Colonnade Insurance SA was rated A- (excellent) for financial stability by the international rating agency A.M. Best
- 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 & Eastern Europe.
- Colonnade has more than 400 employees in Eastern Europe, with a premium income in excess of 100 million euros for this region.
- Colonnade operates through branches in the Czech Republic, Slovakia, Hungary, Poland, Romania, Bulgaria and its sister company in Ukraine.
- Colonnade is 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.
- Colonnade is dedicated to first class customer service and innovative products for commercial and consumer insurance solutions in Central & Eastern Europe.
- Companies operate on a decentralized basis, with empowered underwriting teams applying a focused underwriting strategy to their markets
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
Director Personal Lines
Director Asigurari de Bunuri si Riscuri Speciale
Manager de Risc
Director Departament Raspunderi Civile si Asigurari Financiare
Director Resurse Umane
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!
Panel of reinsurers
Colonnade’s underwriting capacity is comparable to that of Romanian market leaders. The company is reinsured by renowned global reinsurers that guarantee its strong financial stability.
Our reinsurers include these first-rate companies:
- Munich Re / AA-rating (S&P)
- Swiss Re / AA-rating (S&P)
- Scor / AA-rating (S&P)
- Hanover Re / S&P AA