Life and Pensions Quarterly Competitor Tracker Q4 2009
The Life and Pensions Competitor Tracker tracks strategic developments in product innovation, customer targeting, M&A, partnerships and organic growth. It provides expert analysis about trends developing in the global market, supported by the strategic moves of 42 of its leading competitors.
Reasons to Purchase
*Track the strategic developments announced by 42 of your key competitors.
*Assess which geographies and strategic areas are seeing the most activity.
Table of Contents 2
Table of figures 3
Table of tables 4
INTRODUCTION 5
The Life and Pensions Competitor Tracker provides both one month and 12 month views of developments 5
Datamonitor tracks 42 key life and pensions providers and distributors each quarter 5
Datamonitor’s Life and Pensions Team provides analysis of the key developments 5
A fully searchable database of the past 12 months of developments is also delivered alongside in the report 6
KEY TRENDS AND DEVELOPMENTS IN Q4 2009 7
The life and pensions market has observed several competitor developments and industry trends 7
Innovating technology and delivery has received a great deal of attention from competitors 7
Competitors are not looking for transformational deals but instead have looked towards retaining value in their domestic markets 7
Aviva and Manulife consistently forges ahead in competitor developments 7
The fourth quarter of 2009 records an above average pace of competitor developments 9
Competitors reinvigorated their developments in Q4 2009 compared to the previous quarter 9
M&A, partnerships and organic growth activity remain muted compared to product innovation developments 10
Innovations in protection insurance are maintained into Q4 2009 11
Competitors continue to not focus on customer targeting developments into the fourth quarter of 2009 12
Mergers and acquisition activity gathered pace strongly in the fourth quarter of 2009 13
Competitors continue to focus efforts back in domestic markets over emerging markets 14
PRODUCT INNOVATION AND CONSUMER TARGETING 15
AMP 15
Australia: AMP extends superannuation offer to employers 15
Aviva 15
India: Aviva India launches nine new unit-linked products and thematic funds 15
Netherlands: Delta Lloyds launches a new collective pension solution 16
Netherlands: Delta Lloyd to introduce index fund to lifecycle of premium plan 16
Netherlands: Delta Lloyd brings in online pension modification for employers 16
Netherlands: Delta Lloyds to launch a new pension model 17
Poland: Aviva introduces fund that limits potential losses 18
Poland: Aviva launches a campaign in Poland to encourage customers to take out life insurance 18
UK: Aviva’s unit-linked UK property fund removes withdrawal restrictions 19
UK: Aviva launches new with-profits money-back guarantee 19
UK: Aviva enhances its income protection solutions 19
UK: Aviva launches new tranche of Guaranteed Fund 20
UK: Aviva’s UK pension range and investment bonds get new funds 20
UK: Aviva launches online services and information portal for advisors 20
UK: Aviva increases maximum limit of critical illness insurance 21
UK: Improving stock markets decrease market value reductions on Aviva’s with-profit funds 21
Co-operative Investments 22
UK: The Co-operative Investments announces new bonus rates for with-profit policy holders 22
Friends Provident 22
UK: Friends Provident enhances its current lifestyle investment program 22
UK: Friends Provident streamlines its administration process by joining Origo’s online service 23
UK: Friends Provident partners with Tesco in the life insurance sector 23
Guardian Life 24
US: Guardian launches a new website to support life insurance 24
US: John Hancock launches Customer Care ll Enhanced 24
US: John Hancock Retirement Plan Services launches enhanced website for financial representatives 25
Lincoln Financial Group 25
US: Lincoln Financial Group releases new purchase payment product 25
US: Lincoln Financial Group augments its group life and disability products with new website 26
US: Lincoln Financial Group launches a new retirement solution 26
Liverpool Victoria 27
UK: Liverpool Victoria launches a new advisor website 27
Manulife 27
Canada: Manulife’s disability customers can switch to long-term care insurance 27
Singapore: Manulife launches Solitaire for legacy creation 28
Taiwan: Manulife launches two variable annuity products 28
Nationwide 29
UK: Nationwide enhances its Over 55 Life Cover Plan 29
Prudential 29
UK: Prudential Financial launches new retirement model 29
Lloyds Banking Group 30
UK: Scottish Widows retirement account enhanced by the addition of Fixed-Term Cash Deposit 30
The Hartford 30
