Review article
https://doi.org/10.46672/aet.8.2.5
Overview of the International Insurers in the CEE-Region
Georg Engl
orcid.org/0000-0002-4383-0050
; Libertas International University, Zagreb, Croatia / University of Zadar, Croatia
Abstract
The paper aims to provide an overview of the insurance markets of selected CEE-countries with a focus on the international insurance groups present in them. The strategic involvement of the international insurers in the evolvement of the CEE insurance markets is qualitatively reviewed. Specific market impact indicators are extracted from the original sources for the selected countries (Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, Slovakia, Slovenia) and relevant parameters calculated. According to the results of the research, international insurance groups have been deeply involved in the opening up and development of the insurance markets in the CEE-region and have supported the transition to advanced market economies. Overall, the region is dominated by international insurers, but several market indicators vary across countries. Since the markets in the region are relatively small, the international insurers aim for relevant size and economies-of-scale, and if not achievable, also make their exits again. In conclusion, most large international groups are or have been present in the region. They have in the past participated in important steps of market development, such as privatizations, market liberalisation steps and various M&A transactions.
Keywords
insurance; CEE-region; international insurers; transition
Hrčak ID:
288234
URI
Publication date:
22.12.2022.
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