Advanced Insurance Solutions for C&P Immobilien

Our specialists in the Construction & Real Estate practice group develop and provide insurance solutions

Our specialists in the Construction & Real Estate practice group develop and provide insurance solutions along the industry’s entire value chain.

Giving C&P the Edge with Insurance Solutions

C&P Immobilien AG, founded in 2006, develops, sells and manages investor apartments, and more. The company operates from its head offices in the Styrian capital Graz and employs 168 people at 6 locations (Graz, Vienna, Klagenfurt, Berlin, Munich, and Dubai). Since 2011, C&P is positioned as Austria’s market leader for private property investment.

GrECo Austria has been accompanying C&P on its road to success for almost a decade, having provided tailored risk and insurance solutions. Thomas Schober Plankl, CFO and Management Board Member at C&P Immobilien AG is convinced that “GrECo has put our minds at ease. Their experts know the construction and real estate business inside out and provide us with the right tailored solutions for each individual project.”

GrECo has been supporting a large number of construction and real estate clients for many years. Our special-
ists in the Construction & Real Estate practice group develop and provide solutions along the industry’s entire
value chain, from planning and financing through to project implementation, its operation and warranty period.

Being a forward-looking company, we need a partner with
an open mind for our ideas, a partner who matches these
ideas with advanced solutions and watches our back while
we go about our business.

Andreas Grabner
COO Management Board Member at C&P Immobilien AG

Our finger on the pulse

C&P treats sustainability as a matter close to its heart and as a key strategic aspect. The construction sector
will have to tackle major climate issues, such as the production of greenhouse gases, over the next few years.

To strategically set the course for future construction methods that will substantially lower greenhouse gas emissions, C&P collaborates with the Technical University Graz. C&P pursues a clear climate strategy. It holds a
stake in the mobility start-up ELOOP, it aims to optimise the energy concepts of buildings, and its sole objective
are projects that bear a climate certification.

A lot of the company’s success can be attributed to innovative and forward-looking solutions. New living concepts, focusing on sustainability, ecology, a new sense of communality, more flexibility as well as individuality nowadays receive a lot of the company’s attention. These include serviced apartments and co-living concepts. For C&P though, social issues are just as important, e.g.: an optimal contemporary working environment, striking a balance between work and family life, and promoting professional training and education.

“Being a forward-looking company, we need a partner with an open mind for our ideas, a partner who matches these ideas with advanced solutions and watches our back while we go about our business,” sums up Andreas Grabner, COO Management Board Member at C&P Immobilien AG the collaboration with GrECo.


This article is part of our new Annual report 2021. The annual report gives you a review on GrECo`s facts & figures of the last business year and our most important developments. In addition you can find testimonials on the services the GrECo Group provides to its clients. The case studies are from different industries and GrECo regions.

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How Insurance Companies Pursue ESG Targets

People working on ESG goals in insurance

ESG aspects play an increasingly important role when it comes to allocating insurers’ monies. Apart from these legal requirements insurers have already installed many ESG measures in their companies on a voluntary basis.

ESG and Sustainable Risk Management

Media headlines are dominated these days by the tragic news of the Ukraine war, the threat of further SARS-
CoV-2 mutations leading to new pandemic phenomena as well as the spectre of inflation that is haunting the global community. While these problems may be overcome in the medium-term, the fight against climate change and other widespread problems is here to stay.

Insurance as key stakeholder in the Green Deal

In their function as both risk carriers and investors, insurance companies are expected to contribute to many measures within the framework of the European Union Green Deal and to influence society in general. Although they offer intangible products and will thus probably not pollute the environment, there is a lot of things insurers can do. EU legislation has set out the rules for this part of the financial market through the:

  • Taxonomy regulation (2020/852 EU) applicable to all branches of the economy
  • The Regulation 2019/2088 “on sustainability-related disclosures in the financial services sector
  • The Delegated Regulation 2021/1257 concerning “the integration of sustainability factors, risks and preferences into the product oversight and governance requirements for insurance undertakings and insurance distributors and into the rules on conduct of business and investment advice for insurance-based investment products”, in force as from 2nd August, 2022
  • A set of Regulatory Technical Standards issued by European supervisor IOPA to be published during the course of this year.

