CEE Insurance M&A Study 2022 | Deloitte Croatia


CEE Insurance M&A Study 2022 | Deloitte Hungary

CEE Insurance M&A Study 2022

Uncertainties to pressure future growth and profitability of regional insurance players

We are introducing our 5th CEE Insurance M&A Study analyzing and summarizing mergers and acquisitions in the insurance sector and the current market trends within the Central and Eastern European region.


CEE Insurance M&A Study 2022

We are happy to hereby release the 5th edition of our CEE insurance M&A study

Surprisingly, the waves of COVID-19 did not set back M&A activity in the region in 2021. Large international groups such as Aegon, MetLife or MunichRe decided to leave certain countries in CEE or exit from the whole region, in parallel creating the opportunity for dominant regional consolidators to strengthen their market positions via inorganic growth. However, in contrary to the relative robust insurance related M&A activity in 2021, the dealflow in CEE region dropped by 50% in 2022, mostly as a reaction to the growing uncertainty in the global economic and political landscape caused by the Russian-Ukrainian war.

For more information on the CEE Insurance M&A transactions and the lates market trends, download our annual study.

Insurance market trends

The pandemic-driven recession on the regional insurance market proved to be temporary as in 2021 both life & non life segments managed to grow and reach pre-pandemic levels.

M&A activity in the insurance sector

The dynamics on the regional insurance M&A market remained unchanged: the exit of large international groups enabled dominant regional players to strengthen their market positions.

Regulatory matters with an impact on the insurance market

2023 brings a fundamental change in the reporting of the insurance companies with IFRS17, the new International Accounting Standard relevant for insurance companies, coming into effect.

Challenging economic environment

The persistent high inflation is putting pressure on the sector’s profitability through the rising claim expenses and increased operational costs.

Interactive dashboard

Follow M&A activity in the insurance sector with our interactive dashboard.


*Global, EMEA and CEE regions by total number of transaction in 2022 | Mergermarket, 2023


For more information on our Mergers & Acquisitions services, contact us.

Lena Habuš


Financial Advisory