The Argus Group has just announced its intention to acquire FirstUnited Insurance Brokers Limited, an insurance brokerage firm that provides professional insurance broking services to individuals and businesses in Malta. The transaction is subject to receipt of all regulatory approvals

For many years, the Argus Group has successfully operated independent brokerage and insurance companies in Bermuda, Gibraltar and most recently in Malta, inclusive of Argus Insurance Agencies Limited and Island Insurance Brokers Limited. This latest acquisition is part of Argus’s strategic intent to diversify and expand its global business operations outside of Bermuda. Adding FirstUnited to the Argus Group strengthens its international presence and expands its existing broking capabilities in the Maltese market.

Alison Hill, Argus Group CEO said: “I’m delighted to announce that Argus is acquiring FirstUnited to help broaden our global footprint. The market leading reputation of FirstUnited’s client centric culture, technical and employee benefits expertise and service excellence align very strongly to the Argus brand, making FirstUnited a very natural fit with the Argus Group.”

Salvino Mifsud Bonnici, FirstUnited chairman said: “Joining the Argus Group is a positive step for our company. The size of Argus means that FirstUnited will benefit from access to global financial services professionals, technology and resources, including a strong regulatory, governance and compliance regime, enhanced internal business processes and best practice procedures that will improve our client offerings.”

Hill added: “We value the contribution that FirstUnited will bring to the group. Under the terms of the acquisition, FirstUnited will retain its name and continue to operate independently from other Malta-based businesses within the Argus Group. FirstUnited senior management will continue to lead the company, operate from their existing office location and retain the FirstUnited brand. FirstUnited employs 25 people and there are no planned redundancies as a result of the acquisition.”