RENOMIA has acquired a majority stake in a renewable energy insurance specialist
18. April 2023
RENOMIA, a leading Central European risk management, insurance and claims management consultancy, has acquired a majority stake in Renewable Energy Insurance Broker (REIB), a Bulgarian company specialising in the insurance of renewable energy sources, particularly solar and wind power plants. RENOMIA, which celebrates its 30th anniversary this year, maintains dynamic growth through a combination of organic growth and M&A.
The insurance brokerage company REIB operates not only in Bulgaria, where it has its headquarters, but also in other European countries. It offers specialized insurance products to cover the risks of construction and operation of renewable resources. REIB currently manages the insurance of operators of solar installations with a total output of over 2 GWp.
"We recognize the growing interest in the use of renewable energy sources and are ready to help our clients anywhere in the world manage the risks associated with the construction and operation of related technologies. Experienced RENOMIA and REIB consultants will develop this specialization in all countries where RENOMIA operates in cooperation with specialists from our global network. All of our clients will benefit from this connection," says RENOMIA managing partner Pavel Nepala.
"Partnership with RENOMIA and Gallagher will allow us to further intensively develop our specialization and at the same time offer our clients many other services in the field of insurance and risk management. We are pleased to have found a partner in RENOMIA who, like us, bases client service on expertise and constant service improvement," comments Delyan Iliev, managing director of REIB Europe.
RENOMIA is no newcomer to the Bulgarian insurance market, having been operating here for 16 years through its subsidiary. It will actively cooperate with REIB in the development of RENOMIA's business activities in the region.
RENOMIA is the largest Czech company focused on risk management, insurance, claims settlement and other related services. It implements optimal insurance programs for its clients and provides quick solutions to claims in the client's interest. It is also a leading company in this area in Central Europe with subsidiaries in 12 countries. RENOMIA was founded in 1993 in the Czech Republic by the Nepala family. It is part of the leading global Gallagher Group, which is a minority shareholder of RENOMIA, and provides quality services for its clients all over the world. Despite its size and international presence, RENOMIA retains its family character and friendly corporate culture. By the end of 2022, RENOMIA GROUP managed insurance premiums worth USD 770 million for its clients.