Báo cáo Thực trạng ngành bảo hiểm Việt Nam năm 2010 và dự báo đến năm 2014

g, Shenzhen and Jiangsu. ‘The China Insurance Regulatory Commission approved our application to establish a Wholly-Owned Foreign Enterprise... under the name AIG General Insurance Company China Limited... AIA China continued to expand on the provincial licences granted in 2006, opening 29 new sales and services centers in 2007.’ Source: AIG 2007 Annual Report, p3 AIG is the leader in accident and health insurance in the Shanghai market. Source: AIG 2007 Annual Report, p.30 ƒ Hong Kong – AIU – American International Underwriters Ltd, Hong Kong. AIA Hong Kong In 2007 AIG's Asian business generated premiums of US$14.2bn, total revenues of US$20.1bn and operating profits of US$3.2bn. Gross premiums rose by 9%. However, personal accident products and group products achieved premium growth of 20% and 36%, respectively. Life premiums rose 6%. In 2007, life premiums were US$11.6bn, while personal accident and group product premiums amount to US$1.9bn and US$661mn, respectively. Source: AIG 2007 Form 10-K, p68 ƒ India – AIU – Tata-AIG General Insurance Co Ltd (joint venture), Mumbai, etc Tata-AIG is also active in life. ‘In 2007, [Tata AIG General Insurance] had good premium growth and loss ratios below the industry average.’ Source: AIG 2007 Annual Report, p30 ƒ Indonesia – AIU – PT Asuransi AIU Indonesia, Jakarta. PT Asuransi AIA Indonesia, Jakarta ƒ Japan – AIU – AIU Insurance Company, Japan Branch, American Home Assurance Company (Japan) and JI Accident & Fire Insurance Co Ltd, Tokyo. ALICO Japan, AIG Star Life Insurance Co Ltd, Tokyo and AIG Edison Life Insurance Co, Tokyo AIG hoped to complete the merger of AIG Star Life and AIG Edison Life by early 2009. Vietnam Insurance Report Q1 2010 © Business Monitor International Ltd Page 40 ‘Further deregulation of the bank channel and the privatisation of Japan Post Insurance Co Limited are creating opportunities to sell our products through vast new distribution systems.’ Source: AIG 2007 Annual Report, p6 By the end of 2007, 203 of the 500 top Japanese companies were AIU clients. Source: AIG 2007 Annual Report, p.30 ‘ALICO's largest country operation is in Japan, where it markets an array of life, medical and annuity products... ALICO Japan reaffirmed its position... being the fifth-largest [life company] in total premium and sixth-largest in total assets. With deregulation in late 2007 permitting the sale of all life and medical insurance products through bancassurance, Japan's four largest banking groups selected ALICO Japan's products for sale to their customers.’ Source: AIG 2007 Annual Report, p33 ‘Japan and other’ life operations generated gross premiums of US$12.4bn, total revenues of US$18.2bn and operating income of US$3.0bn in 2007. Life insurance, personal accident and group products generated premiums of US$5.0bn, US$4.2bn and US$2.3bn, respectively. Source: AIG 2007 Form 10-K p66 ƒ Macau – AIU – American Home Assurance Company, Macau ƒ Malaysia – AIU – American Home Assurance Company, Kuala Lumpur. AIA – American International Assurance Company Ltd (Malaysia), Kuala Lumpur ƒ Nepal – ALICO MEASA, Kathmandu ƒ New Zealand – AIU – American Home Assurance Company, Auckland and Wellington. AIA – American International Assurance Company (Bermuda) Ltd, trading as AIG Life, Auckland and Wellington ƒ Pakistan – AIU – New Hampshire Insurance Company, Karachi. ALICO MEASA, Karachi ƒ Papua New Guinea – AIU – American Home Assurance Company, Port Moresby ƒ Philippines – AIU – Philam Insurance Company Inc, Manila. The Philippine American Life and General Insurance Company (Philamlife), Manila. Philamlife has 7,000 agents and achieved ‘excellent’ new business growth in 2007. Source: AIG 2007 Annual Report, p34 ƒ Singapore – AIU – Singapore American Home, Singapore. AIA – American International Assurance Company Ltd, Singapore ƒ South Korea – AIU – American Home Assurance Company, Seoul, etc. AIG Life, Seoul For the fourth year in