Headquartered in Istanbul, the team at GrECo Turkey is committed to a client-centric service approach and specialises in sectors such as Health & Benefits, Property, Financial Institutions & Financial Lines, Liabilities, Transportation & Logistics, and Energy.
Founded in 2013 with a commitment to resilience and client satisfaction, GrECo Turkey’s high calibre senior management and experienced team, established a foothold in the Turkish market through strategic planning in line with GrECo Holding’s corporate priorities. This paved the way for a new era of experienced risk management and growth in the market.
10 years on, guided by the principles of “trust” and a dedication to fostering meaningful connections, the company has risen to become one of Turkiye’s top risk advisers and insurance brokers and has a formidable presence in the market. Competing not only locally but also on a global scale, its client base is made up of large corporations who are number one in various sectors and located in the most populated cities across the country. The company differentiates itself from the competition in the region by providing specialised and boutique services to these sizeable corporates.
Headquartered in İstanbul, the team at GrECo Turkey is committed to a client-centric service approach and specialises in sectors such as Health & Benefits, Property, Financial Institutions & Financial Lines, Liabilities, Transportation & Logistics, and Energy.
Navigating Challenges: A Testament to Resilience
In 2023,Turkey faced significant challenges such as earthquakes and floods, which increased inflation and hardened the economic environment. However, GrECo Turkey demonstrated remarkable resilience by collaborating closely with clients to overcome the hurdles presented by this devastating economic climate. Upholding a steadfast commitment to supporting clients through adversity and collaborating with them on risk management and consultancy, the company continues to navigate the complexities of today’s landscape, which have been further exacerbated by ongoing political issues. The team prides itself on using its vast experience in the CEE region to forecast the impact of political and economic changes in Turkey before they happen. Such foresight enables them to knowledgeably advise clients in advance of danger.
Drawing upon its longstanding regional focus and expertise, GrECo Turkey has bolstered its team, emerging as a proactive participant in Specialty Insurance by actively becoming involved in the insurance of projects that fall under the category of Special Risks, such as Financial Lines & Financial Institutions, Power & Renewable Energy, and Logistics. Leveraging its accrued experience in the CEE region, GrECo Turkeyis particularly engaged in integrating corporations into their risk management protocols, especially within the context of ESG. It aims to foster growth in tandem with stakeholders for a sustainable future.
Market Insights: Trends and Growth Trajectories
In 2023, non-life insurance, particularly mandatory motor (automobile) insurance which has a 27.5% share, reigns supreme, comprising 88.3% of the GWP share of Türkiye’s insurance market. The overall GWP rose 110% compared to 2022. In addition, despite the prevailing challenges over the last year, the brokerage market exhibited notable growth by expanding its production 139%, where the market recorded 107% growth, and Brokers gained a 14.5% share.
GrECo Türkiye’s Impact: Driving Results Through Service Excellence
In 2023 alone, GrECo Turkey achieved its highest-ever client loyalty level, reaching a 99% renewal rate by facilitating placements and claims across its portfolio of top-notch corporate clients. This achievement underscores the company’s unwavering commitment to delivering value-driven solutions and forging enduring partnerships with its clients.
In light of their endeavours, which have yielded significant contributions to institutions within Turkey and have bolstered the nation’s economic framework, the company’s commitment was particularly tested amidst the seismic events of 2022. In recognition of the debt we owe the land and its inhabitants, the GrECo Foundation focused its resources on aiding relief efforts for children in the earthquake-affected areas. This act not only exemplifies our corporate responsibility ethos, but also underscores the symbiotic relationship between corporate entities and the communities they serve.
Looking Ahead: A Vision for the Future
As GrECo Turkey commemorates its 10th anniversary, it does so with a sense of pride in its accomplishments and a clear vision for the future. With continuous improvement and growth as its compass and client-centricity at its core, the company remains poised to continue its trajectory as one of the fastest-growing, and further solidify its position as a trailblazer in the Turkish insurance landscape for years to come.
What Our Clients Say
Since 1997, Galata Tasimacilik A.Ş. has been one of the leading freight forwarding companies in Turkey.
With 25 years of experience in the logistics sector it provides international airfreight, landfreight, seafreight, multi-modal transportation, warehousing, domestic transport, distribution, and other integrated logistics services. The company serves its 4,000+ active customers with more than 100,000 shipments per year.
Chairman of the Board,
Galata Tasimacilik A.Ş.
Since 2019, GrECo has been our main broker. One of the key reasons we trust them is that they are very proactive and have a guiding approach. Their erudite understanding of the transport and logistics sector means they regularly provide us with innovative solutions to improve our existing systems and policies and foresee future industry relevant risks where others might not. They enable us to confidently forward freight safe in the knowledge that should the worst happen, we are covered. We feel secure and comfortable having them as our solutions partner.
Bilim Pharmaceuticals, founded in 1953, is engaged in the production and marketing of pharmaceutical products. Owners of one of the most important penicillin production facilities in Türkiye, as well as one of the largest, newest, and most environmentally sensitive pharmaceutical production facilities in Türkiye, they market their products locally and to 70+ countries globally.
Chairman of the Board
Bilim Pharmaceuticals
GrECo has been our broker since 2015. We have always been well advised and were proposed good solutions to our requirements. They compose of an experienced and competent team and have been a good companion of our company.
Aytemiz Akaryakıt A.Ş. has been operating in the fuel industry since its establishment in 1963 and has been serving under the Aytemiz brand since 2009. Today, the company welcomes more than 6 million drivers per month to 590 fuel stations in 77 provinces. In 2022, it was ranked 50th in the Fortune 500 rating, which determines Turkey’s top 500 companies
Logistics Manager
Aytemiz Akaryakıt A.Ş.
Following an ongoing profitable relationship with GrECo since 2020, we decided to work with them to support our health and benefits offering in Turkey. It has been a successful and satisfying partnership so far. Good health and benefits are a key concern in our region due to especially modest social provision by the government. GrECo’s service has enabled us to offer our employees unparalleled benefits and more security
Burcak Alagok
General Manager
GrECo Turkey
T +90 216 468 30 01
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