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Insurance broker GrEco goes global

Deals

Following last year's acquisition of the majority in ten corporations in CEE, the GrECo group continues to expand. The insurance broker strengthened its presence globally with its new partner, Jardine LloydThompson (JLT), one of the leading insurance brokers, has operations all around the world and islisted on the London stock exchange.

The exclusive trading agreement between 4 leading and independent European insurance brokers was announced in London. In addition to JLT (UK), SIACI Saint Honore (France), the Ecclesia Group (Germany) and the GrECo Group (Austria) form the core of the JLT International Network, which is operating in 130 countries with over 9,000 employees.

The cooperation is sealed with a financial interlocking. JLT has been holding a 20% stake in SIACI for years and is now acquiring a 20% share in the GrECo Group in which the Ecclesia Group is already holding 13,33%.

GrECo has been operating on the Austrian market since 1925. In 1989 the expansion towards the east began as first international broker in Hungary, followed by further 14 countries. “Together with JLT we are now also present in the booming economies of Asia and Latin America. “ says CEO Friedrich Neubrand. (BBJ)

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