Atlas Group, JMFS inaugurate Birkirkara office

Atlas Insurance PCC Ltd, Atlas Investment Services Ltd and Jesmond Mizzi Financial Services officially inaugurated their new branch in Birkirkara's Psaila Street.

The joint branch is part of a strategic move which prom-otes the upcoming merger between AISL and JMFS and will provide a 'one stop shop' for the community which aims at increasing the choice and qual-ity of insurance and financial services products available in the area.

Atlas Insurance will provide a full range of personal insurance services such as motor, boat, home and travel as well as a claims service. Existing and potential clients of AISL and JMFS will be able to obtain investment advice on local and international bonds and shares besides a wide range of collective investment schemes.

Finance Minister Tonio Fenech said the insurance sector had grown six-fold since Malta's membership in the EU, with total premiums increasing from €116 million to €650 million.

This sector's success was mainly attributed to the opening of Malta's markets - 80 per cent of businesses in the insurance sector were geared internationally.

The accomplishment was also boosted by Malta's membership of the Eurozone and a series of double taxation agreements.

JMFS managing director Jesmond Mizzi explained that the new branch was the first in a series of initiatives between Atlas and JMFS. The merged investment services company, Atlas JMFS Investment Services, will be jointly managed by Jean P. Gaffiero and Jesmond Mizzi. John Catania and Mark Azzopardi are executive directors. The 'one stop shop' concept was also being offered from the Atlas Insurance Paola branch.

Atlas Insurance deputy managing director Matthew von Brockdorff explained the new branch was Atlas' third in two years, and comes just six months after the opening of the branch in Żurrieq.

He added that the Birkirkara branch was an important step for the group to further strengthen its market penetration capabilities and create employment opportunities.

Atlas Group and its associate companies now employ 155 people and had a network of 60 tied insurance intermediaries.