Independent international Lloyds of London broker, that specialises in non-standard medical, financial and professional lines insurance – Servca, has announced the opening of an office in Malta to help drive the expansion of its European business.
By having passporting rights to all 28 countries within the EU, complete with Lloyd’s Brussels access, the broker is able to cover all lines of casualty insurance within the EU, supported by strong partner brokers.
With roots dating back to 2011, Servca specialises in arranging bespoke cover for professional organisations and individuals, whilst representing a number of organisations such as Medical Associations, British Insurance Brokers’ Association (London, UK), Wellness Medical Protection Group (Chicago, USA) and regulated insurance intermediaries.
Servca’s Malta office is headed up by Andrew Magri, Business Development Manager, and Ian Zammit, Executive Director, both of whom will report to Noah Jamal and Dr Edwin Rajadurai as Managing Director.
“The future opportunities to expand and grow our business in Europe from a base in Malta are very exciting,” said Nomaan (Noah) Jamal, Chief Executive Officer of Servca Group.
“The island has a high concentration of domiciled European corporates as a result of an attractive tax regime and business-friendly eco-system with a particular focus on emerging risks such as technology, financial institutions, e-gaming/sports and medical technology which complements our areas of specialist knowledge.
“The region is largely under-served for a client-centric specialty wholesale broker to deliver bespoke insurance solutions to retail brokers in the Mediterranean. We are very grateful for the support of our local service providers, MFSA, Lloyd’s Brussels and broker-clients. We look forward to increasing our market share in post-’Brexit’ Europe and realigning with our European broker-clients.”
Tonio Borg, Director at Mediterranean Insurance Brokers, commented: “We are delighted to be working with a specialist such as Servca for the placement of our European specialty business. Following on from successful meetings with Noah and the European team, we look forward to working with Servca in developing a successful trading relationship.”
Ramon Mizzi and Eric Frantz, Directors at AIB Insurance Brokers, said: “As an established independent commercial insurance broker, we are excited to have the expertise and technical knowledge of Servca in Malta to help us place non-standard risks into the London market and Lloyd’s Europe.
“Also being independent, we are minded to support independent partners, as our ethos and interests are aligned. The partnership with Servca will solve inherent placement challenges that we have long faced as the Maltese economy continues to grow and attract international businesses positioning themselves in Malta.”
Terry Dunne, Director at First Ireland, also added: “Having worked actively with Servca pre-Brexit, we know that they are highly technical and a safe pair of hands in the placement of specialty Casualty business. We look forward to working with them once again in the growth and development.”