Bermudian insurance firm Argus Group has announced the signing of an agreement to purchase Norwich Union International Insurance Company Limited (NUIIL), Gibraltar’s leading insurer.
With over 50% of the market share, NUIIL is Gibraltar’s largest insurance firm, specialising in motor and property insurance.
Argus has promised that no redundancies are envisaged among the firm’s 19 strong staff as a result of the transaction.
NUIIL is set to be rebranded to reflect its new ownership, and an agency arrangement in Malta under which it writes a portfolio of Maltese motor business will remain unaffected.
Gerald Simons, President & Chief Executive Officer, the Argus Group, commented: “I am very pleased to be making this announcement today. We are keen to expand our business operations and NUIIL is an excellent fit with the Argus Group’s business model.”
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment