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17-09-2010 | Bee Insurance Management – the new buzzword in insurance

Bee Insurance Management Ltd is the new name for International Insurance Management Services Ltd (IIMS). IIMS was established in 1991 as Malta’s first insurance manager, and is a wholly owned subsidiary of Middlesea Insurance p.l.c, Malta’s largest insurance Group.

IIMS provides insurance management services to insurance and reinsurance captives and direct writing insurance and reinsurance companies operating from Malta. This specialist insurance management company has developed a wide range of services in risk management and the formation and management of captive insurance and reinsurance companies. The Company, which has been active in establishing Malta as an international financial centre of repute, was the first manager in Malta to have on its books a captive insurance company .

Its insurance, reinsurance and financial expertise places the company in a leading position and in this respect, it is able to offer prospective clients who choose to establish an insurance or reinsurance company in Malta that can benefit from the country's passport rights to other EU countries, the full breadth of management and administrative services.

In January 2002, IIMS became the insurance manager for the Group, providing back office support services to the General and Life Insurance Companies of the Group, in addition to providing services to other third party clients. As from 1st July 2010, as part of Middlesea Group’s refocused strategy for the Company, IIMS has been concentrating exclusively on third party clients thus enabling it to attract further foreign investment and reputable foreign clients to the Maltese jurisdiction.

Bee Insurance Management can be assimilated to its namesake as a productive and creative company able to work in a team with its clients in order to reach the clients goals. Bee will continue to play a vital and creative role in the development of Malta as a respected and reputable financial services centre. Elizabeth Carbonaro, General Manager of Bee Insurance Management stated: “Bee’s key strength is undoubtedly its highly qualified and experienced human resources who are committed to deliver quality service to our clients. Bee is synonymous with professional and value-added management solutions for both captives and insurance and reinsurance companies.”

Bee Insurance Management Ltd is enrolled in the Managers List and authorised under the Insurance Intermediaries Act, 2006 to act as an Insurance Manager. COM 230810 491