GGW Group grows with balticfinance in Scandinavia

The Danish MGA balticfinance will become part of WECOYA UNDERWRITING, the umbrella brand for the MGA business of GGW Group, on 1 October 2023.

With offices in Copenhagen (Denmark), London (UK), Malmö (Sweden) and Flensburg (Germany), the fast-growing company operates throughout Europe and has over 20 years of experience in the European insurance market.

The core business includes workers’ compensation and motor insurance for small and medium-sized companies in Scandinavia. In addition, balticfinance internationally offers professional sports, private accident and event cancellation insurance.

All products are distributed exclusively through brokers or agencies. Numerous internationally renowned insurers act as risk carriers. At Lloyd's, balticfinance not only acts as a coverholder, but also as a Lloyd's broker via a separate company.

"We are delighted to have one of Scandinavia's fastest growing MGA as a new partner in our group. The dynamics, the young team and the excellent market access are an enrichment for us in terms of both capabilities and culture", Thomas Zimmermann, Managing Director of the GGW Group, sums up the advantages of the merger.

The companies also complement each other regionally: While balticfinance has a leading market position in Scandinavia, GGW Group is strongly represented in the DACH region, the Netherlands and Turkey.

The shareholders, management and all employees of balticfinance will remain on board. They will continue to execute the successful strategy of the company together with the new partner companies of GGW Group.