A new insurance company has been set up in Msida, taking its experience as an insurance agency to a higher level.

“It was almost two years ago that the shareholders of what was then the agency took the decision to set up an insurance company and act as a principal, and not continue to act as an insurance agency on behalf of other principals,” said chairman Eric Schembri.

“In the light of this important step, the company has taken on all the employees who were previously employed by the agency, and it has also increased the number of employees in view of the expected growth. Our insurance division today has around 75 employees and our plans are that this number will be increased as the business continues to grow,” he added.

“The market in which we operate is a very competitive one. We are nevertheless confident that as an insurance company we shall continue to grow on the strength of the service which we deliver to our customers.”

The premises were inaugurated by Prime Minister Joseph Muscat in the presence of other Cabinet members.

Allcare Insurance Ltd is authorised by the Malta Financial Services Authority to transact all classes of non-life insurance business.