|
Interamerican is strongly committed to expanding its insurance, health care, pension fund, asset management and banking operations in south-eastern Europe. While existing companies are established in Romania and Bulgaria, the Albanian, FYR Macedonian and Yugoslav markets are also being considered. Eureko's acquisition of Interamerican has reinforced this commitment.
All countries targeted by Interamerican have undeveloped financial systems. In particular, insurance, pensions and asset management have room for expansion and are in need of support. Strong operators such as Interamerican which are willing to establish a presence in these countries, where foreign investment stands at comparatively low levels, will develop the markets, increase financial intermediation and strengthen the population’s confidence in alternative means of savings, such as life insurance, pensions and mutual funds.
Furthermore, development of well-funded private health care in the region will provide a much-needed alternative to state services and will also offer a viable alternative for insurers which intend to offer health care insurance.
The EBRD believes that Interamerican's investments will not only bring fresh capital to these economies, but will also provide know-how, raise professional standards and enhance the reputation of the targeted sectors. The proposed Framework Agreement will allow the EBRD to support these investments and to have an active role in the corporate governance of such projects.
|
