Companies
by Category - Commercial Insurance, Personal Insurance,
Personal Accident Insurance, Motor Insurance, and Others
(includes corresponding Graph/Chart) EU-571

Table 457: Non-Life Insurance Industry in Denmark (2002):
Gross Claims in DKK Million for Limited and Mutual Companies
by Category - Commercial Insurance, Personal Insurance,
Personal Accident Insurance, Motor Insurance, and Others
(includes corresponding Graph/Chart) EU-572

Table 458: Non-Life Insurance Industry in Denmark (2002):
Percentage Breakdown of Insurance Firms’ Investment by
Category for Bonds, Subsidiaries, Shares, and Other Assets
(includes corresponding Graph/Chart) EU-573

Table 459: Industrial Injuries Insurance Industry in Denmark
(2002): Gross Premium and Gross Claims in DKK Million by
Companies (includes corresponding Graph/Chart) EU-573

Table 460: Building Insurance Industry in Denmark (2002):
Gross Premium and Gross Claims in DKK Million by Companies
(includes corresponding Graph/Chart) EU-574

Table 461: Marine and Transport Insurance Industry in Denmark
(2002): Gross Premium and Gross Claims in DKK Million by
Companies (includes corresponding Graph/Chart) EU-575

Table 462: Household Insurance Industry in Denmark (2002):
Gross Premium and Gross Claims in DKK Million by Companies
(includes corresponding Graph/Chart) EU-576

Table 463: Personal Accident, Health and Disability
Insurance Industry in Denmark (2002): Gross Premium and
Gross Claims in DKK Million by Companies (includes
corresponding Graph/Chart) EU-577

Table 464: Motor Insurance Industry in Denmark (2002): Gross
Premium and Gross Claims in DKK Million by Companies
(includes corresponding Graph/Chart) EU-578

4. Mortgages and Life Insurance - Promising Areas of Growth EU-579

5. Danish Insurance Industry: A Mid 90’s Review EU-580
Deregulation of the Financial Services Market EU-580

6. Recent Industry Activity EU-581
QBE to Acquire Praetorian EU-581
Codan Plans Acquisition of Topdanmark’s Marine Insurance
Business EU-581

7. Focus on Key Danish Players EU-582
Danica Pension EU-582
PFA Pension EU-582
Topdanmark EU-582
Tryg Skade EU-582
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  • Abbey National PLC EU-
  • Allianz Corn hill EU-
  • Amlin PLC EU-
  • Aviva Plc - Fifth Largest Life Insurer in the World EU-
  • Britannia Life EU-
  • BUPA (British Union Provident Association) EU-
  • Direct Line Plc EU-
  • Ecclesiastical Insurance Group EU-
  • Equity Insurance Group Limited EU-
  • Groupama Insurances EU-
  • Halifax Life. EU-
  • Hiscox Ltd EU-
  • Legal & General Group Plc EU-
  • Lloyds of London EU-
  • Lloyds TSB Group Plc EU-
  • Lloyds TSB Life Assurance Company Limited EU-
  • Markel International Ltd. EU-
  • Nat West Life EU-
  • NFU Mutual Insurance Co. EU-
  • Prudential PLC EU-
  • Royal & Sun Alliance Insurance Group EU-
  • Scottish Widows plc EU-
  • St. Paul International Insurance Co. Ltd. EU-
  • St. Paul Travelers Insurance Company Limited EU-
  • Standard Life PLC EU-
  • The EquiTableLife Assurance Society EU-
  • Leading Brokers in UK EU-
  • HBOS PLC EU-
  • Jardine Lloyd Thompson Group Plc EU-
  • Willis Group Holdings Ltd., UK EU-
  • Ceska Pojistovna AS - Largest Insurer in the Czech Republic EU-
  • CSOB Pojistovna, Czech Republic - Fourth Largest Insurer in
  • the Czech Republic EU-
  • Kooperativa Pojistovna EU-
  • Aegon AB, Hungary EU-
  • Bulstrad DSK Life, Bulgaria EU-
  • Converium Group, Switzerland EU-
  • Fennia Group, Finland EU-
  • Generali-Providencia, Hungary EU-
  • Irish Life Assurance PLC, Ireland EU-
  • Nordea Group, Finland EU-
  • Sampo Insurance Co., Finland EU-
  • Skandia Insurance Company Ltd, Sweden EU-
  • Swiss Reinsurance, Switzerland - Leading P&C Insurer in the
  • World EU-
  • Tapiola, Finland EU-
  • Zurich Financial Services, Switzerland EU-
  • EUROPEAN NICHE INSURANCE MARKETS
  • THE NETHERLANDS EU-
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