The Austrian Insurance Industry in CESEE: Risks and Opportunities from a Financial Stability Point of View

Teresa Bianchi (), Gernot Ebner (), Raimund Korherr () and Eva Ubl ()
Additional contact information
Teresa Bianchi: Austrian Financial Market Authority
Gernot Ebner: Oesterreichische Nationalbank, Financial Markets Analysis and Surveillance Division
Raimund Korherr: Austrian Financial Market Authority
Eva Ubl: Oesterreichische Nationalbank, Financial Markets Analysis and Surveillance Division

Financial Stability Report, 2011, issue 22, 88-106

Abstract: This study gives an overview of the insurance market in Central, Eastern and Southeastern Europe (CESEE) in general and of the Austrian insurance groups’ activities in the region in particular. Moreover, it deals with risk management issues and the challenges arising from the new EU regulatory framework, Solvency II. We identify the main risks and opportunites for insurance groups in this respect: While potential market growth rates and still higher margins represent the main opportunities, there is also evidence of some reputational as well as financial risks. Further, cross-border business activities also pose some challenges for the risk management of internationally active insurance groups. From a macroprudential perspective, the Austrian insurance groups’ exposure to CESEE augments the exposure of Austria financial institutions to this region.

Keywords: Central; Eastern and Southeastern Europe; Insurance; Austria (search for similar items in EconPapers)
JEL-codes: F15 G22 (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (3)

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