News Details

New life insurance company in formation

11/06/2019

New life insurance company in formation

 

APS Bank plc, Atlas Insurance PCC Limited, GasanMamo Insurance Limited and MaltaPost plc announce that they have entered into an agreement to form a limited liability company for the purpose of carrying out the business of life insurance. The equity of the company shall be held equally amongst the four promoters.

The project has been introduced to the MFSA and the application process is expected to start shortly. Subject to all regulatory authorisations being forthcoming in due course it is anticipated that the new insurance undertaking should become operational in 2020.

Marcel Cassar, APS Bank CEO, commented: “We are excited about this development which comes in the wake of our business growth of recent years and the opportunities we see for the future. With our esteemed partners we want to grow this venture into a strong market player that will benefit the community at large.”

Further announcements about this project will be made in due course.

 

 

 

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