I Like the Opportunity to Help Businesses Protect Themselves From Unforeseen Risks: Interview With Irma Ibrahimpasic-Hadzic

” Effective market development often requires a deep understanding of the region’s specific dynamics and the ability to tailor strategies accordingly “interview with Irma Ibrahimpasic-Hadzic, our new Group Market Developer.

Could you tell us a bit more about your new position at GrECo? What will be the main area of your focus?

Ibrahimpasic-Hadzic: Since September 1st, I have been responsible for Group Market Development in the SEE Region at the GrECo Group.

As a Market Developer, I will be identifying growth opportunities, developing market strategies, and expanding the company’s presence in the South-Eastern European region. This includes market research, partnership development, and strategic planning to drive business growth in the insurance and risk management sector.

What made you choose to become a part of the GrECo in the first place?

Ibrahimpasic-Hadzic: I had already established a strong relationship with GrECo, having worked for various international insurance companies in recent years. During this time, I gained very positive experiences both in terms of client relationships and interactions with company employees. Through this experience I also learned about GrECo’s strong presence in the insurance and risk management sector, its commitment to client satisfaction, and its innovative approach to addressing clients’ needs.

Which challenges do you expect in your new role?

Ibrahimpasic-Hadzic: I expect challenges in navigating regulatory differences across the SEE region, competition in the insurance market, adapting to evolving client needs and staying updated on industry trends and emerging risks. Effective market development often requires a deep understanding of the region’s specific dynamics and the ability to tailor strategies accordingly. However, I am confident that together with the respective teams we will rise to these challenges successfully.

Could you tell us a bit more about yourself outside of work? How do you like to spend your free time?

Ibrahimpasic-Hadzic: Given the opportunity, I like to travel because it gives me the opportunity to learn about other cultures and people. I also like to engage in outdoor sports activities and spend time with my family.

What do you like about the insurance and risk management industry, and what keeps you motivated?

Ibrahimpasic-Hadzic: I like the opportunity to help businesses protect themselves from unforeseen risks and contribute to financial stability. Our work involves problem-solving, analytical thinking, and continuous learning, which I find intellectually stimulating and motivating.

Mag.iur. Irma Ibrahimpasic-Hadzic 

Group Market Developer

T +43 664  888 44 790

Related articles

Spotlight on Bulgaria: 25 Years GrECo Bulgaria

Today, GrECo Bulgaria is one of the fastest-growing risk advisors and insurance brokers in the country and enjoys a strong presence in the market.

2023 will mark GrECo Bulgaria’s 25th anniversary. When GrECo Bulgaria was founded in 1998, it was hard to find a footing in the market. Yet, since redefining the corporate priorities in 2015, they have been focusing on different and more modern ways of insurance.

Today, GrECo Bulgaria is one of the fastest-growing risk advisors and insurance brokers in the country and enjoys a strong presence in the market. Following only two rules -“matter of trust” and ” business made by people
for people” – GrECo Bulgaria has managed to ascend to the top 10 brokers in Bulgaria, competing not only with local providers who sell individual insurance but also with the competitors on a global level.

GrECo Bulgaria’s office is in the capital city of Sofia, where most of its clients are located. But the colleagues
are flexible and over the past few years they have travelled over 300,000 km just to be close to their clients.
The main focus of their specialized activities is on Financial Institutions, Agriculture, Transportation and Logistics, Property, Aviation as well as Health & Benefits.

Facts & Figures – Bulgarian Insurance Market

In 2022, inflation was a major setback, which GrECo Bulgaria successfully circumnavigated, working hand in hand with the clients. In doing so, they helped them overcome the difficulties they experienced throughout the year. As a matter of principle, the colleagues do not shirk from difficulties and are always ready to help and guide their clients through tough periods, just like the current situation that has been exacerbated by the military conflict in Ukraine.

