Abstract
The Specialty Insurance Sectors Report provides insightful analysis and market
overview of Terrorism, Mortgage, Credit, Alternative Risk Transfer, Pet,
Municipal Bond, Fidelity, and Political Risk Insurance industries. Laden with
quantitative analysis, the report also provides the reader with a rudimentary
statistical preface to these markets. The closely summarized market report is
designed to offer a macro level picture of the trends, recent mergers &
acquisitions, and strategic corporate developments witnessed by these
insurance sectors. Also provided is a compilation of recent past/ historical
perspective of the sectors, and strategic corporate developments and product
launches within it. The report examines leading companies' footing in some of
these markets at global and/ or regional level, along with their annual
written premiums. The report also discusses several key and niche players
within these markets.
Table of Contents
TERRORISM INSURANCE
1. Insurance Industry - Terrorist Attack and the Aftermath
- Insuring Against Terrorism: Policy Challenge
- Government Cover for Insurance Industry Against Terrorist Risks in Various
Countries
- Canada
- France
- Germany
- The UK
- Spain
- South Africa
- Israel
2. United States
- Terrorism Insurance Market - A Brief
- Terrorism Sweeps Insurance Sector off its
- Revenues
- Terrorism Risk Insurance Act Amended
- US Government Opposes Terrorism Insurance Extension
- Federal Backstop - Should it be Temporary or Permanent?
- Terrorism & Risk Coverage...
- Insurance Industry Seeks Federal Support
- Federal Backstop - Considerations and Oppositions...
- Bush Administration' s Plan...
- Senate Banking Committee' s Plan...
- US Insurers Come Up with an Insurance Pool Proposal...
- NAII Recommendations for Terrorism Reinsurance Proposal...
- Proposals for Terrorism Insurance Could Hurt Consumers...
- Terrorism Risk Insurance Act legislation
- Key Features of the Legislation
- 2001: A Year of Debacle
- September 11: The Aftershocks
- 9/11 - The Costliest Insured Disaster
- Estimated Insurance Payments Related to Sept. 11 2001, by Sector (In US$)
- Table 1: September 11: Estimates of Losses for US Insurance Industry (In
US$ Billion) (includes corresponding Graph/Chart)
- The Ripples from WTC Disaster
- Skyrocketing Insurance Rates...
- All Eyes Turn Towards Catastrophe Modeling
- The Recessionary Climate
- Sustained Underpricing
- Medical Inflation
3. Chile
- A Key Note on Terrorism Insurance
4. Strategic Developments in the Past
- XL Capital and 5 European Insurers form JV for Terrorism Coverage
- Russian Insurance Majors Form Anti-Terror Insurance Pool
- Special Risk Insurance and Reinsurance Luxembourg Commences Operations
- US Airlines Mull Formation of Risk-Retention Group
5. Product Launch
- Lexington Enhances BioChem ShieldSM Capacity
6. Focus on Select Players
- Hiscox Ltd, UK
- Lloyd' s of London, UK
MORTGAGE INSURANCE
1. An Overview
- The Need
- Policy Renewal/ Cancellation
2. Select Snapshots of the Mortgage Insurance Industry Worldwide
2a. United States
- Mortgage Insurance Market Representation
- Table 2: US Recent Past, Current & Future Analysis for Mortgage
Insurance Market with Net Premiums Written in US$ Million for the Years 2006
through 2010 (includes corresponding Graph/Chart)
- Private Mortgage Insurance - An Upcoming Segment
- PMIs' Competition with Service
- Elements of Underwriting Risk when Reviewing a Loan
- The Rise of Mortgage Insurance
- Factors Strengthening the PMI Business
- Self-Insurers in the PMI Market
- Factors Affecting Default Losses
2b. Romania
- Awareness Among Public Revitalizes the Market
- Lack of Standardization in Mortgage Sector - Implications for Mortgage
Insurance
- Domenia Credit - A Key Player
2c. Denmark
- Mortgage Insurance - Promising Avenue for Growth
3. Recent Industry Activity
- Assurant Solutions Takes Over Centrepoint Insurance
- Assurant' s UK Affiliate Takes Over Swansure Group
- AIG Forms Alliance with Seoul Guarantee
- HIG Holdings Plans to Acquire American Founders Financial Corp
4. Strategic Development in the Past
- GE Splits GE Capital into Separate Units
5. Product Launches
- R&SA Offers Insurance to Renewable Energy Sector
- Lloyds Offers Free Cover
- ASPCA Releases New Pet Health Insurance Product
- BUPA to Launch Space Insurance
- Citibank Introduces Loan Protection Policy in UAE
6. Product Launches in the Past
- Progressive Launches Loan/Lease Pay Off Insurance
- Liverpool Victoria' s Comprehensive Mortgage Payment Protection Plan
- Tata AIG, Tata Home Finance Offer Mortgage Reducing Term Program
7. Focus on Select Players
- Abbey National PLC
- Allstate Financial Group, US
- Ecclesiastical Insurance Group, UK
- Lloyds TSB Group plc, UK
- Metropolitan Life Insurance Co., US
- Mortgage Guaranty Insurance Corp., US - Leading Private Mortgage Insurer
in the US
- Radian Group, US
- Republic Mortgage Insurance Co., US
- The PMI Group, Inc., US
- United Guaranty, US
CREDIT INSURANCE
1. Credit Insurance - The Concept
- The Insurance for Creditor...
