Fenech welcomes opening of Munich Re Malta subsidiary

Finance Minister Tonio Fenech today welcomed the opening in Malta of a subsidiary of insurance giant Munich Re, which was granted an MFSA licence to carry out reinsurance business last month. The minister had a meeting with Doris Hopke, chairman and...

Finance Minister Tonio Fenech today welcomed the opening in Malta of a subsidiary of insurance giant Munich Re, which was granted an MFSA licence to carry out reinsurance business last month.

The minister had a meeting with Doris Hopke, chairman and Konstantin Von Jagow, chief executive Officer of Munich Re Malta.

They explained that the Malta subsidiary will handle reinsurance of business from other Munich Re entities worldwide as well as the writing of selected third-party business.

Dr Höpke, who is senior executive manager at Munich Re, Munich, said the company was delighted that the creation of the new Munich Re subsidiary in Malta went so smoothly.

Munich Re has seconded four experienced employees to Malta. They are based in offices on the top floor of Development House in Floriana.

International Insurance Management Services, a Middlesea Group company, will manage Munich Re of Malta’s back office during the start-up phase.

Munich Re has a 19.9% shareholding in Middlesea Insurance.

Sign up to our free newsletters

Get the best updates straight to your inbox:

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.