The Bulgarian non-life insurance market was dominated by car insurance and property insurance, with a share
of 88.4% registered in 2022. The brokerage market has grown by 12% in 2022.

GrECo Bulgaria managed to place over 28 million EUR premium from a total of 330 clients and over 1,100 policies in 2022.

What our clients say:

GfK

For over 85 years, GfK has been supporting its clients in business-critical decision-making processes concerning consumers, markets, brands, and media. GfK’s reliable data and insights, together with advanced AI capabilities, have revolutionised access to real- time, actionable recommendations that drive marketing, sales, and organisational effectiveness of GfK clients and partners.
 

Polia Green

HR Business Partner – Global Operations & GSC Bulgaria (MI, MM, MCI)
Human Resources Department | GfK | Bulgaria

Whenever when we required a specific service, additional clarification and follow-ups they were there for us! GrECo is a true partner who has our needs in mind and best interests at heart. They are great advisors whom we can count on for insights, current trends and possible solutions.

KPMG ITS

KPMG ITS is an exclusive IT service provider to the member firms of the KPMG network across the world. They deliver the full spectrum of IT services, including Project and Process Consulting, Cloud, Software Engineering, and DevOps.
 

Anita Asenova

Associate Manager | Payroll,
Compliance & Benefits, KPMG ITS

We first started working together with
GrECo during the Covid pandemic.
Together we succeeded in not only adapting
to the fast-moving changes but also anticipating them. GrECo specialists shared their knowledge and ideas on how to improve
the management of benefits and wellness
for our employees and provided us with
updated information about new risks and
insurance trends in Health & Benefits.

Related Insights

Our Role Is to Help Our Clients Navigate the Ever-Changing World: Interview With Pawel Kowalewski

“Our role is to help our current and future clients navigate the ever-changing world, transform their business to reflect evolving conditions and have the management focus on taking advantage of resulting new opportunities and creating value for their clients and shareholders”interview with Pawel Kowalewski, our new Group Practice Leader Energy, Power and Mining.

Could you tell us a bit more about your new position at GrECo? What will be the main area of your focus?

Kowalewski: It is not so much a new position as it is a new responsibility.  Although I was primarily involved in GrECo’s power accounts, I was also contributing to the group effort in the field of energy and mining.  These three areas are in many ways interconnected and complementary and in many instances it is difficult to tell one from the other.  Therefore, I will be focusing on developing the combined portfolio of GrECo’s business to make sure we can offer our clients risk management solutions that will help them deliver world-class products and services that literally get the world moving.

What are some of the biggest challenges in the area of energy and renewables?

Kowalewski: From the risk management perspective, these are increasing complexity and volatility across many dimensions. Ever bigger and more complicated machinery, rapidly changing commodities pricing, global inflation and fragile supply chains. Exciting new technologies bring about limitless promises but also new known and unknown challenges and risks. If you add an increase in the frequency and severity of natural catastrophe events and climate change you get the picture of the new reality where the optimization of risk management processes rapidly becomes key to success for our clients – and for ourselves.

What can clients in the energy sector expect when they do business with GrECo?

Kowalewski: We have been building our success story on a thorough understanding of our clients’ unique risk landscapes which allows us to create and market bespoke solutions. This almost means becoming a part of our client’s risk management teams. Ideally, we would be involved in discussions about new projects or initiatives early to provide clients with feedback, guidance and training that address potential issues early in the process and help avoid pitfalls. We have demonstrated to our clients that they always can expect from us the highest standards of delivery and no risk is too difficult or too complex for us to place. Speaking of delivery, we tend to take a realistic approach leveraging our understanding of current market conditions and to overachieve rather than overpromise.

How do new ESG requirements affect the field of energy and renewables?

