IIMS rebranded as Bee Insurance Management following strategy re-focus

This announcement came a few days after MSI had announced that with effect from 1 July 2010, the subsidiary would focus only on external clients rather than internal clients.

Commenting on the name change, Bee Insurance Management General Manager Elizabeth Carbonaro said: “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,” she added.

IIMS was established in 1991 as Malta’s first insurance manager. 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 had been “active in establishing Malta as an international financial centre of repute”, was the first insurance manager in Malta to have a captive insurance company on its books.

Its insurance, reinsurance and financial expertise placed IIMS “in a leading position” and in this respect, it was able to offer prospective clients who chose 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, the company had became the insurance manager for MSI group, providing back office support services to the general and life insurance companies within MSI, in addition to providing services to other third party clients.