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Member, Beacon International Group, Ltd.
MALTALondon broker Jardine Lloyd Thompson P.L.C. is joining with a local insurer in Malta to offer captive management services.
JLT Risk Solutions (Malta) Ltd. is expected to begin operations during the first quarter. The office will be affiliated with local insurer Elmo Insurance Ltd.
"Establishing a captive management operation in a European domicile enables us to offer our clients the opportunity to operate captives with the ability to write business directly into the EU," said Nick Wild, head of JLT captive management and consulting in London. "It also allows us to capitalize on the growing demand in this space."
Malta has a handful of captives operating in the domicile and several general insurers that are structured like captives but, unlike captives, are allowed to write third-party business.