Central and Eastern European economies have grown strongly as greater economic diversity made the region more resilient to the ongoing slowdown in western European economies. With rising purchasing power, we see significant potential for insurance penetration in the region to increase over the coming years.
CEE economies have remained resilient to slowdown in Europe's industrial sector, due to a more diversified economic structure.
Domestic rather than export demand has become the main growth driver, due to very strong wage growth and public investment.
A strong rise in purchasing power will help lift insurance penetration in the CEE region.
We forecast 7% annual growth in life premiums over the next five years, four times higher than over the past decade and five times the growth pace in advanced markets.
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