INTEGRACJA RYNKÓW UBEZPIECZENIOWYCH – PRZYKŁAD KRAJÓW EUROPY ŚRODKOWO-WSCHODNIEJ NALEŻĄCYCH DO UNII EUROPEJSKIEJ
INTEGRATION OF INSURANCE MARKETS – CASE OF THE COUNTRIES OF CENTRAL AND EASTERN EUROPE THAT ARE MEMBERS OF THE EUROPEAN UNION

Summary/Abstract: EU directives have freed insurance companies from regulating prices and conditions. However, institutional and cultural fe-atures still differ significantly between countries. Issues related to the integration of insurance markets should be conside-red an important area of research for two reasons. Firstly, because of the importance that the integration of internationalfinancial markets has for their development and because of the impact of integration on economic growth. Secondly, the in-surance market is fairly specific on account of the complexity of insurance contracts. This makes insurance integration diffi-cult to assess, and for this reason, it is a poorly recognized research topic. This article examines the extent to which the in-surance markets of CEE are integrated. The measures of insurance market integration have been determined with regard togross written premium and investment. The empirical analysis is based on statistical and econometric methods and justi-fies the conclusion that the extent to which the insurance markets of the countries under investigation are integrated indica-tes a tendency for this process to continue. However, they are less integrated the rest of the EU countries and the eurozone.

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