Kowalewski: Not only does it affect Energy, Power and Mining, but first and foremost it affects our clients. In the Environmental dimension, it means the electrification of the economy, which means the gradual transition from primary energy sources such as fossil fuels into electric energy propelling ever larger swatches of the economy. To generate and deliver requisite electricity we will need many more power stations as well as transmission and distribution lines than we have today and to build those we need to extract, process and deliver large quantities of raw materials and products around the globe. The world as we know it will change at a rapid pace and central to ensuring successful transition is good risk management.

We cannot also forget about the Social dimension – ensuring that the entire world population, not only the rich and the mighty – have access to affordable energy which in today’s world is one of human rights. Finally, the Governance aspect of ESG makes us focus on compliance and integrity as core values of the GrECo team.

Our role is to help our current and future clients navigate the ever-changing world, transform their business to reflect evolving conditions and have the management focus on taking advantage of resulting new opportunities and creating value for their clients and shareholders.

What made you choose to become a part of the GrECo in the first place? 

Kowalewski: As a former client, I liked the no-nonsense approach and found a common language with the EPM team and GrECo management. I found GrECo to be a very strong regional player, having a large footprint and resources requisite to provide risk management services to even the largest companies in our part of the world, yet being able to focus on individual client needs and go the extra mile to deliver the promised result.

Could you tell us a bit more about yourself outside of work? How do you like to spend your free time?

Kowalewski: AI try to leave in the office all the exciting things that the EPM team deals with every day and not take them home. Outside of working hours, I try to enjoy all the simple yet thoroughly wonderful things in life such as spending quality time with my family and friends or reading a good book.

Pawel Kowalewski

Group Practice Leader Energy, Power and Mining

T +48 507 085 066

Related articles

The Focus on the Client Has Never Been Lost: Interview With Paul Spittau

“Despite the growth of the company, the focus on the client has never been lost and is still the center of attention”interview with Paul Spittau, our new Head of Group Carrier Relations & Insurance Mediation.

Could you tell us a bit more about your new position at GrECo? What will be the main area of your focus?

Spittau: Since 1st of June, I am responsible for Group Carrier Relations & Insurance Mediation at the GrECo Group.

On the side of Group Carrier Relations, I act as key person for relations with carriers for various issues, support and initiate the agreement of frame contracts to increase broking efficiency and generate added value for our clients. Another important role is to observe the market security in terms of carriers financial strenght, performance quality, etc..

In the area of Insurance mediation I have to ensure that GrECo’s broking strategy is delivered and always aligned to our core principle of acting in the best interests of our clients and in accordance with the legal framework for insurance intermediation.

Last, but not least, I am responsible for our GrECo Group’s own insurance.

What are some of the biggest challenges in your area of expertise?

Spittau: Challenging, but also very interesting, is the fact that you always have to be up to date on developments in respect of insurance mediation for 17 countries in order to always be able to react in time. As each country has its own legal requirements, it is also a challenge to implement insurance solutions on a group level.

What made you choose to become a part of the GrECo in the first place? 

Spittau: GrECo is a family-run independent Austrian company, that has made an amazingly successful development in the last decade.

Despite the growth of the company, the focus on the client has never been lost and is still the centre of attention.

This success story and the values-based corporate culture that is lived here have inspired me very much, and I am now very much looking forward to making my contribution to further successful development.

Could you tell us a bit more about yourself outside of work? How do you like to spend your free time?

Spittau: I love to travel and get to know new cultures and people around the world.

In my free time I like to do any kind of sports. Since I was 8 years old, I have been an enthusiastic ice hockey player, but you can also find me at the tennis court, at the golf course or hiking in the mountains.

Paul Spittau

Head of Group Carrier Relations & Insurance Mediation

T +43 664 537 17 42

Related articles

GrECo’s ESG Strategy: Rethinking Sustainability

GrECo’s sustainability strategy comprises a holistic and systematic approach, focusing on involving all stakeholders and raising awareness among employees.

