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Ενδιαφέρουσα συνέντευξη του Δημήτρη Τσεσμετζόγλου, Διευθύνοντα Συμβούλου της MATRIX, περιλαμβάνεται στο χτεσινό τεύχος (15 Σεπτεμβρίου) του περιοδικού MONΤE CARLO TODAY.

Με τίτλο "Οι ταραγμένοι καιροί φέρνουν ευκαιρίες" (Troubled times bring opportunities) ο κ. Τσεσμετζόγλου αναφέρεται στην αντασφαλιστική αγορά και στην πορεία της MATRIX στην Ελλάδα.

Διαβάστε τη συνέντευξη.

Troubled times bring opportunities

Looking for prospects in difficult conditions has served the Greek broker well, 
as Dimitris Tsesmetzoglou, CEO of Matrix Brokers, tells Intelligent Insurer.

What differentiates Matrix?

Matrix is not just another transactional broker. We strongly believe that our mission as a broker is adding value for all our partners—cedants and reinsurers alike. Having seen the evolution and changes in the reinsurance arena we have invested substantially in areas where we can make a difference, such as analytics and capital-motivated solutions.

In every geographical area we trade in we ensure that we have a clearly established competitive advantage which we base our strategy upon.

Other brokers have invested in these areas, what makes you different?

Our team combines knowledge and expertise in the key areas (actuarial, financial, legal, and accounting) required for structuring this types of solution. It is the very same team which negotiates with reinsurers and makes sure the client gets the best deal possible. This is an art as much as a science and the skills involved in such transactions are beyond any one trade as such.

Many other brokers claim that the solutions they find are unique for each of their clients but in reality they try to fit the client to the solution through customisation. For us customisation is not an end in itself. We are absolutely committed to creating economic value for our clients rather than customising one of the available off-the-shelf solutions.

What kind of skills do you need to do this?

We have a dedicated team of actuaries who provide the necessary analytical substrata for the efficient and in-depth examination of all opportunities. We understand and have deep knowledge of the business side which allows us to concentrate on the essential aspects of the transaction but without missing any of the details.

Within the group we have a company with financial analysts who have experience in major capital market restructurings of distressed assets as well as fund management. We aim to bridge capital markets and structured reinsurance in the new era that excess capital in reinsurers’ balance sheets and Solvency II are bringing.

You now have five offices, including one in London. What is your goal?

We started in 2006 from circa €0.9 million in fees and in 2014 we will be in excess of €10 million, with a steady profitability. We currently have 74 in our team and of course still trade in the vanilla lines of facultative and treaty which is where we started.

Being a Lloyd’s broker allows us access to all specialties and we are steering more towards that. We don’t have any geographic preferences as such. It’s rather about having a competitive advantage in what you do. You achieve this by finding the right people with the right skills. When we feel this is achieved and matches our strategy we provide the opportunity to driven individuals or teams and make it difficult for them not to take it up!

We are debt-free, private, flexible and open to any opportunities that may arise. We have experience in putting things successfully together and of course we are very lucky to have an active chairman in Graham McKean who has been a catalyst in achieving our strategic goals.

What’s the connection with Greece?

The company started in Greece and it is still the main engine room for our operations. You will understand that what Southern Europe has been through in the last three years, and Greece being at the forefront, has produced a number of challenging opportunities for us.

So far we have performed beyond our clients’ expectations having successfully completed during the same period capital-motivated structured solutions in excess of €600 million. We are not aware of any other transactions that our competitors have successfully completed in our area, and this gives us a unique edge.

What’s next for Matrix?

The Greek film director Michael Cacoyiannis, in one of his signature movies, has his protagonist say: “Boss, life is trouble. Only death is not. To be alive is to undo your belt and look for trouble.”

In our experience troubled areas only provide opportunities, and that’s what we will keep on looking for.

Dimitris Tsesmetzoglou is CEO of Matrix Brokers.
He can be contacted at: [email protected]