New insurance from an established provider
Allcare Insurance Limited has been authorized by the Malta Financial Services Authority to transact all classes of Non-Life Insurance business as of January 1, 2013
The new insurer comes from a Group of Companies which includes Allcare Insurance Agency Limited, which has been operating in the local insurance market for over 25 years. The step to establish a local insurance company in its own right is testament to the company’s success to date.
“It was a natural progression for our business and this move will allow us to continue to build on our strengths and provides us with more control over our own destiny,” Allcare Insurance Limited’s Chairman Eric Schembri, said.
The new insurance company, Allcare Insurance Limited, received the authorization from the MFSA following a very rigorous authorization process. The company will be offering a varied range of insurance products including motor, home, travel, health, and pleasure craft. The Company will also be catering for all business, commercial, industrial and professional insurance requirements.
The company engaged Ramon Mizzi as Group Head, David Mallia as Chief Finance Officer and Joe Avellino as Technical Director. Judith Galea, previously Chief Executive Officer of Allcare Insurance Agency Limited has been appointed as Allcare Insurance Limited’s Chief Executive Officer. Simon Schembri has been nominated as Director of Corporate Service and Compliance Officer and Eric Schembri holds the position of company Chairman.