EUROLINK INSURANCE - PART OF THE GRAWE GROUP

On March 31, 2020, the ownership of Eurolink Insurance Inc. ​​Skopje was changed, making Grazer Wechselseitige Versicherung AG (GRAWE Group) based in Graz, Austria, the new owner of the company. With this change we have joined one of the most important international insurance institutions in the region of Central and Eastern Europe, which with its expertise, experience, stability and commitment will further strengthen our position in the domestic insurance market.
 
In order to clearly present this progress to the public, we are starting to upgrade the visual identity which now, in addition to the strong and recognisable brand Eurolink Insurance, also gets a clear indication of its belonging to the large family of the GRAWE Group. In the period that follows, the new visual identity will be gradually applied to all printed materials, distribution channels and Eurolink insurance outlets.
 
Eurolink Insurance will continue to operate as a separate company in the non-life insurance market. From now on, as part of a new large family with a long insurance tradition, we remain to be an important player in the insurance sector, a stable partner of the citizens and businesses and a company fully committed to its employees, customers and the community.
 
For all the details about the change in the ownership of the company, future plans and goals, you can find out more in the list of questions and answers that we have prepared for you.

“GRAWE Group continuously demonstrates courage to change and grow, and we achieve this through the growth of our own companies, but also through the integration of other companies in our Group. This is how we have managed to become an international group that employs over 4600 people in 13 countries in Central and Eastern Europe. The acquisition of Eurolink Insurance, one of the market leaders in the non-life insurance sector in the country, is another bold step by which GRAWE Group is strengthened and grows in the direction of fulfilling its strategic goal. At Eurolink Insurance we recognized a stable partner, someone with whom we share common values ​​and a mission to improve the quality of life by offering excellent insurance products, so I am convinced that together we will continue to shape the Macedonian insurance market.”

Dr. Othmar Ederer

Chairman of the Board, GRAWE-Vermögensverwaltung and Independent Member of the Supervisory Board at Eurolink Insurance 

“We have invested a lot of effort and commitment to build a stable and strong insurance company that will offer new quality to the non-life insurance market. Primarily the very interest of the GRAWE Group, and later the finalization of the company’s acquisition process is a proof that we have succeeded in our mission. Eurolink Insurance is a recognizable and strong brand. The company has invested a lot in the community, in product development and in building long-term relationships with customers. Thus we remain to function as a separate entity, which is why the Eurolink logo remains, but we are reinforcing it with clear indication that from now on we are part of the GRAWE family. Eurolink Insurance is now backed by a powerful insurance group and with that the plan is to become even stronger for the benefit of all our clients.”

Marija Tomeska, MSc.

President of the Management Board at Еurolink Insurance

Frequently Asked Questions

1. Is Eurolink Insurance now solely or partly owned by the GRAWE Group?

As of March 31, 2020, Eurolink Insurance became solely owned by the GRAWE group, taking over 100% of the company’s shares.

2. Will the name and logo of Eurolink Insurance change?

The Eurolink logo, which is characterised with very high brand awareness and excellent reputation, will be reinforced with “Member of GRAWE Group”, which is placed under the Eurolink printout. This clearly highlights the new owner of Eurolink Insurance, but retains the logo.

3. Are there any changes for Eurolink Insurance policyholders?

The changes in the ownership structure of Eurolink Insurance has no implications for the clients as well as for the current or future policies. The conditions continue to apply to all insurance classes for which Eurolink offers policies. Over the next few months, all printed materials, including policies, will gradually be branded with the new logo, in accordance with the adopted amendments, which will not affect the validity of the previously distributed materials and policies.

4. What are the benefits for Eurolink’s clients?

Eurolink insurance policyholders get an even stronger and more stable partner for their safety. Being part of a group that has over 190 years of experience in the insurance business means gaining support in all processes of importance to our clients. We can expect the processes to improve and together we can be even better and even stronger, all for the benefits of our clients.

5. What are the future plans of Eurolink Insurance, as a member of the GRAWE Group?

Eurolink Insurance will continue to realize its mission in the community, aimed at improving the quality of life by providing financial security for individual and business clients. New products, improvement of the claims process and payment as well as improved offers are at the focus of the following period.

6. What is the connection between Eurolink Insurance Inc. Skopje and GRAWE Insurance Inc. Skopje?

Eurolink Insurance Inc. Skopje and GRAWE Insurance Inc. Skopje become sister companies, part of the same Group. However, both companies continue to operate as separate legal entities.

7. What is the history of GRAWE Group?

“In the harmony of many lies the strength, which results in good. It is the task of every one to contribute to it.” Archduke Johann, 1846
Archduke Johann recognized that in order to be strong one must unite, and founded the Grazer Wechselseitige as a mutual insurance association. On 14 July 1828, the preparations of many years conducted by Archduke Johann, were finally crowned with success and the founding of the “k. k. privilegierte innerösterreichischen Brandschaden-Versicherungs-Anstalt für Steiermark, Kärnten und Krain” (Imperial and Royal privileged central Austrian Mutual Fire Damage Insurance Company for Styria, Carinthia and Carniola) by an Imperial Decree was authorized. This laid the foundation stone for the Grazer Wechselseitige – a success story, which has already lasted for more than 190 years.
What then began as a provincial insurer with a pure Austrian connection has since developed over the years and is today an international group of companies in Central and Eastern Europe. GRAWE Group is one of the largest Austrian insurance groups with an annual premium exceeding 950 million Euro and a sum of insurance contracts amounting to about 4.6 million in the entire group. The kindness, guidance and adaptability of Grazer Wechselseitige Versicherung AG products are a guarantee of international quality that complies with local insurance laws.

8. Are there other insurance companies that are similarly part of the GRAWE Group?

Yes, in the region the GRAWE Group has taken over other strong insurance companies, which from a local recognisable brand have become part of the big family of GRAWE. Some of these companies have been completely re-branded over time, and some of them have strengthened their brand in the same way that Eurolink Insurance did.

Base of grawe group's success

Growth

“Reliable insurance cover for all” was Archduke Johann’s motto when he founded the Grazer Wechselseitige in 1828 as a fire insurance company. Now GRAWE developed into a multilateral and international company uniting insurance companies, banks and real estate. The GRAWE Group – that is grown strength.

Stability

The combination of a healthy economic base and GRAWE’s history, steeped with tradition, forms a stable foundation for the company’s 4,700 employees, who jointly represent GRAWE’s pool of knowledge and competences and guarantee the highest level of benefit to our customers.

Networking

Far reaching – and close-knit – this accurately describes GRAWE’s philosophy. As Austria’s fifth largest insurance group, with branches in more than 13 Central and East European countries, we unite countries and people, banks and insurance companies into a dense network. Regional requirements and peculiarities are provided for equally within this network as global financial services.

Trust

The best measure for customer satisfaction is recommendation. And, because life has many beautiful sides to it, GRAWE can certainly be proud to have won the “Recommender Award” thirteen times in the past fourteen years – an award which is given exclusively on the basis of recommendations by satisfied customers.

Dynamism

Where development potential is utilized and promoted, the future becomes a positive challenge. If you always want to be up-to-date, you need to look forward, open up perspectives and act at the right time. Under these conditions, the future and optimism merge to create a dynamic and simultaneously stable whole.

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