Finaccord Professional Indemnity Insurance, C5 conference - London, 19 October 2011

Expertise in financial services Web: www.finaccord.com. E-mail: [email protected]

Professional indemnity insurance

© Finaccord Ltd., 2011 1


C5 conference

London

19th October 2011

http://www.finaccord.com/

mailto:[email protected]




The UK is the largest PII market in Europe

Note: ‘Others’ are Belgium, Italy, the Netherlands, Poland, Spain, Sweden and Switzerland

Source: Finaccord European Professional Indemnity Insurance Report

Share of PII premiums by country, 2010

• Total market value =

EUR 5.81 billion GWP

• across 6.08 million

insurable enterprises

• of which 2.69 million

have PII

UK, 27%

France, 20%Germany,

19%

Others, 34%






More professional associations have an affinity scheme

for PII in the UK than elsewhere in Europe...

Source: Finaccord PartnerBASE for Professional Indemnity Insurance in Europe

Proportion of professional associations offering affinity scheme for PII, 2011

57%

52%

39%

35%

18%

0% 20% 40% 60% 80% 100%

UK

Germany (next highest)

European average

France

Poland (lowest)






...and broker and underwriter competition is highest

Share of affinity relationships held by top 5 brokers and underwriters, 2011

Source: Finaccord PartnerBASE for Professional Indemnity Insurance in Europe

Brokers

Underwriters

All

others

Leading

competitor

2nd

competitor

3rd

competitor

4th

competitor

5th

competitor

0% 20% 40% 60% 80% 100%

UK

European average

UK

European average






Growth in the number of professional enterprises in the UK


Forecast annual growth rate in number of professional enterprises, 2010 to 2014, %

2.9%

2.5%

2.5%

2.2%

2.1%

2.1%

1.3%

1.2%

1.0%

0.7%

0% 1% 2% 3% 4% 5%

Legal services

Complementary medicine

Marketing

Estate agency and property

Accountancy and finance

Broadcasting and publishing

Medicine, dentistry and other healthcare

IT, management and financial consulting

Architecture and engineering

Other professional sectors





© Finaccord Ltd., 2011

IT

DE

FRDE

FR

FR

IT

DE

0%

2%

4%

6%

8%

10%

-3% 0% 3% 6% 9% 12% 15%

6

What opportunities exist in Europe?


Segments by country with GWP forecast to rise by more than EUR 25 million, 2010 to 2014

Key:

DE = Germany

FR = France

IT = Italy

Size of bubble

is proportionate

to increase in

PII premiums

Medicine

Arch. & eng.

IT, man. & fin.

consultancy

Total European

market value

forecast to reach

EUR 7.0 billion

GWP in 2014

Compound annual growth rate for PII, 2006-2010

Forecast compound

annual growth rate

for PII, 2010-2014



Finaccord Professional Indemnity Insurance, C5 conference - London, 19 October 2011

Economy & Finance

Transcript of Finaccord Professional Indemnity Insurance, C5 conference - London, 19 October 2011