Willis Group Holdings plc has opened a new office on the island of Malta, which it said is “to serve its growing captive and commercial insurance clients in the region,” an area that “has experienced substantial growth in the past year. The office is located at Development House on St. Anne Street in Floriana, just outside the Maltese capital of Valletta.
Willis’ Malta operation now has seven full time Willis associates based in Floriana, who will bring the services of the wider Group to bear on a growing portfolio of local clients. The official office opening took place on September 19th and the Chairman of the Malta Financial Services Authority, Professor Joe Bannister, attended as a guest speaker.
“The presence of a global insurance broker such as Willis is proof that Malta is a jurisdiction of repute with solid regulation,” Bannister stated. “The presence of Willis assumes great importance because it shows that Malta—now a Member State of the EU—is able to attract large multinationals to the island. The indications are that we are going to continue achieving this despite the economic and financial turbulence.”
Nigel Goodlad, Managing Director of Willis Management (Malta) Limited, commented: “We are now even better positioned to take our insurance company management business forward in an attractive EU location and modern office environment. Malta has a number of unique characteristics that make it an interesting location for our clients. The combination of the ability to write risk across the European Economic Area (EEA), an accessible regulator and a pleasant place to do business makes for an attractive business proposition.”
Malcolm Cutts Watson, Chairman of the Willis Global Practice – International, added: “Malta is an expanding financial services centre with close links to many European financial hubs enabling European organizations to easily set up their captives here. They are impressed by the business centric experience provided by Malta. This applies not only to captives but also third party underwriters writing commercial books of risk.”
Source: Willis Group Holdings