Apart from these legal requirements insurers have already installed many ESG measures in their companies on a voluntary basis, the details of which are published in annual sustainability reports – attached, in most cases, to the annual financial reports. There is no standard yet regarding content and presentation of these reports, unlike financial reports that follow specific standards (e.g. IFRS –International Financial Reporting Standards). Although reports tend to look like marketing presentations, their contents are impressive, showing first substantial results and the direction further developments may take. Exemplary activities comprise the following fields of operation.

Underwriting and insurance products

Major international insurance groups founded the Net Zero Insurance Alliance in 2021 with the target to reduce insurance of coal risks (mining, transport, thermal use) to zero and to decrease the capacities for oil and gas risks (prospection, production, transport, thermal use). Other insurers will follow.

Moreover, there is a clear increase in offering insurance capacity and services for new, green technology despite
initial experiences that new technical applications may constitute a higher risk exposure.

It can be expected that insurance questionnaires will contain queries not only in respect of traditional risks
but also regarding details of ESG in general. After 2023, sustainability reports will become one of the basic documents for underwriting decisions and the calculation of insurance rates.

Investment and financial products

ESG aspects play an increasingly important role when it comes to allocating insurers’ monies. The Net-Zero Asset Owner Alliance, established by large asset owners stipulates that there will be no purchase of shares or granting of loans for industries engaged in coal and other environmentally critical business or for those who cannot give satisfactory answers in respect of their general ESG behaviour and measures.

These monies will be reinvested in promising new green technologies and projects that develop both enviromental and social sustainability on a world-wide scale. Investments focus not only on energy production but also on projects for the sustainable use of water and other natural resources or for cleaning polluted areas. Deciding on an investment therefore means considering not only the enterprise itself but also its suppliers, clients and cooperation partners.

This change in investment strategies not only concerns insurers’ own investments but extends to the creation of
investment products in connection with life and pension insurance, the so called PRIIP. First data show that billions of Euros have already been re-allocated in this manner.

Insurance operations and ESG

As the main operation costs of insurance companies consist of expenses for personnel, IT, energy and office space, many decisions can be made in compliance with ESG targets.

Remote working, which had its breakthrough during the pandemic, will be maintained. It reduces traffic volumes
because employees no longer commute every day, and cuts on costs for heating and cooling office spaces. Energy supply will shift to green energy produced on the spot by e.g. solar panels mounted on rooftops. Corporate build-ings with a glass facade will be equipped with better shading, and (air) travel for business purposes will be reduced to a large extent. The supply of office equipment and energy is constantly evaluated, material will have to be produced in a sustainable way, and energy will need green certificates. The use of paper has already been reduced through electronic communication with clients, partners and within the company.

Social and Governance targets

Some companies are running skills enhancement programmes to make employees aware of and fit for ESG
requirements, while increasing job satisfaction.

Gender diversity, up to management board level, has already been given much more attention than in the past
years. The focus is now on equal training opportunities for both sexes at an early stage with clear perspectives for further career options that are based on skills and knowledge.

Many companies and their employees support initiatives that reduce the vulnerability of society beyond the scope of insurance indemnities by lending a helping hand in catastrophes, assisting and supporting our elderly, refugees or even precarious households both financially and through direct action.

Subsidies and grants are given to non-profit organisations, educational facilities, research laboratories and other institutions in order to overcome the problems we are facing in the entire world.

The insurance sector is very well capitalised, there is knowledge about opportunities and risks as well as an acute sense for catastrophes and how to avoid them. These factors provide the grounds for the industry contributing its fair share to making the world a better and safer place. This is it what ESG is about.


This article is a part of our latest Spotlight publication focusing on supply chain issues. Read the publication and learn more about how you can protect your business from changes and unpredictable supply chain disruptions.

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Risk Management Fit for Global Risks

GrECo was invited to take part in a tender for the insurance and risk management of ENGEL, a global leader in the manufacture of plastics processing machines.

GrECo Austria was invited to take part in a tender for the insurance and risk management of ENGEL in 2019. ENGEL is one of the global leaders in the manufacture of plastics processing machines.

