Overview

Introduction

This tracker covers merger and acquisition activity globally, across the life and pensions space. It also highlights the strategic partnerships, and expansion, or contraction, of existing businesses. There is also a focus on the key emerging markets, namely China, India, CEE and the Middle East.

Scope

• The tracker covers the M&A and partnership activities of the largest global and regional life and pensions companies
• It provides an update of each player' s activities in this area and a roundup chapter which offers readers a summary of key trends in that quarter
• The tracker is global in coverage, therefore encompassing market entry strategies as well as domestic M&A activity

Report Highlights

The focus of M&A activity in the first quarter of 2007 has been on acquiring additional distribution channels and deepening local presence

The activity in the partnerships area in Q1 2007 has been extensive, again mostly focused on building distribution channels. Building partnerships, seems to be the preferred means of accessing new distribution channels, despite the less preferable commission rates that are involved with partnering with a distributor rather then buying them outright

Reasons to Purchase

• Understand the competitor activity in your market and potential threats and opportunities
• Gain insight into your competitor' s strategic movements
• Keep up to date with the latest developments and activity in your market

• The Roundup 3
  • Mergers and acquisitions 3
  • Partnerships 3
  • Emerging market entry 3
  • Organic growth 4
• The Developments 5
  • AIG 5
  • Allianz 5
  • AXA 7
  • CNP Assurances 8
  • ING 9
  • ING Australia and ANZ bank join forces to offer instant life insurance - March 2007 9
  • KBC 9
  • Liverpool Victoria 10
  • Manulife 10
  • Prudential 11
  • Sampo Life 12
  • Skandia 12
  • Standard Life 12
  • Prudential US 12
  • Prédica 13
  • The Hartford 13
• APPENDIX 14
  • Methodology 14
  • Further reading 15
  • Ask the analyst 15
  • Datamonitor consulting 15
  • Disclaimer 15
• The Roundup
  • Mergers and acquisitions
    • M&A activity is focused on acquiring new distribution channels
  • Partnerships
    • Building partnerships is also a good way of developing new distribution channels
    • Partnership allow for low-risk entry to unknown markets
  • Emerging market entry
    • Emerging market entry has been focused around India and Central and Eastern Europe
  • Organic growth
• The Developments
  • AIG
    • AIG subsidiary American General Life Insurance strengthens distribution network through acquisition of Matrix Direct - Feb 07
  • Allianz
    • Allianz and Bajaj Auto create financial product distribution company for India - March 2007
    • Allianz increases its stake in Russian insurance company Rosno - Feb 2007
    • Allianz integrates its Italian companies Ras, Lloyd Adriatico, and Allianz Subalpina - March 2007
    • Delta Lloyd acquires Erasmus - March 2007
    • Aviva, Aksigorta, and Akbank sign memorandum of understanding on Turkish life and pensions operation - March 2007
    • Aviva makes first moves in entering Romanian voluntary private pensions market - March 2007
    • Aviva extends bancassurance in India and launches it in Sri Lanka - Feb 2007
  • AXA
    • AXA partners with BMPS to operate in Italian insurance and pensions market - March 2007
    • Barclays and ABN AMRO discussing merger - March 2007
    • BNP Paribas division Cardif partners with Vietcombank and Seabank in Vietnam - Jan 2007
    • BNP Paribas enters new CEE markets - Dec 2006
    • Bancassurance MOU signed by BNP Paribas and Cooperative Bank of Taiwan - Dec 2006
  • CNP Assurances
    • CNP Assurances gains majority share of Skandia Vida - Dec 2006
    • Fortis launches a new life insurance company in Russia
    • Friends Provident enters German pensions market with fpb AG - March 2007
    • Partnership between HSBC and Standard Life to offer SIPP to SMEs - Jan 2007
    • HSBC signs MOU with Canara Bank and Oriental Bank of Commerce to form Indian life insurance company - March 2007
    • Erisa to be wholly owned by HSBC - March 2007
  • ING
  • ING Australia and ANZ bank join forces to offer instant life insurance - March 2007
    • ING' s Belgium operations to be restructured - Jan 2007
  • KBC
    • KBC achieves early entry into post-accession Bulgarian market through acquisition of 70% of DZI - Jan 2007
    • Legal & General partners with Nationwide to distribute life and pensions products - Feb 2007
  • Liverpool Victoria
    • Strategic partnership between Liverpool Victoria and Lighthouse Group - March 2007
  • Manulife
    • Manulife building Japanese bancassurance network with Tottori, Chiba, Ogaki Kyoritsu, Shizuoka, and Mitsubishi UFG banks - March 2007
    • Manulife-Sinochem grows in China - Jan 2007
    • Bancassurance partners China Bank and Manulife to operate in Philippines - Jan 2007
    • Manulife subsidiary John Hancock in partnership with Morgan Stanley - Dec 2006
    • Legal & General partners with Nationwide to distribute life and pensions products - Feb 2007
  • Prudential
    • Prudential acquires annuities portfolio from Equitable Life - March 2007
    • Prudential to sell Egg Banking to Citigroup, but widens its bancassurance channel - Jan 2007
    • Organic growth for Prudential in China- Jan 2007
  • Sampo Life
    • Sampo Life consolidates its Baltic operations - Jan 2007
  • Skandia
    • Skandia sells Spanish subsidiary Skandia Vida to CNP Assurances - Dec 2006
  • Standard Life
    • Strengthened partnership for Standard Life and Fidelity FundsNetwork - Feb 2007
    • SIPPs distribution to build Standard Life - HSBC relationship - Jan 2007
  • Prudential US
    • DLF and Prudential Financial Indian life joint venture announced - March 2007
  • Prédica
    • Emporiki Bank and Crédit Agricole sell Phoenix Metrolife to Groupama - March 2007
  • The Hartford
    • The Hartford broker-dealer subsidiary Woodbury Financial acquires marketing firm Diversified Financial Concepts - Dec 2006
• APPENDIX
  • Methodology
  • Further reading
  • Ask the analyst
  • Datamonitor consulting
  • Disclaimer