French insurance group sets up in Malta
by di-ve.com - editorial@di-ve.comBusiness & Finance -- 10 November 2008 -- 10:35CEST
French insurance group April Group have announced the launch in Malta of Axeria Re Ltd, a fully-owned subsidiary, to write reinsurance business.
April Group is also in the process of setting up 2 insurance companies with the assistance of HSBC Insurance Management (Malta) Ltd. These new insurance entities will be utilised by the April Group as their base for pass porting insurance into other EU domiciles.
Set up in 1988 with headquarters in Lyon, France, April Group is a French insurance company with a turnover of over €600 million and a total headcount of 2,500 employees. The group is quoted on the Euro next Paris Stock Exchange.
Aerie Re is to act as the group’s reinsure, optimising risk retention within the group as well as attracting reinsurance business from other insurance companies. Axeria Re’s operation is physically located in Malta and the company employs local staff to administer its business from Malta.
Axeria Re CEO Dominique Godet said that what attracted Axeria Re to Malta was EU membership, the euro currency and the proactive stance of the Malta Financial Services Authority.
“April Group has been very impressed by the level of service we have received in Malta as well as the speed and efficiency of conducting business which has confirmed that we made the right choice in opting for Malta rather than other EU domiciles,” said Mr Godet.
Set up in 1988 with headquarters in Lyon, France, April Group is a French insurance company with a turnover of over €600 million and a total headcount of 2,500 employees. The group is quoted on the Euro next Paris Stock Exchange.
Aerie Re is to act as the group’s reinsure, optimising risk retention within the group as well as attracting reinsurance business from other insurance companies. Axeria Re’s operation is physically located in Malta and the company employs local staff to administer its business from Malta.
Axeria Re CEO Dominique Godet said that what attracted Axeria Re to Malta was EU membership, the euro currency and the proactive stance of the Malta Financial Services Authority.
“April Group has been very impressed by the level of service we have received in Malta as well as the speed and efficiency of conducting business which has confirmed that we made the right choice in opting for Malta rather than other EU domiciles,” said Mr Godet.