Cromar - Lloyd's Best Coverholder Innovation

What Cromar - Lloyd's Best Coverholder Innovation does

Cromar is a privately held Greek insurance intermediary and Lloyd's Coverholder founded in 1999 and headquartered in Athens, with a secondary office in Thessaloniki. The company operates through two legal entities — Cromar Insurance Brokers SA (Cromar Μεσίτες Ασφαλειών Μονοπρόσωπη A.E.) and Cromar Underwriting Agency SA (Cromar Μονοπρόσωπη Ανώνυμη Εταιρεία Ασφαλιστικής Πρακτόρευσης) — both registered in Greece. Cromar holds binding authority agreements with Lloyd's, Tokio Marine Europe, AXA XL, CFC Underwriting, and Accelerant, enabling it to underwrite and issue insurance policies in the Greek market under top-rated international carrier balance sheets. The company is supervised by the Bank of Greece and audited annually.

The product portfolio is organized under the SECURE brand umbrella and spans four customer segments: individuals (home, expatriate home, immigrant health, personal accident), businesses (general liability, small business, hotels, contractors, business solutions), professionals (professional indemnity programs for insurance intermediaries, architects, engineers, tour operators, consultants, accountants), and specialized lines (cyber insurance via Cyber Secure Solution, technology companies, jewellers, intellectual property, fine art and collectibles). Technology assets include the proprietary SecureToolbox partner portal for intermediary contract management, Secure Checkout online premium payment, and the cyberinsurancequote.gr educational engine. Cromar is the only Greek company to have won the Lloyd's Market Innovation Awards Best Coverholder Innovation award (2016).

Cromar distributes exclusively through insurance intermediaries (brokers and agents) across Greece, supported by a dedicated partner service team, training seminars and webinars, and SecureToolbox. Revenue is generated through insurance premiums and commission-based compensation under coverholder agreements. The company manages claims through an in-house Claims Management Team that has handled over 2,500 cases in the past five years with an average payment time of 5 days. The company is led by founder and CEO John Croker and operates with approximately 16 employees.

Name

Cromar - Lloyd's Best Coverholder Innovation

Legal name

Cromar Μεσίτες Ασφαλειών Μ. Ε.Π.Ε. Ανταποκριτές των Lloyd's

Website

https://cromar.gr

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

11–50 employees

Short description

Cromar is a privately held Greek Lloyd's Coverholder founded in 1999, operating through two Greek legal entities and distributing specialty insurance products via intermediary brokers to individuals, SMBs, professionals, and technology companies in Greece under international carrier balance sheets.

Ownership category

akta.pro rank

Headquarters

HQ city

Marousi, Athens

HQ country

Greece

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Insurance Premium Revenue: Cromar generates revenue by underwriting insurance products as a Lloyd's Coverholder and through binding authority agreements with Tokio Marine Europe, AXA XL, and other insurers. Premiums are collected through the network of insurance intermediaries and direct channels.
2. Claims Management Services: Cromar manages and settles insurance claims on behalf of insurance companies under coverholder agreements. The experienced Claims Management Team has handled over 2,500 cases in the past five years with an average payment time of 5 days.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels4 records

Core offering

Cromar is a Lloyd's Coverholder and insurance intermediary that creates, distributes, and supports a portfolio of SECURE-branded insurance products adapted for the Greek market, underwritten by Lloyd's, Tokio Marine Europe, AXA XL, CFC Underwriting, and Accelerant. The company serves insurance intermediaries across Greece, providing underwriting, claims management, training, and digital tools including the SecureToolbox partner portal. Products span home, business, professional indemnity, cyber, technology, and specialty insurance lines.

Product overview

Cromar is a Lloyd's Coverholder and insurance intermediary founded in 1999, providing innovative insurance products and services adapted to the Greek market. The company operates through two entities: Cromar Insurance Brokers SA and Cromar Underwriting Agency SA. The product portfolio is organized under the SECURE brand umbrella, covering four main segments: (1) Individuals - home insurance (Secure Home, Secure Home Guard, Secure Home All Risks, Secure Home for Expatriates), health insurance for immigrants (Secure Medical), and personal accident (Secure PA); (2) Businesses - general liability (Secure General Liability), small business insurance (Secure Business, Secure Business Guard), hotel insurance (Secure Hotel), business solutions (Secure Business Solutions), and contractor's insurance (Secure C.A.R.); (3) Professionals - professional indemnity insurance for insurance intermediaries (Secure PI3), architects/engineers (Secure PI Architects & Engineers), tour operators (Secure PI for Tour Operators), business consultants (Secure PI for Business Consultants), and accountants (Secure PI Accountants); (4) Specialized Insurance - cyber insurance (Cyber Secure Solution), technology companies (Secure Tech Company), jewellers (Secure Jeweller's), intellectual property (Secure Intellectual Property), and fine art & collectibles (Secure Fine Art & Collectibles). Products are backed by Lloyd's, Tokio Marine Europe, AXA XL, Accelerant, and CFC Underwriting.

