Abacus Risk Management becomes Europe’s first protected cell company

Established in January 2009, Abacus is proud to announce the regulator’s approval of its first Cell - South Risk Management Cell. This Cell will focus on attracting insurance undertakings requiring insurance management and risk management consultancy. The Cell will be relying on the strong support and knowledge base that Abacus provides.

“Abacus is currently in a unique position and is the first Insurance Manager PCC in Europe to be able to approach the market on two levels,” said Julian Mamo, Director.  “With a bi-focal business model, the Company is an insurance manager in its own right catering for the needs of insurance undertakings that require management on an ongoing basis or assistance in the process of feasibility and establishment. It is also available to service entities that would like to participate in the insurance management process in an EU domicile, without the need to set up a fully-fledged Registered Insurance Manager.”

This is the route that South Risk Partners Ltd has taken when directors decided to set up South Risk Management Cell within Abacus. Early on in the discussion process it became clear that Abacus and South Risk could benefit from the structure and synergies that this created. “I am delighted that, Abacus has in fact forged ahead with this PCC structure and that we are seeing it in action on an insurance manager level as well,” continued Julian Mamo. ““South Risk Partners are confident that by working within this structure all parties will be playing to their strengths with the ultimate beneficiary being the client.” said Joanne Alamango, director of South Risk Partners Ltd.

Abacus Risk Management Services PCC Ltd is an associate company of GasanMamo Insurance Limited, one of Malta’s leading general insurance companies.  Abacus has formed strategic relationships with leading firms in associated with Insurance Management.  With many years of practical experience in the complex areas of affiliated / captive insurance, global insurance programmes and risk management, the people behind Abacus offer superior client satisfaction and high-level management performance based on technical knowledge and backed by an efficient back office.