Merrill Lynch says the insurer is targeting the largely untapped European markets of Spain, Italy, Poland and Romania
CGNU's profitability looks set to continue in the medium term thanks to its increasing exposure to European markets, according to Roman Cizdyn, life and insurance analyst at Merrill Lynch. The company is rapidly growing its life business in European markets, which in comparison to the UK are viewed as being relatively underinsured. Spain, Italy, Poland and Romania are also starting to see the emergence of a savings culture, which CGNU is well positioned to benefit from, Cizdyn believes. 'More and more people in these countries will have to save for the future as governments will no longer...
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