GrECo is a family-owned business that has been committed to sustainability for almost 100 years. We believe that being a family business provides us with the unique advantage of taking a long-term perspective on our efforts. Sustainability is not only a social obligation for us but also a strategic opportunity to create long-term value for our stakeholders. With this mindset, we have consistently pursued this issue in our operations and strive to continue to do so in the future. In 2022, we set ourselves the goal of rethinking our sustainability strategy by focusing on ESG aspects.

Involving all stakeholders

We aim to involve all relevant stakeholders in our ESG strategy development. At the same time, we want to ensure that sustainability is integrated into our corporate strategy and lived by all our employees to create a livable future for all of us. Our sustainability strategy will be continuously monitored, and as we take steps into the future, the success of its implementation will be reported, regularly reviewed and adjusted.

Project implementation and sustainability roadmap

Four focus areas were identified: Risks & Solutions, Environmental Performance, Social Responsibility, and Communications & Reporting. A responsible person was nominated for each area to elaborate on the subtopics and create a sustainability roadmap. This roadmap includes KPIs, personnel and financial efforts as well as a timeframe. The roadmap has already been approved by the Supervisory Board and will be implemented in 2023 and 2024.

Georg Winter

CEO GrECo Group

At GrECo, we’re committed
to making a positive impact
on sustainability by supporting
our clients on their risk
transformation journey with
a holistic approach
to risk management.

Materiality and Stakeholder Analysis

In the coming years, GrECo will conduct a materiality analysis and stakeholder analysis to prioritise the 13 identfied topics. The company will ensure that all stakeholder groups, such as clients, employees, shareholders, and suppliers, are included in the process.

Neubrand_Georg, GrECo Group Leadership Member

Georg Neubrand

CFO GrECo Group

Our ESG strategy will
help us to reduce our carbon
footprint and enhance our
reputation as a responsible
business through ambitious
targets and sustainable
practices.

Implementation and employee training

We, at GrECo, understand that our employees play a vital role in ensuring the success of the ESG strategy. As a risk specialist, we recognise the importance of raising awareness among our employees about ESG issues.
This ensures they are well-equipped to advise clients on the impact ESG-related developments will have on their risk landscape. Therefore, in addition to integrating ESG criteria into our own business policy and expanding services, GrECo will also provide training and sensitise its employees across all 17 countries on ESG matters. This approach ensures that the entire team is aligned with the company’s sustainability goals and well-equipped to effectively support clients in achieving their own sustainability targets.

Andratschke_Gabriele, Head of GrECo Group Human Resources

Gabriele Andratschke

Head of Group Human Resources

We will take our
commitment to social issues
to the next level and further
enhance our focus on diversity,
inclusion, and human rights.

A holistic and systematic approach to sustainability

GrECo’s sustainability strategy comprises a holistic and systematic approach, focusing on involving all stakeholders and raising awareness among employees. By embracing ESG principles, GrECo aims to continue its legacy of sustainability for the next hundred years.

Steininger Petra, GrECo Group Head of Communication

Petra Steininger

Head of Group Communications

Our ESG strategy will
successfully implement
transparency and
accountability through
governance and reporting
practices, gaining
even more trust and
confidence to strengthen
our reputation.

Gabriele Andratschke

Head of Group Human Resources

T +43 664 962 39 18

Petra Steininger

Head of Group Communications

T +43 664 548 55 58

Related Insights

GrECo ESG Strategy: Unwaivering Commitment to Sustainability

At GrECo, we are passionate about making a positive impact on sustainability.

Sustainability is not just a trend, it’s our responsibility As a family business, GrECo takes a long-term view and
is committed to passing on its values and beliefs from generation to generation. That is how we, at GrECo, have
been living sustainability for almost 100 years. Naturally, we will continue to take this responsibility seriously
in the future. GrECo’s sustainability strategy mirrors this commitment perfectly.

Our ESG strategy is an essential part of our corporate strategy. It reflects our vision, mission and values. Moreover, it highlights the importance of taking a forward-thinking sustainable approach.

