Firstbrokers

What Firstbrokers does

Firstbrokers Oy is a Finnish insurance brokerage firm founded in 1989, headquartered in Helsinki. The company operates as an independent intermediary between corporate clients and insurance providers, offering two core service lines: Business Insurance Services (corporate risk assessment, insurance audits, tendering, contract negotiation, and ongoing policy administration) and HR Insurance Services (employee benefits, social security consulting, expatriate arrangements, and international benefit solutions). The company does not develop proprietary technology products; its core competency is advisory-based brokerage delivered through professional sales consultations and a structured four-stage procurement process (Audit, Planning, Contracts, Administration).

The firm serves Finnish SMEs and subsidiaries of international groups, with over 1,000 companies served historically and 200+ under active management. Firstbrokers generates revenue through commissions from insurers for placed business, with custom quote-based pricing and multi-year contract structures. Its international reach across 110+ countries is enabled entirely through memberships in three global broker networks: WBN, Brokerslink, and Funk Alliance, rather than through owned international infrastructure. The company is privately held, led by CEO Jaava Myllyniemi, with 1-10 employees, and holds a FIN-FSA broker license.

Go-to-market is sales-led and relationship-based, relying on network referrals, industry conference participation, bilateral chamber of commerce partnerships (Germany, Estonia, Switzerland, UK), and professional referrals rather than digital marketing or marketplace channels. The company has no disclosed funding, no acquisition history, and operates as a stable, specialist micro-brokerage.

Name

Firstbrokers

Legal name

Firstbrokers Oy

Website

https://firstbrokers.fi

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

1–10 employees

Short description

Firstbrokers Oy is a Helsinki-based insurance brokerage firm founded in 1989, providing business insurance and HR insurance services to Finnish SMEs and international subsidiaries across 110+ countries via global broker networks.

Ownership category

akta.pro rank

Product category

Insurance Brokerage Services

NAICS

Insurance Agencies and Brokerages (52421), Insurance Agencies and Brokerages (524210)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ)

Keywords

• Insurance brokerage
• Risk management
• Employee benefits
• Corporate insurance
• Insurance consulting

Headquarters

HQ city

Helsinki

HQ country

Finland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Insurance Brokerage Commissions: Firstbrokers generates revenue through commissions from insurance providers for placing business with them. As an independent broker, they assess risks, compare insurance offers objectively, and build cost-effective insurance packages for clients, earning commissions from insurers for business placed.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Firstbrokers is an independent insurance brokerage firm providing corporate risk management, business insurance brokerage, and employee benefits services to Finnish SMEs and subsidiaries of international groups. The firm assesses client risks, compares and tenders insurance offers from multiple providers, negotiates contracts, and manages ongoing policy administration across 110+ countries through global brokerage network memberships.

Product overview

Firstbrokers is an insurance brokerage firm offering two core service lines: Business Insurance Services (covering corporate risk assessment, insurance audits, tendering, and ongoing policy administration across all industries in 110+ countries) and HR Insurance Services (covering employee benefits, expatriate arrangements, social security consulting, and international benefit solutions). These services are delivered through a structured four-stage procurement process (Audit, Planning, Contracts, Administration) and supported by global brokerage network memberships. The company operates as a traditional insurance broker, not as a software product platform.

Differentiator

Problem solved

Functional benefit

Products and services

• Business Insurance Services Comprehensive insurance brokerage services that map, analyze, tender, and manage all business insurance coverage needs across all industries globally. Includes corporate insurance audits, coverage planning, contract negotiation with multiple insurers, and ongoing administration for Finnish SMEs and subsidiaries of international groups.
• HR Insurance Services Employee benefit and human resources insurance services including social security consulting, expatriate assignments, VIP solutions, international assignments, High Net Worth Individuals (HNWI) coverage, claims management, and actuarial services in a global environment.

Quantifiable outcome

• Insurance coverage without gaps or overlaps, only protection based on real risks and specific industry requirements
• +2 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Twelve partnerships are on record, tiered core and minor.