a row, AIG Life Korea has been the leader in sales of Fixed Annuities through banks. Source: AIG 2007 Annual Report, p32 ƒ Sri Lanka – AIU – Hayleys AIG Insurance Company Ltd, Colombo ƒ Taiwan – AIU – AIG General Insurance (Taiwan) Company Ltd, Taipei. Nan Shan Life Insurance Company Ltd, Taipei ‘Nan Shan is the second largest insurer in terms of total premium’ [in Taiwan]. Source: AIG 2007 Annual Report, p25 ‘In 2007, Nan Shan became the first insurance company to receive permission from the Taiwan FSC to enter the wealth management Vietnam Insurance Report Q1 2010 © Business Monitor International Ltd Page 41 business.’ Nan Shan also formed a partnership with SinPac Holdings to focus on retirement savings and asset management. Source: AIG 2007 Annual Report, p34 ƒ Thailand – AIU – New Hampshire Insurance Company and Universal Insurance Company Ltd, Bangkok. AIA – American International Assurance Company Ltd, Bangkok AIA Thailand has the largest network of agents (76,000). Source: AIG 2007 Annual Report, p32 ƒ Vietnam – AIU – American International Group Inc, Representative Office, Hanoi and Ho Chi Minh City. AIA – American International Assurance (Vietnam) Ltd, Ho Chi Minh City. AIG has signed a memorandum of understanding with the Bank of Investment and Development of Vietnam. This will allow AIG to expand into non-life insurance, consumer finance and other areas. Source: AIG Annual Report, 2007, p3 Vietnam Insurance Report Q1 2010 © Business Monitor International Ltd Page 42 Allianz Company Analysis Company Details Overview Allianz Group also includes AGF and Euler Hermes. In some countries, Allianz's Global Corporate and Specialty business operates under another subsidiary. Where this is the case, that subsidiary is identified. Allianz is ‘an international financial services provider [offering] insurance, banking and asset management products and services to more than 80mn customers in over 70 countries’. Allianz Autowelt GmbH, Munich; Allianz Deutschland AG, Munich; Allianz Lebensversicherungs-AG, Stuttgart; etc. Source: www.allianz.com/en/allianz_group/about_us/lines_of_business. Corporate Highlights H107 premiums from Asia Pacific and Central and Eastern Europe rose 17% y-o-y to EUR6.3bn. Asia Pacific premiums were EUR4.1bn. In Central and Eastern Europe, life/health premiums rose 33% to EUR607mn. Poland and Slovakia accounted for EUR314mn and EUR126mn, respectively. Profit rose 21% to EUR34mn. Non-life premiums in Central and Eastern Europe rose 21% to EUR1.6bn. Poland and Romania accounted for EUR181mn and EUR173mn. Operating profit was EUR146mn. ‘While initial estimates from the GDV... insurance industry association indicate that the total German insurance market grew by 0.2% in 2007, premium income at Allianz Deutschland AG and its subsidiaries grew 1.6% to reach EUR26.1bn. The major growth driver was life insurance, especially the tax-advantaged RiesterRente and BasisRente retirement products, as well as the one-time premium business in financing retirement systems.’ Non-life premiums fell 1.2% to EUR9.4bn. ‘Most of the decrease came from developments in car insurance. Though prices were kept stable, many customers with especially safe driving records moved to a lower cost claims-free category. … The increase in new business boosted premium income in life insurance 3.9% to EUR13.5bn. Periodic premiums, which account for more than two-thirds of premium income, increased 0.7% to EUR9.4bn. … One-time premiums rose by 12% to EUR4.1bn. Private health premiums rose by 1% to EUR3.1bn. Costs were down relative to the preceding year… Allianz SE expects operating profit of a solid EUR1.8bn despite a difficult market environment.’ This compares with EUR2.7bn of operating profits in Q107. ‘Allianz Group expects markdowns of almost EUR0.9bn for Q108, which will have to be accrued in the area of structured financial products of Dresdner Bank due to the ongoing financial market crisis.’ Source: www.allianz.com/en/allianz_group/press_center/news/financial_news, May 5 2008 ƒ Parent company: Allianz SE ƒ Home country: Germany ƒ Germany ƒ Status: listed public company, based in Germany but structured as a Societas Europaea (SE) ƒ Main source for press releases: /allianz_group/press_ center/news/index.html ƒ Contact position: Head of Group Communications ƒ Contact phone: +49 89 3800 2114 ƒ Contact email: emilio.gallizugaro@ allianz.com Regional Operations ƒ Australia – Allianz Australia Ltd, Sydney; Allianz Global Corporate & Specialty, Brisbane Vietnam Insurance Report Q1 2010 © Business Monitor International Ltd Page 43 ‘Performance [in non-life insurance in the Asia Pacific region] is mainly driven by Australia, contributing roughly two-thirds to the region's total premiums of EUR1.1bn.’ Source: www.allianz.com/en/allianz_grou/press_center/news /financial_news accessed on May 5 2008 ƒ Brunei – Allianz Global Corporate ƒ China – Allianz China Life Insurance Company Ltd, Shanghai; Allianz General Representative Office, Beijing; Allianz Insurance Company, Guangzhou; Allianz Global Corporate & Specialty, Guangzhou ‘Allianz China Life was able to exceed the full-year premium of 2006 and achieved EUR130mn premium in the H107, an increase of 173%. In July, Jiangsu was added to the list of Chinese provinces where Allianz is selling life insurance.’ Source: www.allianz.com/en/allianz_group/press_center accessed on May 5 ƒ Hong Kong – Allianz Insurance (Hong Kong) Ltd, Hong Kong ƒ India – Bajaj Allianz General Insurance Co Ltd, Pune; Bajaj Allianz Life Insurance, Pune September 5 2007. ‘In India, growth of Bajaj Allianz reached 60% once again, and gross written premiums amounted to EUR640mn.’ Source: www.allianz.com/en/allianz_broup/press_center accessed on May 5 2008 ƒ Indonesia – PT Asuransi Allianz Utama Indonesia, Jakarta; PT Asuransi Allianz Life Indonesia, Jakarta ƒ Japan – Allianz Fire & Marine Insurance Japan Ltd, Tokyo; Allianz Life Insurance Japan Ltd, Tokyo ƒ Malaysia – Allianz General Insurance Malaysia Berhad, Kuala Lumpur; Allianz Life Insurance Malaysia Berhad, Kuala Lumpur ‘In Malaysia, Allianz has completed the acquisition of Commerce Assurance Berhad, placing Allianz General Insurance as a strong number two in the [non-life] market.’ Source: www.allianz.com/en/allianz_group/press_center, accessed on May 5 2008 ƒ New Zealand – Allianz Insurance New Zealand, Auckland ƒ Pakistan – Allianz EFU Health Insurance Company, Karachi ƒ Singapore – Allianz Global ƒ South Korea – Allianz Life Insurance Company Ltd, Seoul ‘The biggest life operation in the [Asia Pacific] region is still [South] Korea, where premiums amounted to EUR931mn [in H107]. Profitability more than doubled…reaching EUR78mn. Source: www.allianz.com/en/allianz_group/press_center, accessed on May 5 2008 ƒ Sri Lanka – Allianz Insurance Lanka Ltd, Colombo ƒ Taiwan – Allianz Taiwan Life Insurance, Taipei 2007 was an ‘outstanding’ year for Allianz Taiwan Life, which is the sixth-largest life insurance company within the Allianz Group. The company is now the fourth largest life insurer in Taiwan on the basis of first year premiums. CEO Chris James noted that ‘first-year premiums increased by 79%, and operating profit was ahead of plan. Another significant development in 2007 was the buy-out of joint venture partner Uni-President Group. Allianz now holds almost 100% in Allianz Taiwan Life and fully benefits from the success of the company.’ More than 80% of Allianz Taiwan Life's business comes through banks. It has over 30 bancassurance partners. The company is looking at Vietnam Insurance Report Q1 2010 © Business Monitor International Ltd Page 44 developing other distribution channels. Source: www.allianz.com/en/allianz_group/press_center/news/ company_news, accessed on May 5 2008 ƒ Thailand – Allianz CP General Insurance Co Ltd, Bangkok; Corporate & Specialty, Singapore; Allianz Insurance Co of Singapore Pte Ltd; Allianz SE-Reinsurance Branch Asia Pacific, Singapore & Specialty, Bandar Seri Begawan; National Insurance Vietnam Insurance Report Q1 2010 © Business Monitor International Ltd Page 45 Aviva Company Analysis Company Details Overview ‘Aviva is the world’s fifth-largest [in terms of gross written premiums] insurance group and the largest insurance services provider in the UK. We are one of the leading providers of life and pension products in Europe and are actively growing our long-term savings businesses in Asia Pacific and the USA. Our main activities are long-term savings, fund management and general insurance. We have premium income and investment sales of GBP49.2bn and GBP364bn of funds under management. … 57,000 employees serving around 45mn customers.’ Source: May 15 2008 At the end of April 2008 the company announced that Aviva would be the customer brand for the group worldwide. Norwich Union, Commercial Union Poland and Hibernian brands will all be replaced with Aviva. Source: company Press Release, April 29 2008 Corporate Highlights Aviva plc, Norwich Union Life, Norwich Union Insurance, RAC etc, London, Norwich, York, etc. Norwich Union is one of the top three players in each of its key markets, savings, protection, annuities and pensions. It has around 7mn customers in the UK and claims a market share of 10.6%. Norwich Union Insurance is the UK's largest general insurer, with a 15% market share. It provides insurance to 20% of households, one-seventh of the national car feet and about 800,000 businesses. Headquartered in Norwich, it employs 18,600 staff. RAC provides roadside assistance, etc in the UK and to over 2mn Aviva customers in France. Norwich Union Healthcare is one of the UK’s leading health insurers, with 800,000 customers. In 2007 total sales (including net written premiums and present value of new business premiums) were GBP49,152mn. 42% of this was from UK businesses, while 40%, 10% and 8% was from continental Europe, North America and the Asia Pacific, respectively. In gross written premiums, Aviva's business grew from GBP30,991mn in 2006 to GBP45,575mn in 2007. For life/long-term savings, the figures were GBP19,564mn and GBP34,206mn, respectively. For its non-life business, the figures were GBP11,427mn, and GBP11,369mn. Source: Aviva plc 2007 Annual Report and corporate profile, April 2008 Regional Operations ƒ Australia – Aviva Australia Holdings, Melbourne This is one of the 10 largest life companies in Australia. Aviva also provides superannuation products and, via its Navigator operation, is a significant administrator of retail savings. Australian sourced assets under management amount to GBP4.2bn via the Portfolio Partners asset management business and about GBP4bn through Aviva Holdings. Navigator administers an additional GBP4bn or so. ƒ China – Aviva-Cofco (50%), Guangzhou ƒ Parent company: Aviva plc ƒ Home country: UK ƒ Status: public listed company ƒ Main source for press releases: aviva.com/index.asp? pageid=55 ƒ Contact: Aviva press office ƒ Contact phone: +44 20 7283 2000 Vietnam Insurance Report Q1 2010 © Business Monitor International Ltd Page 46 One of the largest foreign insurer joint ventures in China in terms of income. China National Cereals, Oils & Foodstuffs Import & Export Corporation (COFCO) is a major state-owned enterprise. The joint venture has branches in Guangzhou, Beijing, Chengdu, Fuzhou, Jinan, Changsha, Shijiazhuang and Jiangsu. There are also 15 sales offices in Guangdong, Sichuan, Fujian, Hunan and Shandong. ƒ Hong Kong – Aviva This is the 14th largest life company in Hong Kong. ƒ Malaysia – Commerce Life Assurance and Commerce Takaful (49%), Kuala Lumpur Aviva formed a joint venture with CIMB Group (Bumiputra Commerce Holdings) in mid-2007. ƒ Singapore – Aviva, Singapore Aviva leads in overall sales of long-term savings products (including unit trusts). It is also the leader in the employee benefits and healthcare sectors. ƒ South Korea – Aviva has formed a consortium with Woori Bank to take a 91.65% stake in LIG Life Insurance, the 20th largest (out of 22) in South Korea. The two partners