Championing future-focused independence
for sustainability

We believe that taking a long-term view and considering the impact of our actions on future generations is crucial for sustainability. We are committed to promoting future-focused independence to ensure a sustainable future for all of us.

Tailored solutions for unique sustainability challenges

Customised solutions are crucial for sustainability. As each of our clients faces unique sustainability challenges, we are committed to providing tailored solutions to help them achieve their sustainability goals.

Building trust through accountability and transparency

Trust is a key value for sustainability. At GrECo, we promote accountability and transparency to build and maintain sustainable relationships and partnerships.

Promoting a positive workplace culture with empathy and respect

A positive workplace culture is essential for sustainability. At GrECo, we promote empathy and respect to create a work environment that is supportive and inclusive.

Key focus areas for a sustainable future

Our ESG strategy focuses on four key areas: Risks & Solutions, Environmental Performance, Social Responsibility, and Communications & Reporting. We have identified 13 topics to guide our efforts and create
a positive impact on the environment and society.

  • Integration of ESG into business policy and core processes
  • Establishment of ESG risk-thought leadership
  • Extension of services regarding transformational risks
  • Promotion of innovation for ESG solutions
  • Improvement of mobility management
  • Optimisation of operational ecology
  • Establishment of resource-friendly business processes
  • Development of a climate strategy
  • Creation of environmental management systems
  • Facilitation of a healthy working environment
  • Enforcement of employee equality
  • Promotion of people development
  • Funding of social responsibility

Risks & Solutions: Making a positive impact on sustainability

At GrECo, we are passionate about making a positive impact on sustainability. Our greatest leverage lies at the heart of our business: We understand the risks of our clients and provide tailored solutions to mitigate those risks.

Our goal is to advance sustainability by ensuring enduring and future-proof support for our clients on their risk transformation journey. That is why we have adopted a holistic approach to risk management, which helps organisations identify and address interrelated sustainability risks and opportunities. By integrating ESG criteria into business policies and expanding our services, we can become a game-changer. That way, we shall act as a multiplier for sustainability and make a significant positive impact. Join us in our mission to transform the future of sustainability!

Bachmann electronic GmbH

Headquartered in Feldkirch, Austria, Bachmann is a rapidly expanding organization with over 500 employees worldwide. They have been developing unique automation and system solutions for customers around the globe for more than 50 years. When it comes to automation in the energy, industry and maritime sectors, Bachmann is truly an expert. They excel at unique, tailor-made system and solutions, perfectly adapted
for the operating environment.

Bernhard Zangerl

CEO Bachmann electronic GmbH

As a leader in technology and the global
market for wind turbine automation,
we sign a 100% reliable partnership
to our customers. We value the same
close and trusting relationship with
GrECo, our long-standing partner
for proactive risk assessments and
tailor-made insurance services.

Saubermacher Dienstleistungs AG

Saubermacher AG is an international waste management and recycling company based in Feldkirchen near Graz. The family owned company was founded in 1979 by Hans and Margret Roth and is a qualified partner for approx. 1,600 municipalities and around 42,000 companies. The company employs around 3,600 people in Austria, Germany, the Czech Republic, Hungary, Slovenia, and Croatia.

The company follows its vision of zero waste, i.e. processing waste in such a way that it can be kept in the cycle for as long as possible. For example, Saubermacher already achieves recycling rates of up to 95 percent for lithium-ion batteries and a recycling rate of around 86 percent for light packaging waste. As an important part of the circular economy, the company is also the leading producer of substitute fuels in Austria and additionally supports the industrynwith individual consulting services and waste intelligence on its way to more sustainability and CO2 neutrality. In GRESB’s (Global Real Estate Sustainability Benchmark) sustainability assessment, the environmental pioneer achieved an outstanding second place last year, and before that a sensational first place four times in a row.