Differentiator

Problem solved

Functional benefit

Brands

• SECURE: Product line brand for insurance products including Secure PI3, Secure Home, Secure Business, Cyber Secure Solution, Secure Tech Company, Secure Jewellers, Secure Intellectual Property, Secure Fine Art & Collectibles, and other specialized insurance solutions.

Products and services

• Secure PI3 Professional indemnity program for insurance and reinsurance intermediaries covering risks from errors or omissions in service provision, including unique coverage for intermediaries' websites against cyber-attacks.
• Cyber Secure Solution Cyber insurance product providing third-party liability for data loss, security breach incident management, administrative fines coverage, business interruption, cyber extortion, and fraudulent money transfer coverage.
• Secure General Liability General liability insurance protecting against third-party risks from fault, negligence, and operation of premises for various business types.
• Secure Business Insurance program for small and medium-sized businesses covering risks affecting smooth operations, with specialized coverage for pharmacies, catering, gyms, and hair salons.
• Secure Business Solutions Tailored insurance solutions for business operations including property, civil liability, cyber, professional liability, D&O, transport, electronic equipment, and group insurance.
• Secure Tech Company Insurance product for technology companies covering professional liability for errors/omissions, intellectual property infringement, security breach incidents, and social engineering.
• Secure Jeweller's Block policy for jewelers covering stock and commodity insurance against burglary/theft, window breakage, and in-transit coverage for consignments.
• Secure Intellectual Property Insurance protecting companies' intellectual property assets, covering legal representation fees and damages for IP infringement incidents.
• Secure Fine Art & Collectibles Specialized insurance for art collections, sculptures, collector's books, jewelry, antiques, wines, coins, stamps, and museum/gallery coverage.
• Secure PI Architects & Engineers Professional indemnity program for architects and engineers covering claims from design, supervision, or service provision errors, including legal assistance and out-of-court settlement.
• Secure PI for Tour Operators Professional indemnity program for tour operators covering client claims, indirect/future financial losses, defense costs, and mediation/arbitration expenses.
• Secure PI for Business Consultants Professional indemnity program for business consultants covering third-party damage claims, defense costs, and legal investigation expenses.
• Secure PI Accountants Professional indemnity program for accountants covering third-party claims for errors/omissions, defense costs, client fines/penalties, and employee disloyalty.
• Secure Home Home insurance combining Lloyd's reliability with competitive costs, featuring complementary coverages like pet care, bicycle theft, and psychological family support.
• Secure Home All Risks All-risk insurance for high-value permanent or holiday homes with total insured capital over €300,000, offering pre-agreed rebuilding cost options.
• Secure Home for Expatriates Insurance for foreign nationals' permanent residences or holiday homes in Greece, with high general liability limits up to €2,000,000 and bilingual policy options.
• Secure Medical for Immigrants State hospital care program for foreigners in Greece without state insurance eligibility, meeting immigration law requirements for residence permits.
• Secure PA Personal accident program covering hospitalization, medical expenses, and financial protection for insureds and their families with tailored coverage options.

Quantifiable outcome

• Over 2,500 claims cases managed in the past five years with average payment time of 5 days
• +1 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered core, major, strategic and minor.

