Les stratégies d'internationalisation en assurances

Large insurance companies are facing a multitude of challenges requiring a deep transformation of their organizations, targets and operating models. While major European insurers pioneered the internationalization process through numerous cross-border acquisitions worldwide since the early 1980s, the changing financial and economic environment raises questions about the rationale of their international footprint and ambitions. Internationalization strategies over the past 30 years have been led by the geographic expansion rather than by a convergence of products sold, mechanically reducing potential economies of scale. Financial regulation and market conditions, as well as technological breakthroughs, are now leading insurance companies to refocus their geographical footprint on stable markets offering predictable economic and political conditions. As insurance companies face visible pressure to maintain consistent strategies and sustained profitability, one can foresee that the focus will be put on optimizing their international footprint rather than the continuation of a profuse expansion. Classification JEL: F23, F65, G22, G28, L25, N24.