Georg Ketzler

CFO
Saubermacher Dienstleistungs AG

Saubermacher and GrECo are not
only connected by a long-standing
partnership, but also by a common
philosophy. As family businesses, we
both attach importance to creating
a sustainable future for the next
generations. With GrECo, we have
been continuously improving our risk
standard and promoting risk awareness
in our company for many years!

Gabriele Andratschke

Head of Group Human Resources

T +43 664 962 39 18

Petra Steininger

Head of Group Communications

T +43 664 548 55 58

Related Insights

GrECo and MAI – Stronger Together

“The acquisition of MAI is a strategic investment into a joint future.” An interview with our COO Ante Banovac 

GrECo recently acquired MAI CEE. How will GrECo benefit from this acquisition?

Banovac: For us, this transaction is rather a joining of forces than an acquisition. It is a strategic investment into a joint future. Unlike private equity or other financial investors, our shareholders have a long-term outlook. Hence, our full focus is on high-quality services for our clients, being a trusted and loyal partner to them, and offering first-class specialist solutions. After thirty years of dedicated work, GrECo has become the leading independent insurance broker and risk advisor in Central Eastern and Southeastern Europe. We like to call this region our home territory. We are constantly striving to improve and strengthen our leading position by offering talented people from the region a superb platform to develop and grow. MAI is also an independent broker, traditionally rooted in CEE and SEE, just like us.

What is your impression of your new MAI colleagues?

Banovac: MAI is home to many incredibly talented and motivated people. I know this first-hand, as I have been deeply involved in making this transaction happen. Together, we will be expanding and improving the portfolio of our professional services for our clients. MAI brings valuable know-how to the table, among many other things, superb expertise in servicing international businesses, first-class international network affiliations and strong Health & Benefits and HR advisory. We are proud that MAI has decided to shape the future of risk advisory in Eastern Europe with us.

The integration process after an acquisition can be complicated and complex. How is the integration going so far?

Banovac: The integration is well on track. Colleagues from different countries have moved into our new joint offices, and our systems and operating models are being streamlined.

The challenge we need to overcome in 2023 is IT integration, as this directly impacts the daily work routine of our teams. But even here we are making good progress. Czech Republic, Slovakia, Albania, and Croatia are now fully integrated. This means that our new colleagues in these countries are already using our CRM and reporting systems GOS and MIS. This gives them a seamless experience across the organisation. We are committed to continuing this process and bringing the rest of our countries on board as quickly and efficiently as possible. We are thankful to everyone involved in this effort, and we look forward to the benefits that this integration will bring to our clients and our organisation. We will also continue focusing on our legal merger, which will be concluded by the end of 2023.

Integrating two entities also means integrating people. How is this going so far?

Banovac: This indeed is a complex undertaking. Firstly, for us joining forces is not about realising cost synergies on the back of our teams. We have promised and lived up to this from the very beginning. That is why most MAI colleagues have chosen to stay on board during the transition, which is still ongoing.

We are extending a heartfelt welcome to all colleagues willing to contribute to our joint future success and do not differentiate between colleagues working for MAI or GrECo. Consequently, several MAI colleagues have taken senior positions in our Group after certain organisational changes had been made. For example, Natalia Zaborovska took on the role as Group Head of International and Gediminas Dauksa from Lithuania has been promoted to Group Practice Leader Transportation & Logistics.

Secondly, bringing teams together is all about honest, clear communication among equals and living up to what has been promised to each other. Notwithstanding some existing differences, both our cultures are characterised by respectful communication, and openness for constructive feedback. This helps us learn from each other, grow together, and create positive team settings. We are dedicated to cultivating and developing both, young talented colleagues as well as experienced ones who can contribute to the joint future of GrECo.

Lastly, in our increasingly digitised world we use every opportunity to get together in person, spend time together and get to know each other beyond pure work-related tasks. In my opinion, this is one of the most important elements of becoming one group.

GrECo is now present in two new countries: Albania and Georgia. Could you describe GrECo’s capabilities in these markets? 