ENGEL is one of the global leaders in the manufacture of plastics processing machines. The Group offers a full range of technology modules for plastics processing as a single source supplier: injection moulding machines for thermoplastics and elastomers, complete with the required automation. Their individual components are equally competitive and successful in the market. The family company was founded in 1945. Today, ENGEL operates with about 7,000 employees at 9 production plants in Europe, North America and Asia (China and Korea) has subsidiaries and representatives in more than 85 countries

Insurance based on risk management

GrECo Austria was invited to take part in a tender for the insurance and risk management of ENGEL in 2019. The tender aimed at changing the focus of ENGEL ́s insurance management to a dedicated risk-based approach for the Group’s worldwide companies. The decision to mandate GrECo was based on their integration of operational risk management and risk engineering into our insurance programmes. In addition, they are an owner managed company, like we are. They understand our values of a family business rooted in the region and the visions of a global company”, recalls Christian Zoidl, Head of Legal/Insurance at ENGEL Group.

The cornerstone of the new strategy was the provision of services along the entire risk management process of operational risks. GrECo‘s own subsidiary, GrECo Risk Engineering GmbH, comprises specialists who are familiar with the development and implementation of company-wide risk management systems. The specialist team looks back on many years of industry experience and has used efficient tools to support ENGEL ́s operational risk management activities.

GrECo is an owner-managed company, like we are. They understand our values of a family business rooted in the region and the visions of a global company.

Michael Grininger
VP HR/Legal/Insurance at ENGEL Group

New setup of worldwide property & liability programmes

In order to optimise the property insurance cover and minimise the operational risk, all sites around the globe are and were subject to a risk assessment. During the pandemic, remote and hybrid risk surveys were the order of the day. After the first recommendations were implemented and the risk made “fit” for further treatment, GrECo experts were able to arrange the transfer of the remaining risk to a suitable insurer. “In a change management process, the quality of the risk manager becomes all the more visible. GrECo has displayed its determination and professionalism, has achieved the best results in the insurance market and has shown us the way forward with comprehensive risk management measures,” comments Michael Grininger, VP HR/Legal/Insurance at ENGEL Group.

As far as liability insurance is concerned, a dedicated programme solution for ENGELS ́s state-of-the-art
industry 4.0 solutions was created. The integration of peripheral equipment with customised automation concepts and the development towards a network-based, self-optimising injection moulding production demanded a new worldwide setup. The new programme takes into account ENGEL ́s digitisation efforts by including IT insurance into the worldwide liability programme.

Christian Zoidl sums up: “We made the right choice in partnering with GrECo. They are also a 3rd-generation family business that has successfully ventured out internationally, GrECo is a stable, reliable, and global partner for us.”


This article is part of our new Annual report 2021. The annual report gives you a review on GrECo`s facts & figures of the last business year and our most important developments. In addition you can find testimonials on the services the GrECo Group provides to its clients. The case studies are from different industries and GrECo regions.

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GrECo Annual Report 2021

Read about new GrECo clients, claims management successes and our plans for a more sustainable future in our publication Annual Report 2021.

The risk environment has never been so complex to navigate. In line with our risk-based approach, we look at risks from a business perspective. This has been our key mission in the last year, and you can read how we overcame risk challenges in our Annual Report 2021!

Read about new clients, claims management successes and our plans for a more sustainable future. Some of the highlights in this edition of the Annual report include:

  • GrECo & MAI – Stronger Together: Everything you wanted to know about our recent merger with MAI.
  • Spotlight on GrECo Romania: Read about hard-working colleagues in Romania and their client successes so far. 
  • GrECo nova in Portugal and Brazil: With the GrECo nova network, we can connect clients with brokers all over the world and for this occasion we talked with Jose Manuel Fonseca, CEO of MDS group, our partner in Portugal and Brazil. 
  • GrECo Specialty – Food & Agri: Learn in-depth about what are the services we currently offer in the field of food and agriculture. 
  • Claims Management: What happens when a huge fire causes a major financial loss for our clients? Read how we were able to assist Fischer Sports, our client, during a huge claims management process. 
  • Health & Benefits: During the current war on talents and Great Resignation, offering health and safety protection to employees is particularly important. Read how our Health & Benefits team analysis and determines the best employee benefits package for each client. 
  • Many pages on our CSR topics. 
Read the Annual Report 2021

Related News

Behind the Scenes of Successful Insurance Claims Management

Behind the Scenes of Successful Major Claims Management

Insurance claims management is our core business, especially when it comes to complex or major claims. In doing so, we strive to achieve successful, swift, and fair results.

