Life and Pensions Quarterly Competitor Tracker Q3 2009

Overview 1
Catalyst 1
Summary 1
Methodology 1
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 Q3 2009 7
The life and pensions market has observed several competitor developments and industry trends 7
Innovating protection products 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 third quarter of 2009 records a slower pace of competitor developments 9
Competitors reduced their developments in Q3 2009 compared to previous quarters 9
Product innovation developments continue to outweigh activities in M&A, partnerships and organic growth 10
There were no customer targeting developments from competitors in the third quarter of 2009 11
Competitors placed a strong focus on innovating protection products in Q3 2009 12
Organic growth activities continue their decline into the third quarter of 2009 13
Competitors are focusing efforts back in domestic markets over emerging markets 14
Product innovation and customer targeting 15
Aviva 15
Australia: Aviva's upgrades Protectionfirst to increase flexibility for advisors and clients 15
UK: Aviva offers free life cover to Britain's parents 15
UK: Aviva launches annuity advertising campaign for customers 16
UK: Aviva provides market group income protection terms 16
UK: Aviva introduces online pension tracker for an audience of one million 16
Friends Provident 17
UK: Friends Provident improves service and enhances income protection products 17
UK: Friends Provident enhances its group income protection product 17
HSBC 18
UK: HSBC introduces HSBC IFA insurance 18
Irish Life 18
UK: Irish Life enhances its protection products by offering new specified illness cover 18
Legal & General 19
UK: Legal & General enhances its annuity solutions 19
UK: Legal & General launches three new life insurance plans 19
Liverpool Victoria 20
UK: LV= teams up with ASDA to offer new life cover 20
Manulife Financial 20
Canada: Manulife offers new funds for investment, retirement and estate-planning needs - September 2009 20
China: Manulife-Sinochem introduces juvenile par annuity product, Fortune Baby 21
China: Manulife-Sinochem launches bancassurance product Jin Yu Nian Nian 21
US: John Hancock launches a new campaign on long-term care 22
US: John Hancock offers JH Essential Income fixed immediate annuity product 22
US: John Hancock launches Protection UL-G and Protection SUL-G, providing lifetime death benefit guarantees 23
US: John Hancock expands its fixed annuity portfolio with the JH Signature product 23
Vietnam: Manulife launches a medical care solution, Phuc An Binh, with guaranteed benefits 24
Nationwide 24
UK: Nationwide introduces a new investment bond with regular withdrawal facility 24
Prudential US 25
US: Prudential Annuities launches consumer-focused website 25
US: Prudential offers Highest Daily annuity optional benefits 26
US: Prudential's MyLegacySM life insurance provides customers with immediate coverage 26
US: Prudential and MullinTBG upgrade total retirement solutions services 26
Skandia 27
UK: Skandia releases a new Platformwatch tool 27
Mergers, acquisitions and organic growth 28
AIG 28
US: AIG sells its life insurance premium finance portfolio 28
Aviva 28
Singapore: Aviva extends its partnership with DBS until 2015 28
CNP Assurances 28
Spain: CNP and Barclays establish joint venture in Spain 28
Co-operative 29
UK: Britannia merges with The Co-operative Financial Services 29
Friends Provident 29
Singapore: Friends Provident signs agreement with ANZ to distribute insurance bond in Singapore 29
ING 30
Australia: ING to sell its Australian and New Zealand insurance business to ANZ 30
Chile: ING sells annuity and mortgage businesses to Corp Group Vida Chile 30
Netherlands: ING to combine its insurance operations under one brand 31
Nippon Life 31
China: Nissay Life Insurance to change joint venture partner and company name in China 31
Standard Life 32
China: Bank of China invests in Standard Life's Heng An Standard Life 32
The Hartford 32
US: The Hartford introduces new sales and distribution organization for its investment and retirement products 32
US: The Hartford and Lord Abbett combines to offer contribution retirement plans 32
APPENDIX 34
Methodology 35
Ask the analyst 35
Datamonitor consulting 35
Disclaimer 35
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: The number of competitor developments in Q3 2009 were nearly 30% down from the previous quarter 9
Figure 2: Product innovation is still at the forefront of competitors' minds over acquisition activity 10
Figure 3: There were no customer targeting developments from competitors in Q3 2009 11
Figure 4: Product innovation efforts from competitors have focused on protection insurance 12
Figure 5: The visibility of organic growth activities decreased further in Q3 2009 13
Figure 6: Competitor developments are occurring back in domestic markets 14