Top 10 Specialty Insurance Companies in Europe - 2024

The rising exposure of businesses to varied and complex risks across different jurisdictions is driving the need for specialty insurance to handle legal, regulatory, and cultural differences in risk management. A key development reshaping the specialty insurance market is expanding cyber insurance and digital risk coverage. Insurers are innovating to cover a broader range of digital risks, including ransomware, data breaches, and operational disruptions due to cyber incidents.

This advancement is particularly relevant as companies adopt more digital and cloud-based solutions, increasing their vulnerability to cyber threats. AI and machine learning are also revolutionizing the specialty insurance landscape by enhancing risk assessment, claims processing, and customer service.

In addition, there is an expansion of parametric solutions beyond traditional areas into domains like business interruption and climate-related risks, providing quicker and more transparent claims processes. The specialty insurance market is also expanding its focus on niche lines such as marine, aviation, and energy insurance. With these risks' increasing complexity and magnitude, there is a growing reliance on reinsurance to manage exposure and maintain financial stability. Sustainability and ESG considerations are further increasingly influencing underwriting and investment decisions. Insurers are developing new products to support renewable energy projects and incentivize sustainable practices.

This edition, Specialty Insurance 2024, showcases Europe's leading specialty insurance companies committed to providing clients with effective and feasible insurance solutions. Varsam Försäkring, whose model balances human touch and technology interventions, is among the featured companies.

The magazine also features the expert perspectives of Marina BIllinge-Jones, Group Insurance Manager, Severn Trent [LON: SVT], and Ignacio Gámez Sainz, Head of Claims, Prima. These esteemed professionals share their invaluable insights concerning the industry's development, challenges and possible solutions. We hope these valuable insights from industry leaders featured in this edition will assist you in making informed decisions for your businesses.

Specialty Insurance Europe | Insurance Business Review

Specialty Insurance Europe - 2024

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Varsam Försäkring

Varsam Försäkring, a leading insurance distributor, is transforming the insurance industry with an innovative business model that distinguishes it from the rest. It sells every policy by carefully considering their distinct circumstances and needs and ensuring comprehensive coverage.

Like a speedboat, capable of moving very fast, we keep pace with the changing trends and promptly adjust products or pricing

Roger Holmgren, CEO
Varsam Försäkring

Varsam Försäkring, a leading insurance distributor, is transforming the insurance industry with an innovative business model that distinguishes it from the rest. It sells every policy by carefully considering their distinct circumstances and needs and ensuring comprehensive coverage.
Like a speedboat, capable of moving very fast, we keep pace with the changing trends and promptly adjust products or pricing

Roger Holmgren, CEO,..
BAVARIA AG

Since its inception in 1973 by Dieter Krautgartner, BAVARIA AG has been committed to fostering strong client relationships through a personal touch that transcends industry norms. Today, under the leadership of Krautgartner's legacy, it remains a frontrunner in traditional specialty insurance brokerage, setting new standards with its unwavering dedication to client satisfaction.

Central to our success are the core principles of reliability, personalization, and directness. These principles are not merely buzzwords but ingrained in the company's ethos, guiding every interaction and decision

Sandra Ahrabian, Chairwoman of the Supervisory Board
BAVARIA AG

Since its inception in 1973 by Dieter Krautgartner, BAVARIA AG has been committed to fostering strong client relationships through a personal touch that transcends industry norms. Today, under the leadership of Krautgartner's legacy, it remains a frontrunner in traditional specialty insurance brokerage, setting new standards with its unwavering dedication to client satisfaction.
Central to our success are the core principles of reliability, personalization, and directness. These principles are not merely buzzwords but ingrained in the company's ethos, guiding every interaction and decision

Sandra Ahrabian, Chairwoman of the Supervisory Board,.
Alandia

Alandia is an insurance company with focus on Marine, Cargo and Boat insurance. With 85 years of experience Alandia deliver swift and relevant service and marine insurance solutions that provide long-term security, reduce risk and resource utilization. They are strongly committed to be an accountable, progressive and committed insurance partner.
Alandia

