Noel Grima

On 1 January, Elmo Insurance's general manager Lino Ferris retired from his position and was succeeded by two general managers, younger people who have been working with the company for many years: Chris Cuschieri and Anthony Cauchi.

Elmo was formed as a result of a merger in 1981 between C&H Bartoli and Cassar & Cooper, two local agents for UK insurance principals Sun Insurance and London Assurance. Sometime after these two companies merged and formed Sun Alliance, their agents in Malta decided to merge as

Both in its antecedents and in its recent history, Elmo has dug its roots deep in Malta's insurance sector. In 2004, Royal Sun Alliance pulled out of Malta and on 1 May 2004, with Malta's accession to the EU, Elmo became a fully-fledged local insurance company regulated by the MFSA, with all the legal obligations this entails.

Mr Ferris, who had been Administration Manager, became General Manager on 1 September 1996. By the time of his resignation, he had worked for the company for 23 years, living through all these changes. Prior to this, Mr Ferris worked for the C & H Bartoli Sun Insurance Agency.

In 1982, the company employed 20 staff: it now has 90. It has eight branches around Malta including a number of tied insurance intermediaries.

Elmo's board, together with Mr Ferris, have long planned a seamless transition. Mr Ferris will not be severing his relations with the company: on the contrary, he will be retained on a full-time basis as a consultant. Furthermore, since he is the current president of the Malta Insurance Association, he will retain this position until the end of his current term. With Mr Ferris' departure, the senior management positions in the company will have been changed, but his valued experience will be retained.

Anthony Cauchi has been with the company for 20 years and during this period he studied for his Associateship of the Chartered Insurance Institute (ACII). He has worked in various departments in the company, with his last position being Senior Manager Claims. In 2011, Mr Cauchi began reading for a Master's Degree (MBA, Exec.) at the University of Malta, graduating in November 2014.

Chris Cuschieri has worked for the company for the past 24 years and obtained his ACII in 2000. He specialises in commercial insurance and reinsurance.

The two new general managers aim to take the company to new heights and intend to focus on staff training in order to help the company retain and improve its position at the forefront of the Maltese insurance market.

Just days ago, the two new general managers presented the board with their ideas and plans for the future and how they intend to reach their targets.

Considerable emphasis is being placed on the quality of service the company offers both to its clients and to third parties with whom it comes into contact.

Going the extra mile with clients promotes good customer care, hence the importance of investing resources in the continuous training of staff. The new general managers also intend to beef up the company's IT department to better assist the company and its employees, as well as its clients.

All this is achievable through the determination of the new general managers, supported by a strong management team and staff complement.

Elmo operates in all classes of insurance except life insurance, for which a special licence is required.

These are challenging times for the financial services industry in general as, with the advent of Solvency II, insurance companies will shortly have to cope with a far more demanding regulatory regime. Elmo's management team is well prepared for the challenges that it faces and accepts the new rigorous reporting requirements as being the most credible way of ensuring enduring success.

Elmo Insurance Ltd is authorised to carry out general insurance business and is regulated by the Malta Financial services Authority.