The government has successfully negotiated with the Starr Group, one of the world's largest insurance groups which employs some 3,200 people, to relocate their European offices to Malta.

Prime Minister Joseph Muscat, along with his chief of staff Keith Schembri, is currently in New York, where Muscat is due to address the United Nations General Assembly on Friday.

In a statement, the Office of the Prime Minister said that, “With its operation in Malta, the Starr Group will be able to better penetrate the European markets,” especially Brexit.
 For Malta this agreement means that it will be placed even better on the map of major international insurance.

Malta is currently seeking to attract American business to the islands, and this latest deal is evidence that US companies see Malta as a small but flexible jurisdiction.

"This investment by the Starr Group is a solid vote of confidence in our economy and our country," Muscat said.

Starr President Bertil Lundqvist expressed his satisfaction for the excellent way in which the investment process progressed.  .

"We were very comfortable with the choice of Malta. We believe that it is really the place where we should be," he said.