Jardine Lloyd Thompson Limited has joined up with Elmo Insurance to launch a new captive management operation in Malta, JLT Risk Solutions (Malta) Limited. The company is expected to become fully operational during the first quarter of 2007.
Nick Wild, head of JLT Captive Management and Consulting, said: “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. It also enables us to capitalise on the growing demand in this space.”
“We have found an excellent and well-respected partner in Elmo,” he added, “and in working in partnership with their management, senior underwriters, claims staff and accounting executives, we will be able to attain an immediate and substantial presence.”
David Bartoli, joint managing director of Elmo, said: “The board of Elmo is delighted to be teaming up with JLT, one of the world's leading insurance brokers, captive managers and risk management advisers. We look forward to a long and beneficial partnership with an important and international company, building on the opportunities that the MFSA had developed in Malta for captives.”