The pool, named Assurex Development Corporation (ADC), is an affiliate of Assurex, and is currently funded by regional US banks and insurers like CNA, Chartis and Chubb.

Using capital committed by the insurers and the banks, ADC provides assistance and low-interest loans to partners. In addition, the pool provides assistance in acquisition projects.

“Currently it can spend $85m a year, but we have plans to extend this amount,” Mr Nill said. He wants to find new insurance partners in the European market who also want to provide capital. Mr Nill believes it is attractive for German insurers to participate, as a competitive broker market brings them not just stability but often more profitable business.

“At the moment, an accounting firm is checking whether the legal conditions are compliant with the laws of Germany and other European countries,” Mr Nill said. “After that we plan to approach large insurers, probably in the first quarter of 2012.”

Another of Stefan Nill’s plans for 2012 is the business expansion of Leue & Nill’s newly founded reinsurance broker Safe Brokers Ltd. The broker specialises in Greek and Cypriot risks.

“Our Greek broker partners often ask us for help when they realise that regional insurers lack adequate capacity for larger corporate risks,” said Mr Nill. “We want to be an alternative for those who cannot afford the expensive cover from the London market.”

As a reinsurance broker Safe Brokers buys cover from Germany, Singapore, the UK and Switzerland—especially for corporate clients who do not find adequate cover for their plants and factories. Currently, seven specialists are employed in the region.

The new broker concentrates on industries such as construction, steel and metals, oil and gas and tourism. Despite the Greek debt crisis Mr Nill is not afraid that the economic circumstances could have negative effects on new business.

“There are the same corporate risks in Greece as in the rest of Europe,” he said. “European reinsurers are checking them and after that are not more reluctant to cover them than elsewhere.”

Although the broker is only a few weeks old it has already won several clients. “Currently we have a premium volume of €3m, our plan is to work profitably in three years time,” Mr Nill said. He also has other plans. “I do not exclude other foreign activities during the coming years.”

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