Banovac: We are incredibly proud and happy to welcome two more countries and their great teams to our Group.

Few people know that MAI was the first licensed broker in Albania. Since 2008, MAI has been providing broker services for both international and domestic clients, mostly focused on property & casualty (construction, energy, oil industry, aviation, and telecommunication). As we have now combined this expertise with our risk advisory and specialty as well as our dedicated management in claims, GrECo Albania Insurance & Reinsurance Brokers will continue to provide market-leading risk and insurance advisory in Albania.

The Georgian office of MAI had been established in 2007. Over the last 15 years, MAI Georgia has become the undisputed market leader, capturing a market share of 25%. MAI Georgia is valued by clients for its fairness and outstanding service. The company has a very strong focus on reinsurance and is dominant in aviation, hospitality and complex infrastructure projects. Since early 2023, the company has been operating under the new name – GrECo Georgia Insurance and Reinsurance Brokers.

Petra Steininger

Head of Group Communications

T +43 664 548 55 58

Ante Banovac, GrECo Head of Group Sales & Market Coordination

Ante Banovac

Executive Board Member/COO

T +43 5 04 04 372

Related articles

Parametric insurance – rapeseed: Bessé and GrECo sign an exclusive distribution partnership agreement

Bessé, leading French insurance consulting firm, and GrECo, largest independent risk and insurance management advisor in Eastern Europe, announce the signature of an exclusive partnership agreement to extend the distribution of the parametric solution “Rapeseed Germination.” Based on an innovation developed by Bessé in collaboration with AXA Climate, the joint project between Bessé and GrECo now enables the deployment of a European parametric insurance solution.

A unique innovation for the agro-food industry

Bessé, with its strong focus on innovation, is a pioneer in the field of parametric insurance. In France, the teams have developed a unique insurance product for stakeholders in the oilseeds sector in response to growing climate risks affecting the cultivation of rapeseed: increasingly dry summers deteriorate the growth potential of this crop, from the earliest stages of its development. The solution developed can cover the risk associated with rapeseed germination and is particularly designed for seed companies and grain dealers’ organisations.
Unique on the market, this product is the only solution that can determine the quality of rapeseed germination at field scale, through biomass measurement.

This innovation, developed by Bessé’s experts, is gaining popularity among agro-food operators: almost 80,000 hectares are already covered in France, and it was deployed for the first time in Romania in 2022.

Working together to develop a European parametric insurance solution

Satisfaction in France and confirmation of the solution’s ability to meet the rapeseed crop insurance requirements open new development perspectives in European countries with a strong agricultural sector.
This situation has naturally led Bessé to collaborate with GrECo in CEE. After working together for several months to understand the needs of the stakeholders in these countries and adapt the solution to local particularities, the partners have signed an exclusive distribution agreement, which is already being deployed in the sector.ion.  

Jean-Philippe PAGES
Head of Bessé Large Risks Department

We are delighted to have signed this distribution agreement with GrECo. Like us, they have agro-food experts in their teams as well as solid knowledge of agricultural and parametric insurance. I am proud of this joint project that has led to the development of a European insurance solution that meets the new needs of the agro-food industry. This partnership also confirms the pertinence of Bessé’s strategy and supports our ambition to continue to innovate for our customers.

Shylov Maksym, GrECo Practice Leader Food & Agriculture

Maksym Shylov
GrECo Group Practice Leader in the Food & Agriculture industry

GrECo’s strategy is to specialise in dedicated industries and solutions, such as food and agriculture.  The specific needs and individual risk and insurance situations of our clients drive us to provide the best service as well as tailored solutions. The start of the cooperation with Bessé is a clear step towards implementing this business model. Together, the two companies are forging a common path with the ecological challenges and digitalisation of agriculture, which in turn requires the development and implementation of innovative risk advisory and insurance solutions. We are very pleased about the start of this project

About Bessé
Bessé teams are experts in insurance brokering and consulting for professionals. 500 employees apply their innovation capacity on a daily basis in their specific areas of expertise to support their customers, helping intermediate-sized businesses and large corporations to protect their activities and employees. Over 60 years, with the same values and the same independent spirit, Bessé has gradually emerged as one of France’s leading firms. Bessé’s teams, regularly acknowledged for their quality of service and advice, strive to build long-lasting, trust-based relationships with their clients. No.1 broker in the Risk Managers’ satisfaction survey 2023 (Golder & Partners and OMC). In 2022, Bessé recorded a turnover of €131 M.

