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  4. > Bancassurance in France: Life, Non-Life and Creditor Insurance

Bancassurance in France: Life, Non-Life and Creditor Insurance is a study and related PartnerBASE™ dataset examining the provision of life, non-life and creditor insurance by banks and other lending institutions in France.

Drawing on the results of a survey of 74 banking entities in France, the study verifies the percentage of organisations investigated that distribute each of the following 13 types of insurance: accident insurance, creditor insurance related to consumer finance, creditor insurance related to credit cards, creditor insurance related to mortgages, critical illness insurance, health / hospital cash plans, household insurance, income protection insurance, investment-related life insurance, medical expenses insurance, personal motor insurance, retirement savings, and risk life insurance.

For those banking entities that are active in one or more of these fields, the reports ascertain the operating models that they use to source the type of insurance in question (e.g. external, joint venture or captive underwriters) and the identity of the specific providers used. This information is then displayed in terms of the weighted share of partnerships of these providers, which takes into account the number of retail customers of the partner banking entities, thus highlighting those insurance companies that hold the distribution relationships that offer the most potential.

You may be able to use this report, plus the PartnerBASE™ dataset and market data annexes that accompany it, in one or more of the following ways:

- gain access to a source of information that provides a comprehensive overview of the provision of personal insurance products by all significant banking entities in France;

- identify partnership opportunities for the same personal insurance products that may arise either because a banking institution is not currently active or because there is scope for replacing an existing initiative;

- understand which underwriters and other product providers have been successful in establishing distribution relationships with the most important banking entities in France;

- assess the background to the most significant bancassurance deals, differentiating between those that originate from long-term or strategic objectives and those that are more transient;

- appreciate the magnitude of the opportunity to sell personal insurance products through banks and other lending institutions in France.

Overall, in a market in which banks hold a dominant position in the life insurance market and a steadily growing share of non-life insurance, across the 74 banks and other lending institutions researched in France, Finaccord’s research identified over 300 bancassurance distribution initiatives for the various types of insurance investigated.

Table Of Contents

Bancassurance in France: Life, Non-Life and Creditor Insurance
0.0 EXECUTIVE SUMMARY 1
1.0 INTRODUCTION 3
What is this report about? 3
This report provides a comprehensive analysis of loan-related insurance policies in France 3
Rationale 3
The report tracks 132 separate initiatives for marketing creditor insurance through lending institutions 3
Methodology 3
Survey of banks and other lending institutions 3
Market data 4
Definitions 5
Creditor insurance 5
Mortgages, consumer finance and credit cards 5
Weighted provider share of partnerships 6
Operating models 6
Abbreviations and exchange rates 7
PartnerBASEâ„¢ and market data annexe 7
Finaccord 7
2.0 MARKET ANALYSIS 9
Banks and other lending institutions covered 9
Introduction to the banking sector 9
The French consumer banking sector is fairly concentrated… 9
…and all major banking groups have set up captive insurance providers 9
Consumer lending market size and growth 10
Mortgage lending 10
Mortgage balances outstanding continue to increase steadily in both nominal and real terms… 10
Non-mortgage lending 12
…although the value of total non-mortgage consumer lending has fallen back in recent years 12
Credit and other pay later cards 13
The number of credit cards in circulation increased slightly in both 2012 and 2013 13
Creditor insurance provision rates, operating models and partnerships 14
Creditor insurance linked to mortgages 14
The vast majority of mortgage borrowers take out mortgage-related life cover as a minimum 14
CNP Assurances is easily the most visible provider in terms of weighted share of partnerships 14
…although the partnership with Groupe BPCE is subject to change from 2016 onwards 15
... with ACM and Cardif the next most significant competitors 15
Both Credit Agricole and Groupe BPCE use a hybrid model in this arena 15
As well as CNP Assurances, external providers include AXA, QUATREM and Swiss Life 15
Creditor insurance linked to consumer finance 17
Virtually all providers of consumer finance offer a related creditor insurance policy 17
CNP Assurances and Sogecap are likely to be market leaders in this arena... 17
... although Cardif has the highest number of distribution agreements in place… 17
…in another market which is largely dominated by captive underwriters 17
In total, approaching 30 legally distinct underwriting entities are active in this arena 18
Creditor insurance linked to credit cards 20
Credit card payment protection insurance is commonly marketed by card issuers in France 20
CNP Assurances again claims the highest weighted share of partnerships in this field... 20
…and partnerships are mainly similar to those for creditor insurance linked to consumer finance 20
Only five credit card issuers lack an arrangement in this field 20
Creditor insurance risk coverage 22
Cover for death and permanent disability is universal across all types of creditor policy 22
Performance of key bancassurance underwriters 23
CNP Assurances underwrites over EUR 2.5 billion of creditor insurance premiums in France... 23
... in a market in which various attempts have been made by regulators to increase competition... 23
... with further legislation potentially on its way 24
Alternative distribution channels 24
Creditor insurance is available from numerous sources apart from lending institutions... 24
... including major generalist and specialist underwriters... 24
... plus both long-established financial intermediaries, such as APRIL, and newer comparison websites 24
However, lending institutions remain the single most important distribution channel for this policy type 24
Creditor insurance market size, growth and forecast 25
Growth in mortgage-related creditor insurance premiums is most robust 25
Statistics exist to help quantify the market for creditor insurance in France 28


List of Graphics / Tables


0.0 EXECUTIVE SUMMARY 1
Creditor insurance gross written premiums in France, segmented by policy and cover type, 2009, 2013
and 2017 2
1.0 INTRODUCTION 3
Banks and other lending institutions in France contacted by Finaccord, segmented by type 4
2.0 MARKET ANALYSIS 9
Residential mortgage lending balances outstanding in France (absolute and per capita), 2009 to 2013 .. 11
Consumer non-mortgage lending balances outstanding in France (absolute and per capita), 2009 to 2013
12
Credit and other pay later cards issued and per capita in France, 2009 to 2013 13
Key data points for the consumer lending market in France, 2009 to 2013 14
Provision of creditor insurance linked to mortgages in France, 2014: provision rate, operating models and
weighted provider share of partnerships 16
Provision of creditor insurance linked to consumer finance in France, 2014: provision rate, operating
models and weighted provider share of partnerships 19
Provision of creditor insurance linked to credit cards in France, 2014: provision rate, operating models and
weighted provider share of partnerships 21
Risk coverage of creditor insurance policies in France, segmented by type of underlying product, 2014 . 22
Premiums written in total creditor insurance by key bancassurance underwriters in France, 2012 23
Creditor insurance gross written premiums in France, segmented by policy type, 2009, 2013 and 2017 . 26
Creditor insurance gross written premiums in France, segmented by cover type, 2009, 2013 and 2017 .. 27
Creditor insurance gross written premiums in France, segmented by policy and cover type, 2009, 2013
and 2017 29

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