GrECo goes global – Insurance broker expands to new horizons, in group with over 9,000 employees

The GrECo group continues to expand. Following last year's acquisition of the majority in 10 corporations in CEE, GrECo has now strengthened its presence globally. The new partner Jardine Lloyd Thompson (JLT) is one of the leading insurance brokers, has operations all around the world and is listed on the London stock exchange.

Today 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%.

Friedrich Neubrand, CEO of the GrECo Group: „With JLT we have found the right partner for our future development without giving up our independence as a family owned business. Based on global operations and class-leading expertise in areas like construction, aviation, energy and telecommunication we are now in an even better position to render our services internationally and with state-of-the-art know how.”

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 Friedrich Neubrand, “This partnership enables us to accompany our clients with investments around the globe in the same way that JLT clients have access to a comprehensive service in CEE by the market leader GrECo.”

And who are 4 "players" in this new group ?

The GrECo Group is an independent insurance broker and consultant and market leader in the region CEE/SEE/CIS. The group is operating in 50 offices with 625 employees in 15 countries. GrECo provides individual solutions in risk and insurance management for corporations, associations and authorities.

Jardine Lloyd Thompson is an international group of risk specialists and employee benefits consultants and the 6th largest company of its type in the world. JLT employs over 6.200 people in more than 100 offices in 34 countries. The group offers a distinctive choice to its clients and partners through the combination of independence, scale and specialism.

The Ecclesia Group is the 2nd largest broker in Germany and employs 1.200 people in 31 offices also in Switzerland. Based on the position as market leader in church, services of the free welfare work and healthcare business has grown its industrial business via a number of brands, including deas, Interassekuranz Sitt & Overlack, J. L. Orth and VMD.

SIACI Saint Honore is the 5th largest insurance and employee benefits broker in France, but ranked 3rd for industrial and corporate business. SIACI has over 1,000 employees and counts 30 of the top 40 French listed companies as their clients. Outside France it has specialized operations in Switzerland, Luxembourg, Shanghai, Dubai und Calgary.