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EFM Versicherungsmakler is entering into a joint venture with global brokerage firms Martens & Prahl and Söderberg & Partner, subject to antitrust review. We asked EFM founder Josef Graf about the background to this merger.
Mr. Graff, Important changes are imminent at EFM following the Board’s expansion. Can you explain to our readers how you got in touch with my international brokerage firm?

Joseph Graf: In the past seven years, we have come to know and appreciate each other. During this time we were able to discover many similarities. Our companies are family businesses with many years of experience in the insurance brokerage field. As the two joint venture partners have a sustainable and long-term business orientation, they fit perfectly with EFM’s corporate philosophy.
With the expansion of the Board of Directors – Willie Brandstätter, Peter Schernthaner and Rainer Pulchtner form the new three-member Board of Directors – we have created the necessary framework for this joint venture and future developments.

How big are the two companies and how long have they been in the brokerage field?

Number: Martens & Prahl is a German company headquartered in the Hanseatic city of Lübeck, which was also founded there in 1898. They employ about 900 people, own shares in more than 90 commercial and industrial brokers and generate sales of about 110 million euros. The group is one of the top five insurance brokers in Germany, and today, Söderberg & Partner is one of the leading consultants and brokers in insurance and financial products in Northern Europe. The company was founded in 2004 and has shares in nearly 400 brokerage firms in nine countries. With 3,000 employees, the group generates around 640 million euros in commission volume. In addition, Söderberg & Partner, like us, has experience in the franchise sector.

You can read more about this in the next issue of risControl Print.