US: The Hartford’s new retirement plan provides long-term investment growth and guaranteed lifetime income 30
US: The Hartford launches voluntary group life and disability insurance 31
US: The Hartford launches disability coverage as an option on most of its permanent life insurance policies 31
M&A, PARTNERSHIPS AND ORGANIC GROWTH 33
American International Group 33
China: AIG to sell Nan Shan to consortium led by Primus Financial Holdings 33
AMP 33
Australia: AMP makes offer for AXA APH’s Australia and New Zealand business 33
China: AMP announces strategic partnership with China Life Group 34
Aviva 35
Australia: Aviva sells its Australian business 35
Europe: Aviva to integrate its business across Europe – October 2009 35
India: Aviva India and India Post enter strategic partnership 36
AXA 36
Central and Eastern Europe: AXA plans to strengthen its position in Central and Eastern Europe 36
Barclays 36
UK: Standard Life Bank to be acquired by Barclays Bank 36
BNP Paribas 37
France: BNP Paribas announces acquisition of Dexia Epargne Pension 37
CNP Assurances 37
Portugal: CNP Assurances sells its stake in Global Seguros 37
Fortis 37
Thailand: Fortis, Kasikornbank and Muang Thai strengthen their relationship 37
Guardian Life 38
US: Edward Jones to distribute John Hancock Life Insurance products 38
HSBC 38
Vietnam: HSBC Insurance Holdings signs agreement to increase stake in Bao Viet Holdings 38
ING 39
Australia: ING divests its Australia and New Zealand Insurance business 39
Europe: ING to restructure its operations by separating its banking and insurance units 39
Lincoln National 39
UK: Sun Life Financial of Canada acquires Lincoln National (UK) 39
Manulife 40
China: Manulife gets approvals to expand in China 40
APPENDIX 41
Methodology 42
Ask the analyst 42
Datamonitor consulting 42
Disclaimer 42
List of Tables
Table 1: The 42 companies covered by Datamonitor’s Life and Pensions Competitor Tracker 5
Table 2: Competitors achieving more than 3 product innovations in the past 12 months 8
List of Figures
Figure 1: Total number of competitor developments in Q4 2009 increased by 46% from the previous quarter 9
Figure 2: Products innovation developments continue their dominance over M&A, partnership or organic growth activities 10
Figure 3: Technological innovations became more of a competitor development feature in Q4 2009 11
Figure 4: Product innovation continues to be at the forefront of competitors minds over customer targeting in Q4 2009 12
Figure 5: M&A developments from competitors were strongest in Q4 2009 13
Figure 6: Competitors are refocusing on their operations in their domestic markets 14
Table of figures 3
Table of tables 4
INTRODUCTION 5
The Life and Pensions Competitor Tracker provides both one month and 12 month views of developments 5
Datamonitor tracks 42 key life and pensions providers and distributors each quarter 5
Datamonitor’s Life and Pensions Team provides analysis of the key developments 5
A fully searchable database of the past 12 months of developments is also delivered alongside in the report 6
KEY TRENDS AND DEVELOPMENTS IN Q4 2009 7
The life and pensions market has observed several competitor developments and industry trends 7
Innovating technology and delivery has received a great deal of attention from competitors 7
Competitors are not looking for transformational deals but instead have looked towards retaining value in their domestic markets 7
Aviva and Manulife consistently forges ahead in competitor developments 7
The fourth quarter of 2009 records an above average pace of competitor developments 9
Competitors reinvigorated their developments in Q4 2009 compared to the previous quarter 9
M&A, partnerships and organic growth activity remain muted compared to product innovation developments 10
Innovations in protection insurance are maintained into Q4 2009 11
Competitors continue to not focus on customer targeting developments into the fourth quarter of 2009 12
Mergers and acquisition activity gathered pace strongly in the fourth quarter of 2009 13
Competitors continue to focus efforts back in domestic markets over emerging markets 14
PRODUCT INNOVATION AND CONSUMER TARGETING 15
AMP 15
Australia: AMP extends superannuation offer to employers 15
Aviva 15
India: Aviva India launches nine new unit-linked products and thematic funds 15
Netherlands: Delta Lloyds launches a new collective pension solution 16
Netherlands: Delta Lloyd to introduce index fund to lifecycle of premium plan 16
Netherlands: Delta Lloyd brings in online pension modification for employers 16
Netherlands: Delta Lloyds to launch a new pension model 17
Poland: Aviva introduces fund that limits potential losses 18
Poland: Aviva launches a campaign in Poland to encourage customers to take out life insurance 18
