East European countries, including Romania, are difficult for foreign investors because of their fragile economies, stated Antoine Bernheim in his last speech as chairman of Italy's Generali group, one of the world's biggest insurers. Last Saturday, during the general meeting of Generali's shareholders in Trieste, French-born Bernheim, 85, retired from the position of chairman, after four decades at the helm of the group. "It's difficult to find growth opportunities in Romania, Bulgaria and Hungary, but I am confident Generali will succeed. It's hard because the economies of former communist countries are fragile," said Bernheim. Generali is one of the biggest insurers in Romania, with three companies in its portfolio: Generali Asigurari, Ardaf and RAI Asigurari. The group also owns the third biggest private pension manager domestically. The Frenchman said the group relies on external growth, inclusively through acquisitions. The biggest growth resources are to be found in Asia and Brazil, as Bernheim said, but the group eyes acquisitions in Eastern Europe as well, including Romania.
East European countries, including Romania, are difficult for foreign investors because of their fragile economies, stated Antoine Bernheim in his last speech as chairman of Italy's Generali group, one of the world's biggest insurers. Last Saturday, during the general meeting of Generali's shareholders in Trieste, French-born Bernheim, 85, retired from the position of chairman, after four decades at the helm of the group. "It's difficult to find growth opportunities in Romania, Bulgaria and Hungary, but I am confident Generali will succeed. It's hard because the economies of former communist countries are fragile," said Bernheim. Generali is one of the biggest insurers in Romania, with three companies in its portfolio: Generali Asigurari, Ardaf and RAI Asigurari. The group also