Central Europe - insurers look to overcome region's ALM challenges
International insurance groups have moved to central and eastern Europe in their droves since the region emerged from the shadows of communism. The potential for growth is obvious – but are the risks understood? Aaron Woolner reports
Rapid economic development and a very low level of insurance penetration due to the region casting off the shackles of communism only in the last 20 or so years leaves central and eastern Europe (CEE) as a potential growth market for the insurance sector.
And the major insurers certainly think so. Spearheaded by Trieste-based Generali, Munich-based Allianz and the lesser-known Vienna Insurance Group, multinational insurers have colonised the region, particularly on the life side, during the past
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