Argo Group International Holdings, a Bermuda based underwriter of specialty insurance and reinsurance products, has established a new insurance company in Malta, Europe, through its subsidiaries.
ArgoGlobal SE is the first insurance Societas Europeas (SE) in Malta which will operate as a platform for providing primary and excess insurance all through the European Union.
The new venture will be led by Mark Peeters, who served as chief underwriting officer of Argo’s professional lines business in Bermuda since 2009 prior to the current position.
"With its strong regulatory environment and the ease of doing business there, Malta provides an excellent base from which we can grow in this market," Peeters said.
"By creating this complementary insurance platform, we’re better able to respond to our clients’ evolving insurance and risk management requirements."
The new company will initially offer professional and management liability coverages targeting both private and public companies.
ArgoGlobal SE will also offer a full suite of directors’ and officers’ (D&O) products, including A side D&O wording for supervisory boards, professional indemnity, pension trustee liability, employment practices liability, crime and fidelity.