发布时间：2008.3

摘要

The Specialty Insurance Sectors Report provides insightful analysis and market overview of Terrorism, Mortgage, Credit, Alternative Risk Transfer, Pet, Municipal Bond, Fidelity, and Political Risk Insurance industries. Laden with quantitative analysis, the report also provides the reader with a rudimentary statistical preface to these markets. The closely summarized market report is designed to offer a macro level picture of the trends, recent mergers & acquisitions, and strategic corporate developments witnessed by these insurance sectors. Also provided is a compilation of recent past/ historical perspective of the sectors, and strategic corporate developments and product launches within it. The report examines leading companies’ footing in some of these markets at global and/ or regional level, along with their annual written premiums. The report also discusses several key and niche players within these markets.

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目录及图表

TERRORISM INSURANCE

1. Insurance Industry - Terrorist Attack and the Aftermath

Insuring Against Terrorism: Policy Challenge

Government Cover for Insurance Industry Against Terrorist Risks in Various Countries

Canada

France

Germany

The UK

Spain

South Africa

Israel

2. United States

Terrorism Insurance Market - A Brief

Terrorism Sweeps Insurance Sector off its SPE-3 Revenues

Terrorism Risk Insurance Act Amended

US Government Opposes Terrorism Insurance Extension

Federal Backstop - Should it be Temporary or Permanent?

Terrorism & Risk Coverage

Insurance Industry Seeks Federal Support

Federal Backstop - Considerations and Oppositions

Bush Administration’s Plan

Senate Banking Committee’s Plan

US Insurers Come Up with an Insurance Pool Proposal

NAII Recommendations for Terrorism Reinsurance Proposal

Proposals for Terrorism Insurance Could Hurt Consumers

Terrorism Risk Insurance Act legislation

Key Features of the Legislation

2001: A Year of Debacle

September 11: The Aftershocks

9/11 - The Costliest Insured Disaster

Estimated Insurance Payments Related to Sept. 11 2001, by Sector (In US$)

Table 1: September 11: Estimates of Losses for US Insurance Industry (In US$ Billion) (includes corresponding Graph/Chart)

The Ripples from WTC Disaster

Skyrocketing Insurance Rates

All Eyes Turn Towards Catastrophe Modeling

The Recessionary Climate

Sustained Underpricing

Medical Inflation

3. Chile

A Key Note on Terrorism Insurance

4. Strategic Developments in the Past

XL Capital and 5 European Insurers form JV for Terrorism Coverage

Russian Insurance Majors Form Anti-Terror Insurance Pool

Special Risk Insurance and Reinsurance Luxembourg Commences Operations

US Airlines Mull Formation of Risk-Retention Group

5. Product Launch

Lexington Enhances BioChem ShieldSM Capacity

6. Focus on Select Players

Hiscox Ltd, UK

Lloyd's of London, UK

MORTGAGE INSURANCE

1. An Overview

The Need

Policy Renewal/ Cancellation

2. Select Snapshots of the Mortgage Insurance Industry Worldwide

2a. United States

Mortgage Insurance Market Representation

Table 2: US Recent Past, Current & Future Analysis for Mortgage Insurance Market with Net Premiums Written in US$ Million for the Years 2006 through 2010 (includes corresponding Graph/Chart)

Private Mortgage Insurance - An Upcoming Segment

PMIs' Competition with Service

Elements of Underwriting Risk when Reviewing a Loan

The Rise of Mortgage Insurance

Factors Strengthening the PMI Business

Self-Insurers in the PMI Market

Factors Affecting Default Losses

2b. Romania

Awareness Among Public Revitalizes the Market

Lack of Standardization in Mortgage Sector - Implications for Mortgage Insurance

Domenia Credit - A Key Player

2c. Denmark

Mortgage Insurance - Promising Avenue for Growth

3. Recent Industry Activity

Assurant Solutions Takes Over Centrepoint Insurance

Assurant’s UK Affiliate Takes Over Swansure Group

AIG Forms Alliance with Seoul Guarantee

HIG Holdings Plans to Acquire American Founders Financial Corp

4. Strategic Development in the Past

GE Splits GE Capital into Separate Units

5. Product Launches

R&SA Offers Insurance to Renewable Energy Sector

Lloyds Offers Free Cover

ASPCA Releases New Pet Health Insurance Product

BUPA to Launch Space Insurance

Citibank Introduces Loan Protection Policy in UAE

6. Product Launches in the Past

Progressive Launches Loan/Lease Pay Off Insurance

Liverpool Victoria’s Comprehensive Mortgage Payment Protection Plan

Tata AIG, Tata Home Finance Offer Mortgage Reducing Term Program

7. Focus on Select Players

Abbey National PLC

Allstate Financial Group, US

Ecclesiastical Insurance Group, UK

Lloyds TSB Group plc, UK

Metropolitan Life Insurance Co., US

Mortgage Guaranty Insurance Corp., US - Leading Private Mortgage Insurer in the US

