RENOMIA strengthens its position within CEE and enters Latvia

19 January 2021 — Alexandra GUZUN
RENOMIA purchased a majority stake in R&D APDROSINASANAS BROKERS (R&D Insurance Brokers Ltd.), a local company based in Riga and strengthened its position within Central and Eastern Europe (CEE) as Latvia became the eighth European country in which RENOMIA has direct representation.

R&D is a Latvian insurance broker which provides services to both businesses and individuals and carries out a significant part of its business on e-commerce platforms. Thanks to this partnership with RENOMIA, clients of R&D Insurance Brokers will also benefit from the expertise and contacts of Gallagher, a brokerage company that has been a minority shareholder of RENOMIA since 2019 and is based in the United States.

Pavel Nepala, RENOMIA managing partner said: "We are excited about the agreement with R&D to jointly develop services for clients in the Baltic countries. We share the same values and vision with the R&D team. We appreciate R&D's modern approach, progressive thinking and experience in e-commerce and corporate insurance. RENOMIA's investments are moving in several directions: in developing the expertise and personal growth of our staff, in digitization, in the expansion of services, in great client experiences and, of course, in strengthening our position on the market. All in order to provide our clients with services of the highest level. Quality insurance programs and support during claims settlement are now enormously important for companies and individuals, we see this both in the Czech Republic and in all other countries where we operate."

Dainis Maldutis, one of the co-founders of R&D also commented: "We believe that the entry of an experienced and strong partner into R&D will be positively felt especially by our clients. We plan to accelerate the further development of our services both in the insurance of companies and in the field of e-commerce. In addition to the emphasis on superior client service, we are also connected with RENOMIA thanks to the commitment for digitization. The automation of processes is necessary but does not bring any added value to clients. However, thanks to this, the broker can focus more intensively on highly personalized solutions for his or her clients."

This entry into another European country follows a series of activities by RENOMIA in 2020, when it bought shares in several companies. It has also recently opened a unique International Broking Centre (IBC) platform that helps domestic and foreign RENOMIA clients with the placing of large and complicated risks abroad. RENOMIA is also dedicated to private insurance and in this segment invests heavily in technology and product development.

The management of the R&D Group will not change after the acquisition by RENOMIA and will continue to focus on the development of specific business activities.


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