- A Special Case of Co-Insurance...
2. Importance of Credit Insurance
- Credit Insurance Sector Poised for Substantial Growth
3. Credit Insurance Market - A Historic Perspective
- Market Leaders
- Table 3: World Credit Insurance Industry (2002) - Percentage Market Share
of Leading Players (includes corresponding Graph/Chart)
- Table 4: World Credit Insurance Industry (2000) - Percentage Market Share
of Leading Players (includes corresponding Graph/Chart)
4. Review of Major Markets
4a. United States
- Credit Insurance in the US - Untapped Potential
4b. Europe
- Credit Insurance Garners High Popularity
- Formation of EU Boosts European Credit Insurance Market
- Credit Insurers Make Smart Move
- 4b(i). United Kingdom
- UK Creditor Insurance Market - An Overview
- Table 5: UK Recent Past, Current & Future Analysis for Credit
Insurance Market in GBP Billion for the Years 2006 through 2010 (includes
corresponding Graph/Chart)
- Popularity of PPI Declines in Recent Years
- PPI Affected by Negative Adulation
- Regulatory Assessment Highlights Several Failures in Creditor Insurance
Industry
4c. Other Emerging Markets
- 4c(i). Chile - Favorable Treatment...
- Export and Domestic Trade Credit
- A Past Perspective
- Table 6: Credit Insurers in Chile for 2001: Percentage Market Share by
Company (includes corresponding Graph/Chart)
- 4c(ii).China
- Export Credit Insurance Market Picking Up
- Table 7: Chinese Credit Insurance Market (2003): Percentage Value
Breakdown of Premium by Company - Ping An, China United, Yong An, Tian An,
Sinosafe and Others (includes corresponding Graph/Chart)
5. Recent Industry Activity
- Euler Hermes Acquires Stake in ICIC
- Euler Hermes Acquires United Mercantile
- Zurich Enters into Collaboration
- Wintrust Financial to buyout Broadway Premium Funding Corp
- R&SA Bags New Contract
- Towergate Snaps Up Paymentshield
- Bank of America to Divest Premium Credit
- Euler Hermes to Acquire Lumley' s Credit Insurance Division
- Direct Pet Health to Purchase First Pet Life
- Pets Best Acquires General Fire' s Pets Division
- Lightyear Capital Purchases Stake in Sirius America
- Intersections Acquires Chartered Marketing
- LandAmerica Acquires Capital Title Group
- American International to Acquire Ocean Finance & Mortgages
- Euler Hermes to Enter Irish Market
- Genworth Buys Out Vero Lenders
- QBE to Acquire Praetorian
- Zurich Insurance Ireland Expands in Europe
- Aon Plans to Divest Credit Insurance Business
- Euler Hermes to Launch Export Credit Insurance in Japan
- Credit Insurance Consultants Acquires Credit Insurance Brokers
- IBM Plans to Acquire Liberty Insurance Services Corp
- HCC Insurance to Acquire Stake in Demontfort
- Coface Establishes New Insurance Company
6. Strategic Developments in Past
- Scor Divests Stake in Coface
- Coface Gains Gerling' s Credit Insurance Operations in Denmark and the
Netherlands
- Gerling and NCM Merge
7. Focus on Select Credit Insurers Worldwide
- Coface Group, France
- Euler & Hermes SA, France
- Atradius, Germany
- Sompo Japan Insurance Inc., Japan
ALTERNATIVE RISK TRANSFER
1. An Overview
- Risk Retention Groups (RRGs)...
