It might probably now reinsure shopper merchandise with life and non-life advantages
Malta-based Atlas Insurance coverage PCC has secured authorization for its UK department and expanded its non-life insurance coverage and reinsurance licenses to incorporate life reinsurance.
Cells underneath Atlas Insurance coverage PCC can now write non-life insurance coverage dangers instantly in each the European Financial Space (EEA) and the UK and reinsure life and non-life dangers.
The extension of Atlas’s license to cowl life reinsurance has led to the licensing of Atlas’s first cell that reinsures shopper merchandise with each non-life and life advantages.
Since its preliminary foray into the UK market in 2010, the authorization of the UK department post-Brexit signifies Atlas Insurance coverage PCC’s continued dedication to its UK companions and ensures uninterrupted service for present cells underwriting UK dangers, the enterprise stated.
UK corporations and insurance coverage intermediaries coping with UK dangers or purchasers will be capable to set up their very own protected cells. These cells can provide insurance coverage on to their prospects or insure their very own UK dangers.
“Our UK department marks our first bodily department exterior Malta; an thrilling milestone as we start celebrating our centenary. These developments are a testomony to our dedication to innovation and responding to rising wants of our worldwide prospects and companions,” Atlas CEO Matthew von Brockdorff stated.
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