Our clients and Insurance Claims Management

Fischer Sports GmbH is the global leader in Nordic skiing and one of the world’s leading brands in Alpine skiing, as well as one of the biggest manufacturers of high-quality ice hockey sticks. The privately held company employs nearly 2000 individuals who all share a passion for and dedication to winter sports. Fischer Sports GmbH was founded in 1924 in Ried im Innkreis, Austria, where the global headquarter is still located. Manufacturing
of skis takes place in Austria and Ukraine.

In October 2020 a fire occurred in the Ukrainian production site, caused by a fluorescent tube. The small incident quickly became a major loss, although the building was equipped with a sprinkler system. The reason for this was that the fire could spread through a suspended ceiling over most of the production hall.

GrECo took over the claims management and immediately identified the stakeholders in the process. In addition to the central and local Account Team, GrECo experts in property and business interruption insurance were nominated, the respective insurers were informed, and appropriate loss adjusters were added to the team. Despite that this was a major loss and the location was outside the EU, the claim has been managed successfully, and the reconstruction was started within a year. Unfortunately, the full start-up of the new facility had to be interrupted due to the outbreak of the Ukrainian war, but could be restarted in the meantime.

“Part of our Alpine and Nordic skis are produced in the Ukraine. In order not to miss a whole season we were under a huge time pressure to rebuild our site. GrECo performed extremely well in this case: they established a qualified claims handling team, were on-site in just a few days, managed the relations to all stakeholders and guided us to settle the claim successfully and in time together.”

Christian Egger
CFO at Fischer Sports

What is necessary for successful insurance claims management?

Managing insurance claims is our core business, especially when it comes to complex or major claims. In doing so, we strive to achieve successful, swift, and fair results. Our goal is to ensure our clients receive the contractually agreed benefits and services. We therefore pool all our resources to assist our clients from the very beginning.

Experience shows that 6 key factors largely determine a professional claims management:

  • Crisis management as an effective precaution for an emergency: Being an experienced risk specialist, GrECo steps in long before a claim or other potential threat arises. We provide companies with project-specific support and targeted engineering services. We also help our clients to help themselves. During the last two years, we noted a sharp rise in the demand for crisis and business continuity management. Hence, we assist companies to prepare themselves, act systematically, and be one step ahead in the event of a major claim. The aim is to enable them to handle a crisis in the best possible way and emerge from it largely unscathed. The focus has long since shifted away from mere fire events to new drivers, such as increasing cyber crime and natural catastrophes as well as volatile supply and value-added chains.
  • Adequate risk transfer: Managing risks via a risk transfer requires tailored and transparent insurance programmes. Ideally, there should be no nasty surprises in the event of a claim, e.g.: the lack of risk adequate components in coverage or insufficient insurance sums. Changes in risks –whether due to new markets, products, services, regulatory changes or economic issues – must be constantly evaluated. Currently, the high inflation rate, driven by the pandemic and Russia’s invasion of Ukraine, has led to huge adjustments in both insurance sums and limits on the compensation sums payable.
  • Documented loss adjustments and sensitisation: Special contractual provisions for loss adjustments help speed up the process and avoid potential pitfalls. We step in right at the beginning and agree upon independent assessors with the insurer, implement claims handling procedures and sensitise key stakeholders during workshops with clients. That way, we professionally support and help manage our clients’ claims management as soon as an event occurs.
  • Industry insight and technical expertise: Handling complex and major claims professionally requires us to be familiar with our clients’ busines smodels, their processes, products and services as well as their industry sector. Our vast insight enables us to manage claims proactively and meet assessors, crisis communication experts and loss adjusters at eye level – irrespective of whether we are dealing with production faults or assembly errors in plant engineering, with worldwide recalls of cars due to faulty supplier products or a ransomware attack on a food producer. Every member of our expert team is a specialist in his or her field. Besides lawyers and business economists, our teams comprise experts in machine and plant engineering, chemistry and chemical technology, geodesy and geoinformatics, cultural engineering and water management, natural hazard management, environmental technology and ecotoxicology as well as cybersecurity, IT and communication technology.
  • Knowledge of the insurance markets and selected expert networks: Given GrECo’s strong market position, we are in touch with all decision-makers in the insurance market and work hand in hand with independent, highly specialised loss adjustors who are part of our international network which we have established over the years. During the entire claims settlement process we are in close consultation with all stakeholders: our clients, the assessors and loss adjusters we engage as well as the respective insurers. By acting as “facilitators” and “translators”, we take care of the strategy and communicate in a transparent manner to shed light on facts, answer any technically related questions, and clarify matters concerning economic impacts and insurance coverage.
  • Best in Class – GrECo Complex Claims Team: Complex and major claims are best managed by ou Complex Claims Team. In the event of a claim, they nominate a Complex Claims Manager to steer the entire claims settlement process. Depending on the specifics of an individual case, we combine GrECo’s most suitable resources with the Complex Claims Team. We add client insights via the Account Team and make sure that the diversity of our experts delivers a best-in class claims management. This means that the team is not only familiar with our clients and their industry sectors, but also knows the specifics of the insurance programmes’ coverage inside out. That way, we make sure our clients receive the insurer’s contractually agreed services while securing their liquidity at the same time. In line with our international programmes, our team also manages major claims abroad and collaborates closely with the respective local GrECo nova brokers.