Alandia is an insurance company with focus on Marine, Cargo and Boat insurance. With 85 years of experience Alandia deliver swift and relevant service and marine insurance solutions that provide long-term security, reduce risk and resource utilization. They are strongly committed to be an accountable, progressive and committed insurance partner.
ETU Forsikring

ETU Forsikring offers private and business insurance throughout Denmark, focusing on excellent customer experience and personal contact. Supporting numerous associations, clubs, and local activities, ETU Forsikring integrates community engagement into their marketing, helping sustain local sports and leisure interests where customers are active daily
ETU Forsikring

ETU Forsikring offers private and business insurance throughout Denmark, focusing on excellent customer experience and personal contact. Supporting numerous associations, clubs, and local activities, ETU Forsikring integrates community engagement into their marketing, helping sustain local sports and leisure interests where customers are active daily
Insuranceline

Insuranceline is an independent insurance agency specializing in services for non-Greek EU citizens living or working in Greece. They offer health, house, car, travel, and residence permit insurance to EU residents across the EU, ensuring comprehensive coverage tailored to expatriates' unique needs.
Insuranceline

Insuranceline is an independent insurance agency specializing in services for non-Greek EU citizens living or working in Greece. They offer health, house, car, travel, and residence permit insurance to EU residents across the EU, ensuring comprehensive coverage tailored to expatriates' unique needs.
IPB Insurance

IPB Insurance, wholly Irish-owned, is the sole indigenous mutual general insurance company in Ireland. Specializing in bespoke insurance solutions for public service, education, and health sectors, IPB is a leading liability insurer. They underwrite major liability, property, and motor risks for large public, semi-state, and private sector clients.
IPB Insurance

IPB Insurance, wholly Irish-owned, is the sole indigenous mutual general insurance company in Ireland. Specializing in bespoke insurance solutions for public service, education, and health sectors, IPB is a leading liability insurer. They underwrite major liability, property, and motor risks for large public, semi-state, and private sector clients.
Privatsikring

Privatsikring underwrites multi-line insurance. The company offers life, health, auto, property and casualty, boat, motorcycle, and many other lines of insurance to private and commercial customers throughout Denmark. The customers get access to an online doctor, solid coverage, good discounts, fast claims processing and compensation and active claims prevention.
Privatsikring

Privatsikring underwrites multi-line insurance. The company offers life, health, auto, property and casualty, boat, motorcycle, and many other lines of insurance to private and commercial customers throughout Denmark. The customers get access to an online doctor, solid coverage, good discounts, fast claims processing and compensation and active claims prevention.
Seguros Adell

Seguros Adell has been advising and managing the insurance needs of its clients for more than 30 years. Provider of nautical insurance services intended for pleasure boats, rental boats, professionals and the nautical industry. The company offers boat insurance, hull insurance, private, charter, commercial and professional p&i port and dry dock insurance.
Seguros Adell

Seguros Adell has been advising and managing the insurance needs of its clients for more than 30 years. Provider of nautical insurance services intended for pleasure boats, rental boats, professionals and the nautical industry. The company offers boat insurance, hull insurance, private, charter, commercial and professional p&i port and dry dock insurance.
The Swedish Club

The Swedish Club is a leading marine mutual insurer, offering a comprehensive range of marine insurance services globally. They are committed to providing additional services such as loss prevention, maritime resource management, and emergency response training, ensuring robust support and risk management for their clients worldwide.
The Swedish Club

The Swedish Club is a leading marine mutual insurer, offering a comprehensive range of marine insurance services globally. They are committed to providing additional services such as loss prevention, maritime resource management, and emergency response training, ensuring robust support and risk management for their clients worldwide.
Trust Insurance Cyprus

Trust Insurance Cyprus offers health insurance, marine insurance, and transport services. internationally. Combining a wealth of industry experience and expert knowledge, they operate in the fields of Insurance, Reinsurance, Reinsurance Broking, selected Real Estate Developments, Banking and World Trade Center operations.
Trust Insurance Cyprus

Trust Insurance Cyprus offers health insurance, marine insurance, and transport services. internationally. Combining a wealth of industry experience and expert knowledge, they operate in the fields of Insurance, Reinsurance, Reinsurance Broking, selected Real Estate Developments, Banking and World Trade Center operations.