IGI granted authority for European subsidary in Malta
Authored by IGI
International General Insurance Holdings Ltd. has announced that it has set up a European subsidiary in Malta to directly access business across Europe.
International General Insurance Company (Europe) SE (“IGI Europe”), a subsidiary of Bermuda-based International General Insurance Co. Ltd., has been granted licensing by the Malta Financial Services Authority (“MFSA”) and is authorized to begin writing business.
IGI also announced that Keith Mallia-Milanes has joined IGI as Chief Executive Officer of IGI Europe. Mr. Mallia-Milanes has more than 35 years of industry experience. Keith joins IGI from MAPFRE Middlesea, where his latest role was Assistant General Manager responsible for the the Technical & Operations Division that included underwriting, reinsurance, claims, policy issuing and product management. He previously held other senior management and executive roles within MAPFRE both in Malta and Italy, and before that with other leading Maltese insurance operators.
Reporting to Andreas Loucaides, Chief Executive Officer of IGI UK, Mr. Mallia-Milanes will be responsible for all aspects of IGI Europe’s operations as well as business development across European markets.
I am delighted to announce the launch of IGI’s European operation,” Mr. Loucaides said. “IGI’s footprint in mainland Europe, prior to the UK’s withdrawal from the European Union, was managed through relationships between our UK-based underwriters and London brokers. Operating from Malta presents a good business growth opportunity and will better enable IGI to service European clients. Under Keith’s leadership, we will continue to build out our European team and grow our portfolio in continental Europe.”
“IGI Europe is open and ready for business,” Mr. Mallia-Milanes said. “IGI has a well-established reputation as an agile and disciplined underwriter, and IGI Europe will deliver that focus and ingenuity to the European market.”
IGI Europe is authorised by the MFSA to write a full suite of IGI products and will exercise passport rights across the European Union (EU) and European Economic Area (EEA).
About IGI
Established in 2001, International General Insurance (IGI) is a global privately-owned specialist commercial insurer and reinsurer. Our vision is to be the company of choice for clients and brokers through market-leading service and our reputation for stable management and capital security.
A diverse and highly experienced team of underwriters operates our office in London. We also have offices in Dubai, Amman, Casablanca and Kuala Lumpur.
Our diverse portfolio of specialty lines includes Energy, Property, Construction & Engineering, Ports & Terminals, Financial Institutions, Aviation, Professional Indemnity, Political Violence, Legal Expenses, D&O, Casualty, Forestry and Treaty Reinsurance.
Standard and Poor’s upgraded our financial strength rating to “A- “, with a Stable outlook. A.M. Best rated the company A- (Excellent), with a Positive outlook, stating, “the revised outlook reflects IGI’s consistent record of very strong operating performance and the continuous improvement in its enterprise risk management framework.”
We take pride in providing proactive claims management, coupled with open communication, leading to the efficient handling of claims. We endeavour to act fairly and honourably in our relations with clients and brokers.