This article is part of our new Annual report 2021. The annual report gives you a review on GrECo`s facts & figures of the last business year and our most important developments. In addition you can find testimonials on the services the GrECo Group provides to its clients. The case studies are from different industries and GrECo regions.

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GrECo Group sets course for the future

GrECo Group Specialist Insurance and Risk Management
  • Friedrich Neubrand retires from the Supervisory Board
  • Friedrich Neubrand jun. moves from the Executive Board to the Supervisory Board
  • Ante Banovac becomes new member of the Executive Board

The market leader in risk and insurance management in Austria and Eastern Europe is preparing a reorganisation in the Executive Board and Supervisory Board of GrECo International Holding AG.

Friedrich Neubrand, company founder and long-standing Chairman of the Supervisory Board, will retire from the Supervisory Board in mid-2023, to be succeeded by his son Friedrich Neubrand jun. Friedrich Neubrand is convinced “that with the strategic realignment we have set the course for a successful and independent future in full agreement with all stakeholders.”

Friedrich Neubrand jun. joined the family business in 1987 and has been a member of the Executive Board since 2005. He has been instrumental in driving the company’s international expansion into Central and Eastern Europe over the past decades. The GrECo Group is currently present in 18 markets in Eastern Europe. “My move to the Supervisory Board ensures that we as a family are represented on the Supervisory Board as well as on the Executive Board by my brother Georg.” emphasises Friedrich Neubrand jun.

Georg Winter, who has been a member of the Executive Board of GrECo International Holding AG for almost 10 years, will take over his responsibility for Sales & Account Management.

Ante Banovac joins the Board as the third member, alongside the long-standing Board members Georg Neubrand and Georg Winter. “I am pleased that with Ante Banovac we were able to fill a strategically important position from within our own ranks; he is an ideal addition to the Executive Board,” says KR Friedrich Neubrand. After several years in leading positions in the insurance industry, Ante Banovac joined GrECo in 2014. As a member of the Executive Committee in the area of Sales and Market Coordination, he has in particular shaped the establishment and further development of the markets internationally.

Friedrich Neubrand sums up: “I would like to thank all colleagues, clients and partners, as well as the Supervisory Board of GrECo for the great cooperation over the past decades. The time has now come for me to retire from the Supervisory Board. At almost 82 years of age and after an intense professional career, I will now focus on family matters and my hobbies.”

The necessary resolutions will be passed at the Annual General Meeting and the Supervisory Board meeting in June and subsequently implemented.

About GrECo

The GrECo Group offers its clients individual solutions in risk and insurance management and is the leading insurance broker & consultant for corporations, associations and authorities in CEE. GrECo was founded in 1925 and is an independent, family-owned company, with the family Neubrand holding 86.67% of the shares. The GrECo Group is headquartered in Vienna, Austria and employs more than 1,000 people in 60 offices. In 2020 the Group placed a premium volume of 871 million EUR and generated total consolidated revenues of 101 million EUR.