• Lloyd's / Lloyd's Insurance Company SAcoreStrategic or Co-development Partner · 1 January 1999Cromar has operated as a Lloyd's Coverholder since 1999, providing access to the world's top insurance market. Lloyd's Insurance Company SA (Brussels) is 100% subsidiary of Lloyd's with ratings of A (excellent) from AM Best, A+ (strong) from S&P, and AA- (very strong) from Fitch. Lloyd's provides binding authority agreements enabling Cromar to create and offer insurance products underwritten by Lloyd's syndicates.
• Tokio Marine Europe SAcoreStrategic or Co-development Partner · 1 January 1999Cromar maintains a 20-year partnership with Tokio Marine Group (previously Tokio Marine Kiln Lloyd's syndicate) for marine insurance products. Tokio Marine Europe SA (Luxembourg) is a subsidiary of Tokio Marine Group founded in 1879 with $38.5 billion market cap. Ratings: A++ (superior) from AM Best, A+ (strong) from S&P, AA- (very strong) from Fitch. The partnership enables distribution of marine insurance products to EU policyholders.
• XL Insurance Company SE (AXA XL)coreStrategic or Co-development PartnerCromar partners with XL Insurance Company SE, an AXA XL company headquartered in Dublin, Ireland, for professional liability insurance products. XL Insurance Company SE holds A (Excellent) rating from AM Best and is 100% subsidiary of AXA XL. Licensed to undertake general insurance business in the EU.
• CFC UnderwritingcoreTechnology or IntegrationCFC Underwriting provides specialized insurance products including technology company insurance, cyber insurance, media insurance, digital health services, FinTech insurance, and intellectual property insurance. CFC is a specialist Lloyd's-approved MGA providing coverage for emerging and complex risks.
• Accelerant Insurance Europe SAmajorStrategic or Co-development PartnerAccelerant Insurance Europe SA (Belgium, Company No. 0758.632.842) is supervised by National Bank of Belgium and regulated by FSMA. Rated A- (Excellent) by AM Best. Specializes in providing insurance solutions for general insurance products for businesses in the EU.
• SECONDO (European Programme)strategicStrategic or Co-development PartnerCromar is the only Greek insurance broker company participating in the SECONDO European Programme funded by the European Union. The programme connects cybersecurity with cyber insurance to help companies achieve optimal protection, involving EU universities and companies.
• Hellenic Cyber Security TeamminorGTM or Marketing PartnerCromar is a supporter of the Hellenic Cyber Security Team, an organization focused on cybersecurity initiatives in Greece.
• Hellenic Digital Health ClusterminorGTM or Marketing PartnerCromar is a member of the Hellenic Digital Health Cluster (HDHC), a Greek organization promoting digital health initiatives and innovation.

Scale indicators5 records

Recent moves10 records

Expansion highlights5 records

Broad incumbents

• AXA XL: AXA XL is one of Cromar's binding-authority partners for professional liability and provides the financial backing for several SECURE products. Operates as a global specialty (re)insurer with a product portfolio that directly overlaps Cromar's professional indemnity and specialty lines.
• Willis Towers Watson (WTW): WTW is a global insurance, reinsurance, and risk-advisory broker competing for mid-market and corporate placements in Greece and across Europe. Its specialty and professional-lines practice overlaps Cromar's PI and cyber distribution.
• Aon: Aon is a global insurance and reinsurance broker with broad specialty capabilities that competes for corporate and professional indemnity placements in the Greek market. Operates as both a competitor for placement business and a Lloyd's intermediary to large insureds.
• Marsh: Marsh is the world's largest insurance broker and risk advisor with an extensive specialty practice that competes for Greek and regional mid-market placements. Marsh's specialty Lloyd's-broker capabilities overlap Cromar's binding-authority distribution model.
• Howden Group: Howden is a global insurance broker with significant European and Lloyd's market presence that competes for intermediary and specialty distribution in the same regulatory environment. Has expanded aggressively in Southern Europe via acquisitions of regional brokers.
• Beazley: Beazley is a Lloyd's specialist insurer with deep exposure to cyber, professional indemnity, marine, and specialty lines — directly overlapping Cromar's core product areas. Operates at materially larger scale and serves as a Lloyd's syndicate counterparty to specialty brokers like Cromar.
• Hiscox: Hiscox is a Lloyd's-listed specialist insurer offering professional indemnity, cyber, and small-business insurance — comparable to Cromar's professional and SME product lines. Disrupts the same specialty distribution channels Cromar relies on, particularly in mid-market and professional segments.
• Tokio Marine Europe: Tokio Marine Europe is Cromar's strategic marine insurance partner (20-year relationship) and one of Europe's largest specialty insurers. Overlaps Cromar's marine cargo, liability, and professional indemnity segments at significantly larger scale.

Direct peers

• CFC Underwriting: CFC is a Lloyd's-approved specialist MGA offering technology, cyber, media, FinTech, and intellectual-property insurance — a specialty product set that directly mirrors Cromar's Cyber Secure Solution, Secure Tech Company, and Secure Intellectual Property lines. Operates through binding-authority distribution to intermediaries, the same model Cromar uses.

Regional players

• Interamerican: Interamerican is one of Greece's leading domestic insurers, providing general insurance to individuals and SMEs through proprietary and broker channels. The most direct domestic peer to Cromar in the Greek market — though its distribution model differs from Cromar's intermediary-only Lloyd's Coverholder approach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/cromar-insurance-brokers

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 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 Cromar - Lloyd's Best Coverholder Innovation