Radian Group, US

Republic Mortgage Insurance Co., US

The PMI Group, Inc., US

United Guaranty, US

CREDIT INSURANCE

1. Credit Insurance - The Concept

The Insurance for Creditor

A Special Case of Co-Insurance

2. Importance of Credit Insurance

Credit Insurance Sector Poised for Substantial Growth

3. Credit Insurance Market - A Historic Perspective

Market Leaders

Table 3: World Credit Insurance Industry (2002) - Percentage Market Share of Leading Players (includes corresponding Graph/Chart)

Table 4: World Credit Insurance Industry (2000) - Percentage Market Share of Leading Players (includes corresponding Graph/Chart)

4. Review of Major Markets

4a. United States

Credit Insurance in the US - Untapped Potential

4b. Europe

Credit Insurance Garners High Popularity

Formation of EU Boosts European Credit Insurance Market

Credit Insurers Make Smart Move

4b(i). United Kingdom

UK Creditor Insurance Market - An Overview

Table 5: UK Recent Past, Current & Future Analysis for Credit Insurance Market in GBP Billion for the Years 2006 through 2010 (includes corresponding Graph/Chart)

Popularity of PPI Declines in Recent Years

PPI Affected by Negative Adulation

Regulatory Assessment Highlights Several Failures in Creditor Insurance Industry

4c. Other Emerging Markets

4c(i). Chile - Favorable Treatment

Export and Domestic Trade Credit

A Past Perspective

Table 6: Credit Insurers in Chile for 2001: Percentage Market Share by Company (includes corresponding Graph/Chart)

4c(ii).China

Export Credit Insurance Market Picking Up

Table 7: Chinese Credit Insurance Market (2003): Percentage Value Breakdown of Premium by Company - Ping An, China United, Yong An, Tian An, Sinosafe and Others (includes corresponding Graph/Chart)

5. Recent Industry Activity

Euler Hermes Acquires Stake in ICIC

Euler Hermes Acquires United Mercantile

Zurich Enters into Collaboration

Wintrust Financial to buyout Broadway Premium Funding Corp

R&SA Bags New Contract

Towergate Snaps Up Paymentshield

Bank of America to Divest Premium Credit

Euler Hermes to Acquire Lumley’s Credit Insurance Division

Direct Pet Health to Purchase First Pet Life

Pets Best Acquires General Fire’s Pets Division

Lightyear Capital Purchases Stake in Sirius America

Intersections Acquires Chartered Marketing

LandAmerica Acquires Capital Title Group

American International to Acquire Ocean Finance & Mortgages

Euler Hermes to Enter Irish Market

Genworth Buys Out Vero Lenders

QBE to Acquire Praetorian

Zurich Insurance Ireland Expands in Europe

Aon Plans to Divest Credit Insurance Business

Euler Hermes to Launch Export Credit Insurance in Japan

Credit Insurance Consultants Acquires Credit Insurance Brokers

IBM Plans to Acquire Liberty Insurance Services Corp

HCC Insurance to Acquire Stake in Demontfort

Coface Establishes New Insurance Company

6. Strategic Developments in Past

Scor Divests Stake in Coface

Coface Gains Gerling’s Credit Insurance Operations in Denmark and the Netherlands

Gerling and NCM Merge

7. Focus on Select Credit Insurers Worldwide

Coface Group, France

Euler & Hermes SA, France

Atradius, Germany

Sompo Japan Insurance Inc., Japan

ALTERNATIVE RISK TRANSFER

1. An Overview

Risk Retention Groups (RRGs)

Purchasing Groups (PGs)

Self-Insurance

Captive Insurance

Market Overview

Captive Market Receives a Major Boost in the Year 2000

Table 8: Leading Domiciles Worldwide: 2000 (includes corresponding Graph/Chart)

Table 9: Leading Captive Insurance Managers, Worldwide: 2000 (includes corresponding Graph/Chart)

Why Captives?

