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.

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