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Monday 7th June 2010 page 1 The future of bancassurance: Rebuilding confidence David Angulo, Aviva Europe Bancassurance Director.

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Presentation on theme: "Monday 7th June 2010 page 1 The future of bancassurance: Rebuilding confidence David Angulo, Aviva Europe Bancassurance Director."— Presentation transcript:

1 Monday 7th June 2010 page 1 The future of bancassurance: Rebuilding confidence David Angulo, Aviva Europe Bancassurance Director

2 Monday 7th June 2010 page 2 Bancassurance today MACROECONOMICS CUSTOMER REGULATION BANKS

3 Monday 7th June 2010 page 3 The environment BANCASSURANCE Macroeconomics: Public accounts turmoil Unemployement Volatility of financial markets Banking industry: Capital / P&L constrains Restructuring underway Potential liquidity issues Regulation: Solvency II Basel II & III Capital requirements Customer: Demand for protection Savings propensity Looking for guarantees

4 Monday 7th June 2010 page 4 Aviva 2009 performance

5 Monday 7th June 2010 page 5 The European market

6 Monday 7th June 2010 page 6 Aviva clear strategic delivery

7 Monday 7th June 2010 page 7 Aviva Q highlights Q % growth of life business compared to previous quarter Aviva Europe Bancassurance grew 48% from the previous quarter up to £2.611m with different performance through out the European markets and 20% growth from Q Group margin in line with full year 2009 IGD solvency surplus at £4.400m after deducting final dividend (FY:£4.500m) Strong growth of volumes in life business in Q and maintained focus on capital resources

8 Monday 7th June 2010 page 8 Macroeconomics & political situation Unpopular reforms and political actions are being triggered by the current economic situation and governments should take the lead to promote private savings UNCERTAINTY

9 Monday 7th June 2010 page 9 The banking industry Banks need additional sources of profit including general insurance business while margins are under pressure and lending activity is at very low level. The final outcome of consolidation process is still unknown UNCERTAINTY

10 Monday 7th June 2010 page 10 The customer Given the current economic situation customers with increased savings propensity show a demand for protection a savings business providing guarantees UNCERTAINTY

11 Monday 7th June 2010 page 11 Regulation Uncertainty generated by regulation evolution in banking and insurance industries with potential increased capital requirements foreseen in the near future UNCERTAINTY

12 Monday 7th June 2010 page 12 Foundations for bancassurance remain the same BANCASSURANCE SIMPLICITY EFICIENCY & EXCELENCE INTEGRATION PROFITABILITY BACK TO BASICS

13 Monday 7th June 2010 page 13 The future of bancassurance Joint venture vs. Distribution agreement Protection General insurance Specific savings Demand: Protection Guarantees BANCASSURANCE

14 Monday 7th June 2010 page 14 Summary of bancassurance Bancassurance can cover some of the shortfall in banking P&L Back to basics and focus on capital and results remain in current situation Long term savings picking up compared to previous year Potential to develop General insurance Retention of current portfolios important in a difficult new business market Market consolidation will change banking landscape in Europe Regulatory changes may affect the participations of banks in insurance business Uncertainty is driving customer demands Governments should promote long term savings and pensions in current environment Bancassurance landscape to change in the medium term driven by consolidation and regulation but will remain as a relevant channel with additional potential to develop GI

15 Monday 7th June 2010 page 15 “Often the difference between a successful person and a failure is not one has better abilities or ideas, but the courage that one has to bet on one's ideas, to take a calculated risk - and to act.” Andre Malraux (French historian, novelist and statesman )

16 Monday 7th June 2010 page 16© Aviva plc


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