Fogg Insurance Agencies Ltd has rebranded as Argus Insurance Agencies Ltd, signalling the company’s further integration with the Argus Group. As part of the Argus Group , AIAL has access to the technical talent and industry knowledge of an international organisation with total assets of $1.9 billion.
Dr Vanessa Borg, Chief Executive of AIAL, said “Our organisation has been part of the Argus Family since 2010. This transition will further engage our employees creating a renewed sense of pride and an even closer bond with the Argus Group. Product development complimented by enriched service offerings will act as cornerstones of this new brand platform. We are thrilled to be affiliated to an international group, and this milestone marks the Argus Group’s continued commitment to further local investment.”
AIAL will continue to offer its existing portfolio of products and these will be enhanced with new product lines in the very near future. The presence of the Argus Group in Malta brings several benefits, including access to specialised expertise and knowledge of small jurisdictions and its experience working with the broader community on issues relating to health care, pensions and employee benefits.
Alison Hill, CEO of the Argus Group, said: “We are looking forward to further strengthening the relationship with our Maltese colleagues and customers. A large number of our clients have been doing business with us for many years and we assure them that AIAL will continue to match their expectations. Indeed, our company philosophy of ‘Our interest is you’ is something we believe in and are totally committed to.”
The decision to officially launch the Argus brand in Malta is also based on the group’s long term commitment to Malta and the further development of the insurance and financial services industries. “Malta is a great place to do business and we look forward to building an even stronger presence here in the future as we seek to develop Malta as a hub for our regional operations,” said Ms Hill.
Prime Minister Joseph Muscat this development reaffirms Malta’s attractiveness to the financial sector. Financial services account for 7% of our national GDP and this sector employs over 7,000 persons, said the Prime Minister, who noted that the insurance sector has registered an increase in revenue.
Dr Muscat said the government will push forward new centres of excellence but is still committed to helping the financial sector flourish. He also spoke on the pensions reform and said insurance companies are sure to take up the challenge of upcoming initiatives that will incentivise private pension schemes.