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The Evolution of the Insurance Sector in Central and Eastern Europe and the Former Soviet Union

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  • Robert B.K. Pye

Abstract

This paper provides a detailed profile of the development of the insurance industry between 1989-98 in the countries of Central and Eastern Europe (CEE) and the New Independent States (NIS) of the former Soviet Union. In doing so, the author utilizes various sources of data to describe the nature of the insurance market in the region. On an individual host country basis, attention is given to data on premium income with respect to both life and non-life coverage, an analysis of average annual growth rates, as well as insurance density and penetration rates by type of coverage. The paper also addresses a number of issues pertaining to the competitive environment, including the legal conditions for insurance operators, a profile of the key players, and the role of foreign insurers operating within the region. The paper concludes by identifying the three main trends of the insurance industry in the region, the associated policy implications of each, as well as the need for future research.

Suggested Citation

  • Robert B.K. Pye, 2000. "The Evolution of the Insurance Sector in Central and Eastern Europe and the Former Soviet Union," William Davidson Institute Working Papers Series 336, William Davidson Institute at the University of Michigan.
    • Handle: RePEc:wdi:papers:2000-336
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    File URL: http://deepblue.lib.umich.edu/bitstream/2027.42/39720/3/wp336.pdf
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    References listed on IDEAS

    as
    1. Wyplosz, Charles, 2000. "Ten years of transformation - macroeconomic lessons," Policy Research Working Paper Series 2288, The World Bank.
    2. Pye, Robert, 1998. "Foreign direct investment in Central Europe:: Experiences of major Western investors," European Management Journal, Elsevier, vol. 16(4), pages 378-389, August.
    3. Frances A Katrishen & Nicos A Scordis, 1998. "Economies of Scale in Services: A study of Multinational Insurers," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 29(2), pages 305-323, June.
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    Cited by:

    1. Bonin, John & Wachtel, Paul, 2002. "Financial sector development in transition economies: Lessons from the first decade," BOFIT Discussion Papers 9/2002, Bank of Finland Institute for Emerging Economies (BOFIT).
    2. Bonin, John & Wachtel, Paul, 2002. "Financial sector development in transition economies : Lessons from the first decade," BOFIT Discussion Papers 9/2002, Bank of Finland, Institute for Economies in Transition.
    3. repec:zbw:bofitp:2002_009 is not listed on IDEAS

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