- Purchasing Groups (PGs)...
- Self-Insurance...
- Captive Insurance...
- Market Overview
- Captive Market Receives a Major Boost in the Year 2000
- Table 8: Leading Domiciles Worldwide: 2000 (includes corresponding
Graph/Chart)
- Table 9: Leading Captive Insurance Managers, Worldwide: 2000 (includes
corresponding Graph/Chart)
- Why Captives?
- Traditional Carriers Also Benefit...
- Outlook
- Surplus Lines
- Firming Market Pushes P/C Lines to Surplus Carriers
- The Definition
- Deteriorating P/C Lines - The Cause
- Easing Rates and Terms
- Key Factors for Growth
- Surplus Lines Market - Current and Potential Trends
- Prospective Trends of US Specialty Lines Insurance Market
2. Recent Industry Activity
- Validus Acquires Talbot
- Hiscox Acquires Kidnap and Ransom Business from Aon
- Strategic Developments in the Past
- Capital Establishes New Subsidiary
- Argonaut Establishes Captive Business Unit
- XL Capital Establishes New Subsidiary
- Alea Purchases Seven Hills Insurance
- Front Royal Acquired by Argonaut Group
- MetLife Acquires Seguros de Vida and Soince Reinsurance
- Reinsurance Group of America Creates New Unit
- Transatlantic Re Acquires a 40% Stake in Kuwait Re
- Warren-Hoffman Acquires Health Plan Administrators
3. Alexander Forbes Ltd., South Africa - A Major Broker in the World
PET INSURANCE
1. US' Pet Insurance Market
- An Overview of the US Pet Insurance Market
- Table 10: US Recent Past, Current & Future Analysis for Pet Insurance
Market: Premiums in US$ Million for the Years 2006 through 2010 (includes
corresponding Graph/Chart)
- Expenditure on Pets Surges Ahead Among Americans
- US Pet Insurance Market Set to Strengthen Further
- Pet Insurance in the US - A Past Review
- Buoyant Growth Foreseen in Pet Insurance Market
- Leading Companies
- Petco
- Veterinary Pet Insurance
- PetPartners
- Pets Best
- American Television Acquires First Pet Life Inc.
2. Pet Insurance Market in the UK
- ' Dogging' the Pet Insurance Segment
- Low Costs Spur Sales
- Table 11: 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)
- Competitive Scenario
- Table 12: 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)
- Changing Market Conditions
- Marketing and Distribution
- Outlook
3. Japan' s Pet Insurance Market
4. Product Launches
- Vsurance to Launch Insurance Product for New Pet Owners
- Greenbee.com Offers New Pet Insurance Cover
- Vsurance Introduces Pet Boarding Kennel Insurance
- Buddies Launches Discount Pet-Insurance Scheme
MUNICIPAL BOND INSURANCE
1. Market Overview
- Regional Snapshots of Municipal Bond Insurance - A Historic Review
- United States
- Tax Exempt Debt Insurance Rides High
- Market Leaders
- Chile
- Table 13: Leading Bond Insurers in Chile for 2001: Percentage Market Share
by Company (includes corresponding Graph/Chart)
- Construction and Other Bonds
2. Focus on Select Players
- Ambac Assurance Corp., US
- Financial Guaranty Insurance, US
- Financial Security Assurance Holdings Ltd., US
FIDELITY INSURANCE INDUSTRY
1. Market Primer
- Cyber Crime and Fidelity Insurance
- Rise in Internet Connections Contribute to the Problem...
- Low Premiums a Cause for Concern
- Fidelity and Globalization
2. Fidelity Insurance Market in the US
- Market Leaders
- Table 14: US Fidelity Writers - Market Shares of Leading Companies for
2004 (includes corresponding Graph/Chart)
3. Fidelity Insurance Market in Canada
POLITICAL RISK INSURANCE INDUSTRY
1. Political Risk -An Overview
- Companies Turn to Political Risk Insurance
- Major Political Risks...
- Aversion for Overseas Investments Mars Political Insurance Prospects - A
Retrospect
- Restoring Confidence in the Global Economy
- Pricing
2. Product Launches in the Past
- AIG Global Trade and Political Risk Insurance' s Policy
- MAP Underwriting Offers Coverage for Political Violence
- Zurich NA' s Political Risk Enhancement Policy on Brazilian Bond
COMPETITIVE LANDSCAPE
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