Traditional Carriers Also Benefit

Outlook

Surplus Lines

Firming Market Pushes P/C Lines to Surplus Carriers

The Definition

Deteriorating P/C Lines - The Cause

Easing Rates and Terms

Key Factors for Growth

Surplus Lines Market - Current and Potential Trends

Prospective Trends of US Specialty Lines Insurance Market

2. Recent Industry Activity

Validus Acquires Talbot

Hiscox Acquires Kidnap and Ransom Business from Aon

Strategic Developments in the Past

Capital Establishes New Subsidiary

Argonaut Establishes Captive Business Unit

XL Capital Establishes New Subsidiary

Alea Purchases Seven Hills Insurance

Front Royal Acquired by Argonaut Group

MetLife Acquires Seguros de Vida and Soince Reinsurance

Reinsurance Group of America Creates New Unit

Transatlantic Re Acquires a 40% Stake in Kuwait Re

Warren-Hoffman Acquires Health Plan Administrators

3. Alexander Forbes Ltd., South Africa - A Major Broker in the World

PET INSURANCE

1. US’ Pet Insurance Market

An Overview of the US Pet Insurance Market

Table 10: US Recent Past, Current & Future Analysis for Pet Insurance Market: Premiums in US$ Million for the Years 2006 through 2010 (includes corresponding Graph/Chart)

Expenditure on Pets Surges Ahead Among Americans

US Pet Insurance Market Set to Strengthen Further

Pet Insurance in the US - A Past Review

Buoyant Growth Foreseen in Pet Insurance Market

Leading Companies

Petco

Veterinary Pet Insurance

PetPartners

Pets Best

American Television Acquires First Pet Life Inc.

2. Pet Insurance Market in the UK

‘Dogging’ the Pet Insurance Segment

Low Costs Spur Sales

Table 11: UK Recent Past, Current & Future Analysis for Pet Insurance Market in US$ Million at Retail Price for the Years 2006 through 2010 (includes corresponding Graph/Chart)

Competitive Scenario

Table 12: Leading Players in UK Pet Insurance Market (2005): Percentage Market Share by Company - Allianz Cornhill, AXA Insurance, Domestic & General, Royal & SunAlliance, Thornside, UKI Partnerships, and Others (includes corresponding Graph/Chart)

Changing Market Conditions

Marketing and Distribution

Outlook

3. Japan’s Pet Insurance Market

4. Product Launches

Vsurance to Launch Insurance Product for New Pet Owners

Greenbee.com Offers New Pet Insurance Cover

Vsurance Introduces Pet Boarding Kennel Insurance

Buddies Launches Discount Pet-Insurance Scheme

MUNICIPAL BOND INSURANCE

1. Market Overview

Regional Snapshots of Municipal Bond Insurance - A Historic Review

United States

Tax Exempt Debt Insurance Rides High

Market Leaders

Chile

Table 13: Leading Bond Insurers in Chile for 2001: Percentage Market Share by Company (includes corresponding Graph/Chart)

Construction and Other Bonds

2. Focus on Select Players

Ambac Assurance Corp., US

Financial Guaranty Insurance, US

Financial Security Assurance Holdings Ltd., US

FIDELITY INSURANCE INDUSTRY

1. Market Primer

Cyber Crime and Fidelity Insurance

Rise in Internet Connections Contribute to the Problem

Low Premiums a Cause for Concern

Fidelity and Globalization

2. Fidelity Insurance Market in the US

Market Leaders

Table 14: US Fidelity Writers - Market Shares of Leading Companies for 2004 (includes corresponding Graph/Chart)

3. Fidelity Insurance Market in Canada

POLITICAL RISK INSURANCE INDUSTRY

1. Political Risk -An Overview

Companies Turn to Political Risk Insurance

Major Political Risks

Aversion for Overseas Investments Mars Political Insurance Prospects - A Retrospect

Restoring Confidence in the Global Economy

Pricing

2. Product Launches in the Past

AIG Global Trade and Political Risk Insurance’s Policy

MAP Underwriting Offers Coverage for Political Violence

Zurich NA’s Political Risk Enhancement Policy on Brazilian Bond