Lloyd’s broker drives European expansion with Malta launch

Independent  Lloyd’s of London broker Servca has launched an office in Malta to spearhead the expansion of its European business.

Servca specialises in non-standard medical, financial and professional lines insurance.

With passporting rights to all 28 EU countries, complete with  Lloyd’s Brussels access, the company is now able to cover all lines of casualty insurance within Europe, supported by partner brokers.

Nomaan Jamal, chief executive officer of Servca Group, said: “The future opportunities to expand and grow our business in Europe from a base in Malta are very exciting. 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.”

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.”

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