About us
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.
Our milestones:
- 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 €30 million (+22%).
- 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:
- Munich Re / AA-rating (S&P)
- Swiss Re / AA-rating (S&P)
- Scor / A+rating (S&P)
- Hannover Re / AA- rating (S&P)
- VIG Re A+rating (S&P)
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 600 experienced specialists. We offer products for consumer and corporate clients and have an A- financial strength rating for three years. Our gross written premium is more than 262 million euro.
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.
Executive management
- Peter Csakvari - General Manager
- John Ockenden - Chief Actuary
- Andras Sellyei - Chief Financial Officer
- Natalia Nagornaia - Head of Risk Management
- Babette Chambre - Head of Compliance
- Julien Immelé - Head of Internal Audit
Board of directors
- Bijan Khosrowshahi - Chairman of the Board
- Jean Cloutier - Board Member
- Peter Csakvari - Board Member
- Frederick Gabriel - Board Member
- Leo de Waal - Board Member
- Marnix Ernst Wielenga - Board Member
About Fairfax
Founded in 1985, Fairfax Holding 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.
More information about Fairfax Financial Holdings Limited can be found here: www.fairfax.ca.
Our values
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!