InterCapital Establishes Insurance Brokerage Company

InterCapital Risk, a new company within the corporate structure of InterCapital, the largest brokerage house in Croatia, will engage in insurance brokerage. Insurance brokers in developed EU countries mediate in the conclusion of even half of insurance products, while in Croatia they hold only about three percent of the market.

Therefore, InterCapital sees an opportunity for expansion in this area and intends to quickly reach the top 10 insurance brokerage intermediaries in Croatia. The newly established brokerage company InterCapital Risk will provide insurance and reinsurance brokerage services, it was stated at a press conference organized by InterCapital. – At the end of last year, we initiated discussions about launching an insurance brokerage company to include this activity in the corporate structure because we believe that we can offer a more comprehensive service to our clients through this new activity – explained InterCapital Management Board member Tonči Korunić, adding that there is a global trend for insurance to converge with the capital market.

The new company will be led by Ivica Vučetić, a long-time executive director of AON Croatia, the largest global and Croatian insurance broker, and Ivica Tomašić, who comes to the new position after many years of experience at Croatia Osiguranje. As Tomašić stated, it is estimated that the entire brokerage market in Croatia achieves only three percent of total premiums, while in EU countries the percentage of policies concluded through brokers is higher than 50 percent. – Currently, there are 27 registered insurance brokers in Croatia, while there are about 80 in Slovenia and more than 300 in Slovakia. Based on this, we believe that this activity has great potential in Croatia – said Tomašić. This year’s goals for the new company are to familiarize potential clients with the services that InterCapital Risk can provide, and they plan to soon reach the top 10 largest Croatian insurance brokers. – We want to make a shift in the awareness of insurance among our corporate clients – concluded Vučetić. (Amir Kulenović)