Petra Steininger

Head of Group Communications

T +43 664 548 55 58

Related articles

Statement of the Executive Board

In 2022, GrECo boosted revenues despite a very challenging trading environment.

Key Metrics and Highlights

GrECo International Holding AG increased its total consolidated revenues by 22.7% to 132.2 million EUR in 2022. This substantial growth was driven by extraordinary organic growth combined with major acquisitions. Profits before tax remained stable with 14.9 million EUR in 2022.

Corporate Developments

In line with our risk-based approach, we look at risks from a business perspective. We consider the specific business environment, speak our clients’ language, and understand the challenges they face in their industry sector. For our clients, insurance provides important solutions. We help our clients to properly manage risks in this rapidly changing environment and turn challenges into opportunities before they result in losses.
 
Our specialty-led approach is the core element of our corporate strategy. To support it, we have attracted the best talents and have formed industry-focused practices to provide our clients with innovative concepts that meet their specific needs. This solid foundation thrives on our teams’ outstanding quality of work, their commitment and passion as well as an unwavering focus on achieving the best results for our clients in an increasingly complex risk environment.

Attracting and developing talent is at the heart of our strategy

Being an attractive place to work is of paramount importance to us. As the global economy changes and risk and insurance management services become more complex, we are investing heavily to stay at the forefront with the specialist knowledge, skills and abilities that are important for the future. Therefore, we will continue to devote significant resources to attracting and developing talented people and creating an environment where talent thrives.

Outlook

While the Group considers the factors within its control intact, external factors, such as the ongoing war in the Ukraine, related sanctions, increasing inflation and the potential of further disruptions in supply chains, present a serious risk. However, we remain confident that our core businesses will continue their solid performance and believe that our client-focused specialty strategy will fuel our growth over the long term.
 
Our strong growth, both organically and inorganically, confirms that we are on the right track with our corporate strategy. It also shows that talent, entrepreneurs and brokers are interested in joining our enthralling course. A financially sound and competitive company with outstanding employees has been the foundation of GrECo’s journey so far. Before we continue our exciting journey, we want to thank all our great colleagues: We greatly appreciate and always admire the outstanding efforts and value you contribute every day!

Ante Banovac, GrECo Head of Group Sales & Market Coordination

Ante Banovac

Executive Board Member/COO

T +43 5 04 04 372

Georg Winter

CEO

T +43 664 962 39 06

Neubrand_Georg, GrECo Group Leadership Member

Georg Neubrand

CFO

T +43 664 402 60 54

Related articles

New Horizon Risk Thought » Fast Forward Publication

We are excited to announce the release of the 2nd Horizon Risk Thought » Fast Forward publication!

The theme of this year’s edition is “Beyond globalisation” and it concentrates on the geopolitical transformation and therefore looks at all its challenges from various angles.
 
We are undergoing times of permanent change. This change takes place in different fields and segments. They, in turn, are interlinked at various levels. HORIZON’s risk-oriented approach aims to define and outline the key areas of change affecting your company. In doing so, we take a close look at the systemic influences of ecological, geopolitical, technological and social transformation on your company’s risk landscape.
 
For the 2nd year in a row, we gathered insights from experts and risk specialists and present their findings in one publication. We hope to shine a light on multiple areas of risk and ways to mitigate them.

Click here and read the full publication.

Related articles