Bermuda-based multi-line insurer Argus has acquired Malta-based Millennium Insurance Agency.
Argus said that the purchase allows Argus Insurance Agencies Limited (AIAL) in Malta to further strengthen its existing commercial customer base, while growing its existing portfolio through new and complementary lines of business.
Alison Hill, chief executive officer of the Argus, said: “We’re excited about the opportunity to expand our footprint in Europe and to strengthen our relationships with our Maltese colleagues and clients.
“With this acquisition, AIAL continues to leverage the technical talent and industry knowledge of a global financial services organisation with total assets of $2.1 billion. It builds our business scale in Malta and allows us to establish new benchmarks, to leverage the strengths of the Argus Group’s global network and to consistently deliver valuable insurance solutions and customer service excellence to our clients.”