A subsidiary of insurance firm Argus Group has been awarded chartered insurer status by the top professional body for the industry.

The Chartered Insurance Institute gave the award, an exclusive title only given to firms that meet the highest standards of professionalism, to Gibraltar-based Argus Insurance Company (Europe).

Alison Hill, CEO of Argus, said: “I would like to congratulate the Argus team in Gibraltar for this well-deserved designation.

“The Chartered Institute title is highly exclusive and reserved for leading insurance firms around the world.

“Joining other worldwide Chartered Insurers, Argus earns formal recognition that we work hard every day to provide consistent and world-class service to meet the needs of our client base.

“Joining other worldwide chartered insurers, Argus earns formal recognition that we work hard every day to provide consistent and world-class service to meet the needs of our diverse client base.”

Fewer than 30 firms worldwide have achieved chartered insurer status and Argus’ Gibraltar arm is the first in the jurisdiction to be awarded the designation.

Argus Insurance Company (Europe), part of the Argus Group for eight years, provides personal and commercial insurance in Gibraltar and Malta.

Tyrone Montovio, general manager of the firm, said: “We are delighted to be recognised by a prestigious industry body like the CII.

“As a chartered insurer, we are committed to delivering quality service, the continued development of our staff and upholding the highest professional and ethical standards.”