Session 3: Developments of Insurance Markets in Emerging European Economies

Wednesday, July 20th 2022, 14:30–16:30 (CEST), Room U1 191

Zoom-Link: | Meeting ID: 689 9077 2115

Session Chair: Niels-Viggo Haueter (Swiss Re’s Corporate History), Monika Wieczorek-Kosmala (University of Economics in Katowice) and Marijana Ćurak (University of Split, Croatia)


The insurance markets of the Emerging European Economies distinguish with several unique features, that are driven by their historical heritage and the related experience of two waves of transition: the transition from a command to market economy in early 1990s and transition to European standards on the routes to the accession to European Union. The former performance of these countries under the communist regime remain influential on their current specifics if we consider the insurance market product structure or high level of insurance market concentration. If we compare the basic parameters of the insurance market performance (such as the insurance density or penetration ratios) between the Western and Eastern European economies, we observe continuity of high discrepancies. Undoubtedly, insurance markets in Emerging European Economies are still in their infancy, given the misunderstanding of the importance of insurance and the underdevelopments in the attitudes to insurance purchases. However, the understanding of these peculiarities needs the awareness of their historical heritage that has shaped the insurance consumers behavior for ages. For these reasons, we call for papers that could address the following issues in the context of Emerging European Economies:

  • The specifics of insurance demand in its historically-driven orientation
  • Historical development of insurance markets from macro-perspectives
  • The various facets of transition of insurance markets
  • The challenges of harmonization of regulations and alignment to solvency requirements from a historical perspective
  • Insurance markets in their routes of recovery from 2008+ global financial crisis

1. Has the Efficiency of Insurance Companies in Poland Changed over the Last Decades?

  • Monika Wieczorek-Kosmala, Faculty of Finance and Insurance, Uniwersytet Ekonomiczny w Katowicach
  • Marijana Ćurak, Faculty of Economics, University of Split
  • Maja Pervan, Faculty of Economics, University of Split

2. Improving the System of Monitoring the Solvency of Insurance Organizations in the Republic of Belarus at the Present Stage

  • Tatsiana Verezubova, Department of Finance, Belarusian State Economic University (online)

3. Fire Insurance for Church Buildings in Ukraine (19th-20th centuries)

  • Viktor Trynchuk, Department of Financial Markets, University of the State Fiscal Service of Ukraine (online)

4. Trieste’s Multinational Insurers and the Reinvention of Italy’s Life Insurance Sector, 1918 – 1925

  • Derek Hattemer, Department of History, Scuola Normale Superiore di Pisa