Generali head: Doing business in Eastern Europe is difficult

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.