Argo Group International Holdings, a Bermuda-based underwriter of specialty insurance and reinsurance products has opened a new insurance company, Argo Global Societas Europeas (SE) in Malta.

The newly established Argo Global SE will operate as a domestic insurer and will offer primary and excess insurance throughout the European Union.

Argo said its new unit will initially offer professional and management liability coverages that will target both private and public companies.

The product suite to be offered by Argo Global SE in Malta will consist of full suite of directors’ and officers’ products, professional indemnity, pension trustee liability, employment practices liability, crime and fidelity.

Argo’s professional lines business in Bermuda chief underwriting officer Mark Peeters, who will head the new unit, said the company is eyeing growth in the professional lines market in Continental Europe.

"By creating this complementary insurance platform, we’re better able to respond to our clients’ evolving insurance and risk management requirements," Peeters added.