Bermudian-based International General Insurance Holdings Ltd has set up a European subsidiary in Malta to directly access business across Europe.

International General Insurance Company (Europe) SE, a subsidiary of Bermuda-based International General Insurance Co Ltd, has been granted licensing by the Malta Financial Services Authority and is authorised to begin writing business.

In making this announcement, the company also said that Keith Mallia-Milanes has joined the company as chief executive officer of IGI Europe.

The company said Mr Mallia-Milanes has more than 35 years of industry experience.

Reporting to Andreas Loucaides, CEO of IGI UK, the company said Mr Mallia-Milanes will be responsible for all aspects of IGI Europe’s operations as well as business development across European markets.

Mr Loucaides said: “IGI’s footprint in mainland Europe, prior to the UK’s withdrawal from the European Union, was managed through relationships between our UK-based underwriters and London brokers.

“Operating from Malta presents a good business growth opportunity and will better enable IGI to service European clients. Under Keith’s leadership, we will continue to build out our European team and grow our portfolio in continental Europe.”

Mr Mallia-Milanes said: “IGI Europe is open and ready for business. IGI has a well-established reputation as an agile and disciplined underwriter, and IGI Europe will deliver that focus and ingenuity to the European market.”

The company said IGI Europe is authorised by the MFSA to write a full suite of IGI products and will exercise passport rights across the European Union and European Economic Area.

IGI is an international speciality risks commercial insurer and reinsurer underwriting a diverse portfolio of speciality lines.

The company is registered and operates in Bermuda, with operations also in London, Malta, Dubai, Amman, Labuan, and Casablanca.