Prospects and opportunities in the insurance and reinsurance market are seen by the SRS Group of Companies, which has two subsidiaries operating in Greece as (insurance) brokers, while the parent company is based in the United Kingdom. As noted, SRS focuses on business and industrial risks through partnerships with brokers and insurance companies. According to the company’s managing director, Konstantinos Antonopoulos, the company’s work begins when it is approached by an insurance broker who tries to place an insurance risk, which usually can not be easily placed in the local insurance market. He then undertakes to find in the international market the (anti) insurance solution that the partner is looking for, in order to present it to the insured. When and if the insured gives an insurance order, then it is up to the partner to decide whether the contract will be issued by an insurance company abroad or a Greek insurance company.
Usually the brokers / partners of SRS Group of Companies, as they emphasize, choose to issue the insurance policy in Greece and to write the insurance premiums in Greece, something that is supported by the group. This strengthens the long-term relationships they have with insurance companies and helps develop their production in them, in order to achieve their sales goals. At the same time, through a Greek insurance company, the best service of the insured is ensured.
“Our companies contribute to the local insurance market and this is a great joy and honor for us. Our company is not competitive with anyone. We compete, we do not compete. Our goal is to work with everyone in Greece,” said the CEO. Emphasizing that most of the group’s portfolio consists of new operations for which the (anti) insurance solution was found, these are not operations transferred by insurance companies and insurance offices. Apart from the free market, where risks are placed in all sectors with emphasis on responsibilities, the group has at its disposal a high underwriting capacity by A + (anti) insurers for comprehensive coverage of General Liability and Cyber ​​Liability, but also Terrorism Property & Liability . The group’s specialization is in all branches of Civil Liability and in business and industrial risks. Indicatively, General Liability, Professional Liability, Product Liability, Employer Liability, Ship Repairs Liability, Construction Projects, Cyber ​​Liability, Liability of Managers and Executives Terrorism Property & Liability and others. As mentioned, the activity is focused there without excluding other sectors, such as Property, Project Insurance, Marine, but the Greek market is in greater need of responsibilities. According to Mr. Antonopoulos, “there is a very positive response from brokers and associates in Greece and abroad and many more requests have been considered so far than the company had originally planned in the business plan, despite the special circumstances prevailing. internationally in recent years “.
Finding (anti) insurance support is not an easy task these days.
The pandemic, the war and their consequences on the international economic scene, as well as the increased, worldwide, losses, have created conditions of “tough”, so to speak, market with increased tariffs and restrictions on what is desired, for (re) insurers, risks. The only way to manage the market a hard market is, according to SRS, good collaborations, teamwork, the right service, finding (anti) insurance solution at the right price. It’s the time for insurance professionals to prove their skills, the company points out. The course of the company towards the third year of its operation is strongly upward and has surpassed the business plan of the people who envisioned and built it, despite the special conditions that prevailed in our country and worldwide. Especially for Greece, the development prospects of the sector are important. The low penetration of the insurance sector in the Greek economy, the low loss ratios that characterize the Greek insurance market and the first signs of recovery of the Greek economy through investments will create a scenario with many opportunities for companies in the sector, as long as there is a normalization situation on the European market.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