UK: Aviva’s unit-linked UK property fund removes withdrawal restrictions 19
UK: Aviva launches new with-profits money-back guarantee 19
UK: Aviva enhances its income protection solutions 19
UK: Aviva launches new tranche of Guaranteed Fund 20
UK: Aviva’s UK pension range and investment bonds get new funds 20
UK: Aviva launches online services and information portal for advisors 20
UK: Aviva increases maximum limit of critical illness insurance 21
UK: Improving stock markets decrease market value reductions on Aviva’s with-profit funds 21
Co-operative Investments 22
UK: The Co-operative Investments announces new bonus rates for with-profit policy holders 22
Friends Provident 22
UK: Friends Provident enhances its current lifestyle investment program 22
UK: Friends Provident streamlines its administration process by joining Origo’s online service 23
UK: Friends Provident partners with Tesco in the life insurance sector 23
Guardian Life 24
US: Guardian launches a new website to support life insurance 24
US: John Hancock launches Customer Care ll Enhanced 24
US: John Hancock Retirement Plan Services launches enhanced website for financial representatives 25
Lincoln Financial Group 25
US: Lincoln Financial Group releases new purchase payment product 25
US: Lincoln Financial Group augments its group life and disability products with new website 26
US: Lincoln Financial Group launches a new retirement solution 26
Liverpool Victoria 27
UK: Liverpool Victoria launches a new advisor website 27
Manulife 27
Canada: Manulife’s disability customers can switch to long-term care insurance 27
Singapore: Manulife launches Solitaire for legacy creation 28
Taiwan: Manulife launches two variable annuity products 28
Nationwide 29
UK: Nationwide enhances its Over 55 Life Cover Plan 29
Prudential 29
UK: Prudential Financial launches new retirement model 29
Lloyds Banking Group 30
UK: Scottish Widows retirement account enhanced by the addition of Fixed-Term Cash Deposit 30
The Hartford 30
US: The Hartford’s new retirement plan provides long-term investment growth and guaranteed lifetime income 30
US: The Hartford launches voluntary group life and disability insurance 31
US: The Hartford launches disability coverage as an option on most of its permanent life insurance policies 31
M&A, PARTNERSHIPS AND ORGANIC GROWTH 33
American International Group 33
China: AIG to sell Nan Shan to consortium led by Primus Financial Holdings 33
AMP 33
Australia: AMP makes offer for AXA APH’s Australia and New Zealand business 33
China: AMP announces strategic partnership with China Life Group 34
Aviva 35
Australia: Aviva sells its Australian business 35
Europe: Aviva to integrate its business across Europe – October 2009 35
India: Aviva India and India Post enter strategic partnership 36
AXA 36
Central and Eastern Europe: AXA plans to strengthen its position in Central and Eastern Europe 36
Barclays 36
UK: Standard Life Bank to be acquired by Barclays Bank 36
BNP Paribas 37
France: BNP Paribas announces acquisition of Dexia Epargne Pension 37
CNP Assurances 37
Portugal: CNP Assurances sells its stake in Global Seguros 37
Fortis 37
Thailand: Fortis, Kasikornbank and Muang Thai strengthen their relationship 37
Guardian Life 38
US: Edward Jones to distribute John Hancock Life Insurance products 38
HSBC 38
Vietnam: HSBC Insurance Holdings signs agreement to increase stake in Bao Viet Holdings 38
ING 39
Australia: ING divests its Australia and New Zealand Insurance business 39
Europe: ING to restructure its operations by separating its banking and insurance units 39
Lincoln National 39
UK: Sun Life Financial of Canada acquires Lincoln National (UK) 39
Manulife 40
China: Manulife gets approvals to expand in China 40
APPENDIX 41
Methodology 42
Ask the analyst 42
Datamonitor consulting 42
Disclaimer 42
List of Tables
Table 1: The 42 companies covered by Datamonitor’s Life and Pensions Competitor Tracker 5
Table 2: Competitors achieving more than 3 product innovations in the past 12 months 8
List of Figures
Figure 1: Total number of competitor developments in Q4 2009 increased by 46% from the previous quarter 9
Figure 2: Products innovation developments continue their dominance over M&A, partnership or organic growth activities 10
Figure 3: Technological innovations became more of a competitor development feature in Q4 2009 11
Figure 4: Product innovation continues to be at the forefront of competitors minds over customer targeting in Q4 2009 12
Figure 5: M&A developments from competitors were strongest in Q4 2009 13
Figure 6: Competitors are refocusing on their operations in their domestic markets 14
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