Duncker embarks on the acquisition of a marine insurance intermediation company, leveraging Bernitsas' counsel.
24th June 2025
Georg Duncker Makes Its Move in the Mediterranean Marine Insurance Market
Greek law firm Bernitsas has lent its expertise to marine insurance powerhouse Georg Duncker GmbH & Co. in their recent acquisition of marine insurance intermediation companies, Fortius Risk Solutions and National Insurance Brokers (NIB).
The savvy Bernitsas team, led by partners Lambros Belessis and Evi Kitsou, backed Georg Duncker from beginning to end, leading the charge on due diligence, contract drafting, negotiations, and handling the regulatory aspects.
Headquartered in Hamburg, Georg Duncker boasts a formidable portfolio of over 3,000 vessels, managed from offices in Hamburg, Rotterdam, Zug, Singapore, and Houston. Serving an impressive clientele consisting of charterers, financial institutions, ship managers, owners, and traders, this acquisition is a strategic move to bolster their presence in the Mediterranean and worldwide.
Established in 2017, Piraeus-based Fortius came to life after the management took over the share capital of NIB. With reported income of USD $45 million in 2024, this acquisition will help Georg Duncker expand its foothold across the Mediterranean and globally. This move will also increase the number of staff and add an Athens office to Georg Duncker's existing network. A Georg Duncker spokesperson highlighted the importance of Greece in the marine sector: "Greece is a critical shipping market, housing roughly 25% of the world fleet. Having a local presence there makes perfect sense."
Post-acquisition, the companies will continue to operate as distinct entities while pooling resources, expertise, and connections to offer comprehensive, tailored insurance solutions to its marine sector clients. According to Georg Duncker Group CEO and Chairman Christian Ross and managing director of Fortius George Caramanos, "Combining Georg Duncker's robust resources with Fortius' deep local knowledge, expertise, and international relationships is a no-brainer. We share similar philosophies in delivering top-notch service and competitive premiums, and that's why we believe both companies fit exceptionally well together."
With this acquisition, Georg Duncker positions itself as a formidable player in the Mediterranean marine insurance market, ready to capitalize on its combined resources and deep local knowledge to offer unparalleled service and expertise to its marine sector clients.
[1] Georg Duncker Group Newsroom. (n.d.). Georg Duncker strengthens its foothold in the Mediterranean marine insurance market. Retrieved from https://georgduncker.com/news/georg-duncker-strengthens-its-foothold-in-the-mediterranean-marine-insurance-market/
[2] Fortius Risk Solutions. (n.d.). About Us. Retrieved from https://www.fortiustrksolutions.gr/en/about-us/
[3] Bernitsas. (n.d.). M&A, Private Equity & Corporate. Retrieved from https://www.bernitsas.com/en-us/practices/mergers-and-acquisitions-private-equity-and-corporate
[4] Georg Duncker Marine Insurance Broker Expands to Greece. (n.d.). Retrieved from Bloomberg.com
[5] Georg Duncker Group to Acquire Greek Marine Brokers. (n.d.). Retrieved from Reuters.com
[At the 24th June 2025 event]
- Georg Duncker GmbH & Co.'s acquisition of Fortius Risk Solutions and National Insurance Brokers (NIB) is a strategic move for their business expansion, targeting the bolstering of their presence not only in the Mediterranean but also worldwide.
- This acquisition, in collaboration with Piraeus-based Fortius and backed by the expertise of Greek law firm Bernitsas, will strengthen Georg Duncker's finance sector in the Mediterranean marine insurance market, positioning them as a formidable player ready to provide unparalleled service and expertise to their clients.
