Acquisition Island Insurance
Brokers by Argus Group of Bermuda completed
Further to our previous public announcement, we are pleased to confirm
that regulatory approval has been obtained for Argus Group of Bermuda to
acquire all the shares of Island Insurance Brokers Limited, and the deal was
concluded on 1st July 2016.
This change in shareholders will not affect the operation of Island
Insurance Brokers Limited, which will continue to be managed by the same executive
directors, senior management team and all the staff currently in the employment
of the company and from the same office premises in Birkirkara.
As one of the leading insurance broker in Malta, Island will continue
to offer the same high quality value added service to its clients in a
professional, independent and cost effective manner, with the prime focus being
the client's interest in mind.
Very shortly the new shareholders will be increasing the company's
share capital to €1,000,000 offering us the possibility to continue to invest
in the services provided, staff training and development and future expansion
plans in the insurance broking field. Both of us will continue to lead the company as executive directors
and are looking to grow this company further. We hope to be able to meet you soon.
Lawrence Pavia - Managing Director
Carmel Cascun - Executive Director
Link to letter