Matrix SA: Subsidiary in Turkey, and expansion in Cyprus and Scotland

Specifically, Mr. Martin Gavigan, based in Glasgow and serving as Director – UK Business, has taken on the development of operations in the United Kingdom (excluding the London market). With 25 years of experience, Mr. M. Gavigan has served as Regional Development Director of Catlin Insurance Company [UK] Ltd, Glasgow, while for 8 years he was Class Underwriter – PI for the operations of the same company in Scotland and Northern Ireland. Prior to Catlin, Martin Cavigan served as Regional Broking Director, FinPro Division at Marsh.

At the same time, Mr. Christos Ieronymidis, former reinsurance manager of CNP Insurance and among others, a founding member of the Insurance Institute of Cyprus, has joined the dynamic team of Matrix Cyprus as Senior Broker. Mr. Ieronymidis, with a legal background, 28 years of experience in responsible positions in the local market, and significant experience in Bancassurance, will further strengthen the company’s operations in Cyprus and will contribute decisively to issues of innovation, training, and automation.

Finally, led by Mr. Gokhan Cengiz Bozkurt, MATRIX Insurance & Reinsurance Brokers is moving forward with the establishment of a subsidiary in Turkey. Based in Istanbul, Mr. Bozkurt (M.A. in Business Administration, Istanbul University – Major in Accounting & Auditing), having served among others as General Manager of Reinsurance at Nasco Karaoglan France Liaison Office Turkey and for many years as Deputy General Manager of Is?k Sigorta A.S. and Aon Re Turkey, aims not only for Matrix’s penetration into the large and very interesting Turkish market but also for the expansion of operations in the geopolitical sphere of influence of the neighboring country.

Commenting on the developments, the CEO of MATRIX Mr. Dimitris Chesmetsoglou emphasized among other things: “The dynamic, yet simultaneously rational course of MATRIX over the last three years is reflected both in its results – turnover and profitability, which by the end of 2013, according to our forecasts, will exceed €9 million and €3.5 million respectively – and in the trust of its clients, which translates into a market share exceeding 57% of the reinsurance premiums of the Greek private insurance market.

In this context and with a focus on the emphasis placed on innovation and value-added services that we reserve for all our clients regardless of size, MATRIX today serves as a magnet for experienced, specialized, and recognized executives, who will play a catalytic role in the further expansion and evolution of our operations both geographically and quantitatively. Specifically, the recent alignment of Messrs. Gavigan, Ieronymidis, and Bozkurt with the company’s goals and strategy is proof of the correctness of our choices and the significant position we hold – for which we were recently awarded – as specialized, innovative, and customer-centric brokers in the international reinsurance community.”