• IEBA (International Employee Benefits Association)coreOthers · 1 January 2025IEBA is the world's leading association focused on international employee benefits, with over 900 members. Firstbrokers participates in annual conferences to stay informed on trends, challenges, and the future of employee benefits.
• Worldwide Broker Network (WBN)coreChannel Partner/ Reseller/ DistributorFirstbrokers is a member of WBN, the world's fourth largest insurance broker network. WBN connects over 150 top brokers in more than 100 countries with approximately $123 billion in revenue. Through this network, Firstbrokers provides comprehensive and consistent insurance and employee benefit services in over 110 countries.
• BrokerslinkcoreChannel Partner/ Reseller/ DistributorBrokerslink is a global network of independent brokers operating in over 130 countries with approximately $70 billion in revenue and over 45,000 professionals. Firstbrokers' membership enables clients to benefit from local expertise on a global scale while maintaining familiar personal contact and customer service.
• Funk Gruppe / Funk AlliancecoreStrategic or Co-development PartnerFunk Gruppe is a German family-owned company providing risk management, insurance brokerage, and pension consulting nationally and internationally. The Funk Alliance network combines local expertise with global resources. Firstbrokers participates in annual Funk Alliance conferences for networking and professional development.
• Finnish Insurance Brokers Association (Suomen Vakuutusmeklariliitto ry)coreOthersSVAM advocates for insurance brokerage companies and represents professional insurance brokerage activities in Finland.
• Finnish Risk Management Association (SRHY)minorOthersSRHY serves as a link and discussion forum for risk management professionals, companies, authorities, and other stakeholders in Finland.
• German-Finnish Chamber of CommerceminorGTM or Marketing PartnerPromotes economic relations between Germany and Finland, helping initiate new business between German and Finnish companies.
• Finnish-Estonian Chamber of CommerceminorGTM or Marketing PartnerAims to expand and diversify trade relations between Finland and Estonia, fostering cultural and economic interaction.
• Chamber of Commerce Finland–SwitzerlandminorGTM or Marketing PartnerPromotes economic and trade relations between Finland and Switzerland by offering networking opportunities, market information, and advisory services.
• The British and Commonwealth Chamber of Commerce in FinlandminorGTM or Marketing PartnerProvides Finnish companies with development services including strategic advice, access to financing channels, and export promotion to the UK and Commonwealth countries.
• The Helsinki Region Chamber of CommerceminorOthersRepresents businesses, advocates for better business conditions, provides training and networks, and promotes company growth, internationalization, and competitiveness in the Helsinki region.
• Federation of Finnish Enterprises (Yrittäjät)minorOthersThe largest central organization for businesses in Finland, advocating for entrepreneurs and SMEs.

Scale indicators4 records

Recent moves4 records

Expansion highlights5 records

Direct peers

• Aon Finland / Aon Nordic: Global insurance brokerage with Nordic/Finnish operations serving corporate and multinational clients with risk management and insurance placement — directly competes with Firstbrokers for the same SME and multinational subsidiary segments in Finland.
• Lockton Finland: World's largest privately held insurance brokerage with Nordic operations; competes with Firstbrokers for mid-market and large corporate insurance placements, particularly multinational subsidiaries.
• Howden Group (Nordic): International insurance broker expanding aggressively across the Nordics, serving mid-market and large corporate clients — competing for the same Finnish SME and multinational subsidiary segment as Firstbrokers.
• Funk Gruppe / Funk Alliance: German family-owned insurance broker and risk consultant and a named core network partner of Firstbrokers. Comparable operating model (independent brokerage, risk management, employee benefits) targeting similar corporate client base.
• Marsh Finland / Marsh Nordic (Marsh McLennan): One of the world's largest insurance brokers with established Nordic presence. Competes head-to-head with Firstbrokers for corporate risk and insurance programs, including multinational accounts requiring Finnish execution.
• Willis Towers Watson (WTW) Finland: Global insurance and reinsurance broker with Finnish operations serving corporate clients across risk management, brokerage, and employee benefits — directly comparable service mix to Firstbrokers.
• Söderberg & Partners (Nordic): Nordic-headquartered insurance and financial services group with strong presence in Finland, providing corporate insurance brokerage and employee benefits — direct competitor with similar SME/mid-market positioning.

Emerging players

• Acerta (Nordic Employee Benefits): HR services and employee benefits specialist with Nordic ties; competes most directly with Firstbrokers' HR Insurance Services line (social security, expatriate arrangements, employee benefits).

Broad incumbents

• Hub International Nordic: Large North American-headquartered insurance brokerage with international operations, overlapping with Firstbrokers on corporate insurance placement and risk advisory services.
• Arthur J. Gallagher (Nordic): Major global insurance brokerage and risk management firm with a Nordic footprint. Overlapping insurance brokerage capabilities but operates as part of a much broader portfolio of services.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Firstbrokers_
• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/firstbrokers-oy

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Firstbrokers