hope to develop LIG Life through bancassurance via Woori's network. LIG focuses on the area around Busan. ƒ Sri Lanka – Eagle Insurance, Colombo This is the third largest life insurer, with a 20% market share. It is the fifth largest non-life insurance company. ƒ Taiwan – First-Aviva (49%), Taipei A joint venture with First Financial, the owner of First Commercial Bank, the second largest in terms of network size. First Commercial Bank has 5mn retail customers. Vietnam Insurance Report Q1 2010 © Business Monitor International Ltd Page 47 AXA Company Analysis Company Details Vietnam SWOT Analysis Strengths (internal) ƒ Able to leverage from global presence and resources ƒ Holds a 16.6% strategic stake in Bao Minh and have established a strategic partnership Weaknesses (internal) ƒ Not (yet) trading under its own name in Vietnam.= Opportunities (external) ƒ Strong growth in premiums and new business likely as insurance continues to gain traction ƒ Well placed to benefit from development of organised savings Threats (external) ƒ Competition from other, larger life groups Corporate Highlights GIE AXA, AXA ART, AXA Cessions, AXA France, AXA Protection juridique, Direct Assurance, Mutuelle Saint-Christophe, AXA Corporate Solutions Assurance (France), AXA RE, AXA Liabilities Managers, ACA RE Finance, MAXIS, Paris. Non-life revenues in 2007 were EUR5,330mn. AXA was the second-largest player in 2006, with a 16% market share. Life revenues in 2007 were EUR15,045mn. AXA was the third largest player in 2006, with an 8% market share. Source: AXA 2007 Annual Report, pp21-28 Regional Operations ƒ Australia – AXA Asia Pacific Holdings, AXA Australia, AXA RE Asia Pacific Pte Ltd, Melbourne Life revenues in 2007 were EUR1,384mn. Source: AXA Annual Report 2007, pp21-28 ƒ China – AXA General Representative Office, Beijing; AXA-Minmetals Assurance, Shanghai; Winterthur Insurance Asia Ltd, Shanghai ƒ Hong Kong – AXA China Region, AXA General Insurance Hong Kong, AXA Wealth Management (HK) Ltd, AXA RE, Hong Kong. Life premiums were EUR1,257mn in 2007. Source: AXA Annual Report 2007, pp21-28 ƒ India – Bharti AXA Life Insurance, Mumbai; AXA Business Services Pvt Ltd, Bangalore ƒ Indonesia – PT Asuransi AXA Indonesia, PT AXA Life Indonesia, Winterthur Life Indonesia, Jakarta ƒ Japan – AXA Japan Holding Company Ltd, AXA Life Insurance Co Limited, AXA Non-Life Insurance Company Ltd, AXA RE Japan, Tokyo ƒ Parent company: AXA SA ƒ Home country: France ƒ Status: public listed company ƒ Main source for press releases: com/en/press/pr/ ƒ Contact: Media relations ƒ Contact phone: +33 1 4075 4674 Vietnam Insurance Report Q1 2010 © Business Monitor International Ltd Page 48 Life revenues in 2007 were EUR5,116mn. In 2006 AXA was the 12th largest life company in Japan, with a 2% market share. Source: AXA 2007 Annual Report, pp21-28 ƒ Malaysia – AXA Affin General Insurance Bhd; AXA AFFIN Life Insurance Bhd, Kuala Lumpur; AXA RE Asia Pacific, Labuan ƒ Mexico – AXA bought ING Seguros from ING for USD1.5bn in February 2008. ‘ING Seguros is the third largest Mexican insurer (12% total market share, 5.5mn clients), with leading positions in key markets such as Motor (second largest player with a 17% market share) and health (largest player with a 19% market share). ING Seguros is also active on the life market with a 6% market share. ING Seguros’ franchise is supported by an extensive proprietary distribution network of 7,500 agents, of which 1,500 are specialised life agents. The Company’s top line has been relatively stable over the last years, as it was gradually withdrawing from some non-profitable large P&C business lines, while facing softening conditions in the motor business. AXA intends to accelerate and complete the initiated turnaround of ING Seguros by dedicating seasoned management capabilities and leveraging the group’s global platforms and expertise, notably in IT and reinsurance. Upon completion of the transaction, ING Seguros will be integrated to AXA’s Mediterranean Region unit and benefit from its knowhow in underwriting, claims management, client segmentation, service and brand management.’ Source: 20080212.pdf, May 9 2008 ƒ New Zealand – AXA New Zealand, Wellington ƒ Philippines – Philippine AXA Life Center, Manila ƒ Singapore – AXA Asia Regional Centre; AXA Corporate Solutions Marine Division; AXA Insurance Singapore Pte Ltd; AXA Life Insurance Singapore Company Ltd, Singapore In 2007 life revenues from AXA's Asia Pacific operations outside Australia/New Zealand and Hong Kong, together with life revenues from Central and Eastern Europe and the Middle East (excluding Turkey), were EUR866mn. Source: AXA Annual Report 2007, pp21-28 ƒ South Korea – Kyobo AXA Insurance Co, Seoul (90%) ƒ Taiwan – Winterthur Life Taiwan Branch, Taipei ƒ Vietnam – In September 2007 AXA took a 16.6% strategic stake in Bao Minh and established a strategic partnership. Source: AXA Annual Report 2007, p11 Vietnam Insurance Report Q1 2010 © Business Monitor International Ltd Page 49 Cardif Company Analysis Company Details Vietnam SWOT Analysis Strengths (internal) ƒ Able to leverage from global presence and resources Weaknesses (internal) ƒ At this time only operating a representative office in Vietnam Opportunities (external) ƒ May be able to benefit from the development of organised savings Threats (external) ƒ Competition from other, larger life groups Overview Cardif, Paris, etc; BNP Paribas Assurance, Paris, etc. BNP Paribas Assurance is the Life and Property & Casualty insurance unit of BNP Paribas. It develops and markets products and services under two commercial brands. Products distributed through the BNP Paribas retail branch network in France are branded BNP Paribas. Those distributed by other channels in France and in international markets are branded Cardif. BNP Paribas Assurance is the world leader in creditor insurance and the fourth largest life insurance company in France. Its life and non-life insurance units have received an AA+ rating from Standard & Poor’s. It had gross written premiums of EUR18bn in 2007. With operations in 42 countries, BNP Paribas Assurance generated 43% of its 2007 gross written premiums outside the BNP Paribas group and 39% of gross written premiums outside France. Source: Press Release: BNP Paribas Assurance. Results at December 31 2007, published March 27 2008 18% of overall premiums are protection/property and casualty. 82% of premiums are generated by savings products. Outside France, Cardif offers protection products and/or creditor insurance products in virtually all markets in which it operates. Source: www.cardif.com, May 22 2008 Corporate Highlights ‘Gross written premiums in France were stable compared with the previous year, totalling EUR11bn, or 61% of total gross written premiums. BNP Paribas Assurance gross written premiums for the savings segment were EUR10.1bn. The decline in this segment was contained at 1%, a result better than the overall market, which saw a 3% drop in savings inflows.’ ƒ Parent company: BNP Paribas Assurances ƒ Home country: France ƒ Status: subsidiary of BNP Assurances, in turn an element of BNP Paribas Group ƒ Main source for press releases: cardif.com/pages/espace _presse/france_gb.html ƒ Contact: Media contact ƒ Contact phone: +33 1 41 42 25 60 ƒ Contact email: laurence. pessez@bnpparibas.com Vietnam Insurance Report Q1 2010 © Business Monitor International Ltd Page 50 ‘BNP Paribas Assurance maintained inflows at levels nearly equivalent to 2006 despite a more difficult market environment than 2006, which was an exceptional year due to transfers of assets under the Fourgous legislation and to the change in legislation governing housing savings plans, energising the entire segment. BNP Paribas Assurance retained its position as the fourth largest life insurer in France in 2007. Its market share in the bancassurance segment rose 0.8 points in a year to 13.5%.’ ‘This good performance was due in particular to an increase in new cash from clients of BNP P