A changing landscape

29 March 2012 —
It is easy to see, following the news stream, that the CEE insurance market will most probably end 2012 with a sensible different landscape.

With the Croatia's accession to the European Union, a new player is entering the EU's insurance market, offering new business opportunities to European insurers. PZU's expanding plans will also change, in the first stage, the Baltic insurance landscape, adding a strong competitor to the local markets.

The large European groups, already present on the CEE markets, are currently operating important mergers of their existing subsidiaries which will change, in some cases, the national rankings. On the other hand, some of the big European players are targeting new acquisitions both in the CEE region and Turkey.

The CIS insurance markets become also more and more "visible", as large and important international events are organized in countries as Azerbaijan, Uzbekistan or Kazakhstan, in a general effort to open these markets to the advanced international insurance community. On the other hand, local players and associations are attending almost all the relevant events organized in Europe or else where, striving to capture the international trends and attention.

Even if these changes will not be completed in 2012, it is obvious we shall soon see a new market architecture. Until then, frequent updates are needed to keep the pace with the accelerating change.

See you online!

Daniela GHETU

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