RENOMIA expands into Southeast Europe having acquired a stake in the biggest broker in Croatia and entering Slovenia and Bosnia and Herzegovina
30. September 2021
RENOMIA, the leading Czech insurance broker, will gain a 30% business share in the Croatian market leader FORTIUS INTER PARTES (Fortius). With this acquisition, RENOMIA significantly strengthens its current position in Croatia and at the same time enters two new countries — Slovenia and Bosnia and Herzegovina, where Fortius has branches.
In total, RENOMIA GROUP will now operate in 10 CEE countries with 2,500 employees and manage premiums worth EUR 567 million in Central and Eastern Europe (CEE).
Fortius, the largest broker in Croatia, was founded in 2003 and operates as an insurance and facultative reinsurance broker in Croatia, Slovenia and Bosnia and Herzegovina. It has 34 experienced colleagues.
Croatia and the entire surrounding region are considered a very promising and rapidly developing area. RENOMIA operates in the CEE region via owned operations as well as RENOMIA EUROPEAN PARTNER network of professional brokers.
“Our goal is to offer the best insurance conditions for clients and to resolve claims as quickly as possible in the event of damage. It is important that we provide these services anywhere in the world. Just a few months after joining Latvia, we are once again expanding our regional reach in Central and Eastern Europe. Thanks to the partnership with Fortius, we are now also entering Slovenia and Bosnia and Herzegovina. I am pleased that even during the pandemic, we are succeeding in fulfilling our vision of being the best and leading insurance broker in the CEE region and providing clients with the best bespoke international services,” says RENOMIA CEO Jiřina Nepalová.
This regional development strategy has many advantages for all RENOMIA GROUP clients. RENOMIA shares experience, know-how and technology with teams across countries, allowing them to provide clients with ever better and more comprehensive services. Thanks to the connection with its co-shareholder Gallagher, RENOMIA’s clients can also take advantage of the background of a global international network covering 150 countries around the world.
With this acquisition, RENOMIA celebrated 28 years of its operation in the field of insurance and risk management. “Our regional development will continue, I expect two more countries to join the group next year. We will also continue to invest further in product development, education, and the personal growth of our colleagues. RENOMIA connects its insurance services with digitization, invests in e-commerce and develops other related services. RENOMIA creates a unique environment with an understanding of individual needs combined with huge international resources,” added Pavel Nepala, managing partner responsible for international development.
RENOMIA is family-owned, majority Czech company with Gallagher, the world's leading insurance and risk management company, as the minority shareholder. As a member of the Gallagher global network, RENOMIA has a direct ownership in 10 countries and is the leader in a significant part of Europe, which alone covers a region of almost 100 million people in the EU from the Baltic countries in the north through Central Europe to the south of Europe. In addition, it coordinates services in other countries of CEE via RENOMIA EUROPEAN PARTNERS platform. Prague has thus become a headquarters for ongoing development in CEE with a deep understanding of client and employee needs along with stellar backup in the form of international specialists around the world.
RENOMIA has prepared a long-term investment program for its future, which will support development in individual countries and the group as a whole and will also contribute to the development of the market in the CEE region. “We believe that our mission, values and vision are a great beacon for our work that help us to move forward successfully,” says Pavel Nepala.