Jardine Lloyd Thompson Limited has joined up with Elmo Insurance Limited to launch a new Captive Management operation in Malta, JLT Risk Solutions (Malta) Limited.

Approval to begin trading has been received from the Malta Financial Services Authority and 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.

“This is an exciting and important development for JLT’s Captive and Consulting Business. We have found an excellent and well-respected partner in Elmo 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.”

Elmo is a company with an international vision and a culture of underwriting, having represented Royal & Sun Alliance for over 60 years. In May 2004, Elmo assumed the portfolio of RSA and its established culture has continued.

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.”