Colonnade Insurance S.A. specializes in non-life insurance, which is designed not only for individual clients, but also for small and large businesses. We are part of the multinational financial group Fairfax Financial Holdings, one of the world leaders in insurance and reinsurance.
- In 1991, the Slovak Investment Insurance Company (SIP, a.s.) was founded.
- In 1993, SIP, a. s. became a universal insurance company.
- In 1999, we transferred to the Australian insurance and reinsurance company QBE International Insurance Limited.
- In 2014, QBE Group left the markets of Central and Eastern Europe.
- In 2014, the QBE portfolio (SK, CZ, HU) was taken over by the Canadian insurance and reinsurance group Fairfax Financial Holdings.
- In 2016, we transitioned to the Colonnade Insurance S.A. brand, which is part of the multinational financial services company Fairfax Financial Holdings.
- In 2017, we acquired the insurance assets of AIG Europe Limited.
Why choose Colonnade?
- Our products and services have been recognized multiple times with the highest possible SIBAF® Award.
- We hold an A- (Excellent) financial strength rating from A.M. Best.
- We achieve gross written premiums in non-life insurance of more than €24 million (+30%).
- We insure more than 55,000 clients and handle 4,500 claims annually.
- We specialise in property and liability, travel and accident insurance and car insurance.
- We have a wide range of products for both individual clients and businesses.
- We have our own claims handling with an individual approach.
- We employ more than 90 professionals.
Why choose our products?
- We are leaders in EuroGAP and D&O management liability insurance.
- We were the first to bring D&O insurance for individuals to the market.
- We were the first to bring data protection insurance (GDPR) to the market.
- We offer free risk management advice for our clients.
- We have the most advantageous personal accident insurance for people transported by motor vehicle.
About Colonnade Insurance in Central Europe
Colonnade Insurance S.A. (Colonnade) is a Luxembourg based non-life insurance company fully owned by Fairfax and established for a strategic expansion of the Fairfax insurance business in Central and Eastern Europe.
We are licensed to underwrite 17 of the 18 statutory classes of non-life Insurance (except Class 10 – Motor Vehicle Liability). Our licenses are extended to Freedom of Services for all EU member states. The company currently maintains and forecasts the maintenance of a strong solvency ratio, well above the required levels. Colonnade is supported by leading global reinsurers with strongest financial security led by, among others, Swiss Re, Hanover Re, Munich Re, BRIT, AWAC, Lloyd’s syndicate, AIG.
We operate through branches in Bulgaria, the Czech Republic, Hungary, Romania, Poland, Slovakia, and a subsidiary in Ukraine with the help of a team of more than 450 experienced specialists. We offer products for consumer and corporate clients and have an A- financial strength rating for three years. Our registered capital is EUR 9 500 000.
Branches operate on a decentralized basis but having strong internal culture where market practice leaders share their expertise cross-branch. The empowered underwriting teams apply a focused underwriting strategy to their markets.
- Peter Csakvari - General Manager
- John Ockenden - Chief Actuary and Chief Risk Officer
- Andras Sellyei - Chief Financial Officer
- Babette Chambre - Head of Compliance
- Julien Immelé - Head of Internal Audit
Board of directors
- Bijan Khosrowshahi - Chairman, Executive Director
- Jean Cloutier - Board Member
- Frederick Gabriel - Board Member
- Leo de Waal - Board Member
- Marnix Ernst Wielenga - Board Member
Fairfax Holding was established in 1985 and is now a strong international company listed on the Toronto Stock Exchange. Its portfolio consists of dozens of insurance and reinsurance companies offering life and non-life insurance, including business risk insurance.
The insurance and reinsurance division of Fairfax Financial Holdings
Fairfax Financial Holdings is one of the world's leading insurance and reinsurance companies. At Lloyd's, Fairfax was listed as the insurer with the 5th highest underwriting capacity in 2015, worth £1.38 billion (approximately €1.83 billion).
- In business risk insurance, Fairfax Financial Holdings ranked 8th in the ranking of US insurers and reinsurers.
- Globally, the US insurer and reinsurer Odyssey Re, which is part of
- Fairfax Financial Holdings, ranked in the top 20 largest non-life reinsurers.
- Canada's Northbridge is the fifth largest business risk insurer in the local market.
- Brit Insurance is one of Lloyd's leading insurers.
- In December 2016, Allied World Insurance became part of the FFH holding company.
- In 2017, the acquisition of AIG's offices in Latin America and Central and Eastern Europe was completed.
- 32 countries
- 140 profit centers
- 15 000 employees
- USD 19,1 billion premium in 2020
- Over 30 years of relations and expierience
Our guiding principles have been created to reflect our true nature. Our values therefore include:
- Honesty and integrity are essential in all our relationships and will never be compromised.
- We are results oriented – not political.
- We are team players – no “egos”. A confrontational style is not appropriate. We value loyalty – to Fairfax and our colleagues.
- We are hard working but not at the expense of our families.
- We always look at opportunities but emphasize downside protection and look for ways to minimize loss of capital.
- We are entrepreneurial. We encourage calculated risk taking. It is all right to fail but we should learn from our mistakes.
- We will never bet the company on any project or acquisition.
- We believe in having fun – at work!