Related Company News

GrECo to withdraw from Russia

Today GrECo, the leading insurance broker and risk management provider in Central and Eastern Europe, has announced to transfer its operation in Russia to the local management. The Russian team will continue to advise its clients following strict service delivery guidelines. After 24 years of entrepreneurial activity in Russia, GrECo´s priority is the well-being of its colleagues on site and ensuring service continuity for its clients.

“As a family-run company, we are loyal to our teams and a trusted partner for our clients. The violation of peace and human rights is in sharp contradiction to the values which underpin our organisation. We fully support the demands to stop warfare and to end the tremendous human suffering in Ukraine.” said the broker.

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GrECo and MAI combine forces in Central and Eastern Europe

Specialist insurance broker GrECo acquires 100% of MAI CEE Ltd., a major risk, insurance and employee benefits consultant in CEE

The combined company, to be named GrECo, will be the leading professional services firm focused on the areas of risk and insurance management and employee benefits consultancy in CEE. GrECo has been active in Eastern Europe since 1989 and established a market-leading position with more than 1,000 employees in 16 countries.
MAI was founded in 1991 in Hungary and is active in 13 CEE countries with more than 240 employees, generating a revenue of 16 million EUR. MAI services over 15,000 corporate clients and places insurance premiums of 150 million EUR. With 20+ years in the company, the MAI executive board members are staying on board as part of GrECo’s leadership team.

“We followed MAI’s successful progress over the last decades, and made no secret of our long-standing respect for MAI and belief in the cultural compatibility of the two groups. I am confident that, as we bring the strengths of MAI into GrECo, we will have a significant influx of talent and create a combined group with deep expert skills and an unmatched CEE network in 18 countries. The acquisition of MAI adds a decisive momentum to the growth strategy of our entire group and significantly enhances our value proposition for clients and partners” says Friedrich Neubrand, Chief Executive Officer, GrECo International Holding AG.

Piotr Cieślak, MAI CEE Group´s Chief Executive Officer, summarizes: “MAI’s foundation was traditionally the servicing of international business, meeting the requirements of over 260 insurance brokers and their clients from all over the world. Today we serve both international and local clients across the CEE, CIS and Caucasus region. GrECo, being fully committed to an independent future, is the best fit. The combination of the specialist solutions of GrECo and the network of MAI creates the largest broker in the region. Together we will continue to be an independent, professional and reliable partner for our clients and international broker partners.”

Steve Bonynge, Group Chief Executive of the Oman based RMS LLC states: “RMS’s decision to sell our 72.08% stake in MAI CEE reflects our strategy of serving clients in the Middle East and Asia. We believe the combination of GrECo and MAI CEE represents the best outcome for our clients in Central and Eastern Europe.”

The transaction was signed on the 14th of September 2021, and the parties have agreed not to disclose the underlying purchase price of the transaction. Closing is subject to regulatory approvals.

About GrECo

The insurance market has become extreThe GrECo Group offers its clients individual solutions in risk and insurance management and is the leading insurance broker & consultant for corporations, associations and authorities in CEE. GrECo was founded in 1925 and is an independent, family-owned company, with the family Neubrand holding 86.67% of the shares. The GrECo Group is headquartered in Vienna, Austria and employs more than 1,000 people in 60 offices. In 2020 the Group placed a premium volume of 871 million EUR and generated total consolidated revenues of 101 million EUR.

About MAI

MAI CEE Insurance Brokers Group was established in 1991 to bring international standards and a broad range of insurances to clients in the CEE, CIS and Caucases regions. MAI CEE has since grown considerably, gaining a presence in 26 countries in Central and Eastern Europe with 13 owned operations and 13 cooperation partners. In 2016 MAI CEE‘s shareholder structure changed following an MBO and the RMS Group, a leading Omani insurance broker, became the majority shareholder. The RMS Group operates throughout the Middle East and Indian Sub-Continent as well as through MAI CEE in CEE, CIS and Caucases.

Company News

GrECo Specialty strengthens its Energy, Power & Mining practice

Pawel Kowalewski, renowned expert in the energy sector, will develop power & renewables solutions.

