31 October 2010
The recent financial crisis has brought to light the serious challenges that the European financial services sector is facing. This report reviews the economic trends in the banking and insurance industries and the debate on the regulation of financial markets. It looks in detail at the business models that are applied as a response to the crisis. Finally, it develops scenarios for the potential adaptation process of the European financial services sector. The research was conducted by means of case studies of a range of companies in the sector, an online survey and interviews with experts from companies, social partners, research institutions and public authorities.
11 October 2010
Building societies are mutual organisations in the UK, which are owned by their members. The building society sector has changed considerably since the first building societies were founded in the 18th century as ‘terminating’ societies – organisations designed to be wound up once all their members had been housed. In the 19th century, permanent building societies began to spring up and by 1910 over 1,700 societies existed with more than 600,000 members and assets in excess of €89 million. The number of building societies has in recent years decreased significantly due to demutualisation and mergers. There are 51 building societies in the UK.
11 October 2010
Generali is one of the most significant players in the global insurance market, with 60 million clients worldwide. Generali is the third-largest insurance group in Europe after Axa and Allianz. Present in 65 countries, the group is the market leader in Italy and it has significant positions in Germany, Austria, France, Spain, Switzerland and Israel. Recently, the group started to develop activities in all of the New Member States. The headquarters and back-office departments for eastern Europe are located in Vienna, and Generali is now well developed in Hungary, Romania and the Czech Republic.
11 October 2010
This project was conducted by means of five case studies, and an online survey and interviews with experts from companies, research institutions and public authorities. The survey and interviews were vital in order to hear different opinions about changes in the financial sector resulting from the financial crisis, and the emergence of a new regulatory regime.
21 September 2009
In 2007, 5.6 million persons were employed in EU27 financial services. 65% of these worked in banks, 20% in the insurance industry and 15% for intermediaries. The sector represented 2.7% of total employment in Europe. Between 2000 and 2006, data from the Labour Force Survey shows a shift of occupational structure from medium-skilled persons to highly-skilled persons. The need for a highly educated and trained workforce appears to be evident in all parts of the financial services sector and all European countries.
29 July 2009
In 2007, 5.6 million persons were employed in EU27 financial services. 65% of these worked in banks, 20% in the insurance industry and 15% for intermediaries. The sector represented 2.7% of total employment in Europe. A report is published as part of a series of forward-looking sector studies on new skills and new jobs.