GrECo Specialty, a dedicated specialty unit of GrECo, the leading risk and insurance consultant in Central and Eastern Europe, is further expanding its services for the energy sector. Due to the ever increasing importance of the power and renewables sector a dedicated division was established to better support our clients in this industry. The new practice leader Pawel Kowalewski ACII, ARM, ARe will be heading the Power & Renewables division within the Group Practice Energy, Power & Mining.

Pawel is a seasoned insurance and financial services professional with 28 years’ experience in the industry. He joins GrECo Specialty from a leading Polish power utility conglomerate, where he was the Group Head of Risk Management and Insurance.

A major upheaval in the area of large corporate specialty insurance is expected in the upcoming years, as insurance capacities are withdrawing from carbon-intensive industries. Our objective is to provide existing and prospective clients of the Energy, Power & Mining Group Practice with state-of-the-art risk transfer solutions and optimise their Total Cost of Risk.

The newly formed division Power & Renewables has a clearly defined mission:

  • Provide bespoke re/insurance and Alternative Risk Transfer solutions to companies operating conventional and emerging technologies;
  • Long-term orientation to serve clients requiring sufficient time to transition and adapt to the future of energy, at the same time maintaining agility and leanness to help them achieve short-term objectives;
  • Be a knowledge-driven organisation utilising advanced technology to assist GrECo clients with building and maintaining resilience;
  • Become first mover to create cutting-edge risk & insurance solutions for the Power & Renewables sector.

Zviadi Vardosanidze, General Manager of GrECo Specialty and Group Practice Leader Energy, Power & Mining is happy that “Pawel has exceptional knowledge and understanding of client’s objectives, concerns and constraints, as he has successfully managed the overhaul of insurance programs for the largest power producer in CEE. In addition, he has excellent relationships with key stakeholders in the re/insurance industry. I am looking forward to further develop our Group Practice.”

Pawel Kowalewski

Practice Leader Power & Renewables Division

T +48 507 085 066

Image by Pexels from Pixabay

Related News

Affinity pilot project for insurance of Ukrainian farmers

Parametric insurance solution for Corteva Agriscience

GrECo Ukraine, together with insurance partner ARX Ukraine have launched the pilot project for the Affinity parametric insurance solution for Corteva Agriscience customers.
The solution covers crops such as corn, sunflower, wheat and barley against drought as well as the possibility to monitor the insured soil moisture index through the MeteoControl platform which has become a partner and IT provider of this project.

Applying for the cover is very simple and easy by filling out an application form on the Meteocontrol.ai website.

In parametric insurance, a certain parameter which cannot be influenced by the agricultural producer is insured. Affinity parametric insurance refers to a solution which is distributed by an entity to the end customers, here the farmers. The GrECo Group is specializing in insurance solutions and affinity schemes for dedicated industries.

Corteva Agriscience is a publicly traded, global pure-play agriculture company that provides farmers around the world with the most complete portfolio in the industry – including a balanced and diverse mix of seed, crop protection and digital solutions focused on maximizing productivity to enhance yield and profitability. With some of the most recognized brands in agriculture and an industry-leading product and technology pipeline well positioned to drive growth, the company is committed to working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. Corteva Agriscience became an independent public company on June 1, 2019, and was previously the Agriculture Division of DowDuPont.

The GrECo Group offers its clients individual solutions in risk and insurance management and is the leading insurance broker & consultant for corporations, associations and authorities in CESEE. The Group is an independent, family-owned company, headquartered in Vienna and employs 1.000 people in 57 offices in 16 countries.

ARX Insurance Company is part of the international Canadian insurance group Fairfax Financial Holdings, which has been successfully operating in the Ukrainian market for 25 years, 11 of which are under the AXA Insurance brand.

MeteoControl is a Ukrainian insurtech startup that helps farmers to insure unusual weather conditions using modern software solutions. With the help of Meteocontrol online platform, farmers will be able to apply for the insurance program, generate documents for signing, and track the current soil moisture level and the probability of receiving refund.

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GrECo Annual Report 2021

Read about new GrECo clients, claims management successes and our plans for a more sustainable future in our publication Annual Report 2021.

Read More …