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> FirstUnited - 'designed to deliver'  
  23 April, 2006   

The Sunday Times

The insurance broking operations of First Insurance Brokers Limited and United Insurance Brokers Limited were merged, with effect from April 6 to form FirstUnited Insurance Brokers Limited.

"As a result of the restructuring of the local economy and increased competition, corporate, industrial and individual clients require more help, advice and assistance to manage their insurable risks professionally," the new company said in a statement.

The merger will "release stronger skills and resources to the benefit of existing and prospective clients", it added. FirstUnited combines the strengths of two firms of similar size and culture with a complementary client base and first class quality and work standards and practices.

With a combined staff compliment of over 30 insurance professionals and a worldwide insurance broking network, the various services provided to clients will be designed to deliver better value and additional benefits where they are needed.

FirstUnited said it has the resources to provide local service with an international reach to counter the number of international companies establishing or acquiring a local market operation following Malta's entry into the EU and to take advantage of the greater opportunities presenting themselves in the international market.

The merged company's extensive agreements with international insurance broking networks will enable it to provide services to Maltese multinationals operating abroad as well as to international firms operating in Malta.
Domestic market operators will also gain significant advantage from these benefits and from the broader, deeper and wider base of resources that the merged operation can deploy.

"As part of FirstUnited's mission to provide clients with the highest professional insurance broking service standards, the company will invest strongly in staff training to ensure it will deliver a professional and personalised service," the statement said. "This training focus will also be supported by an IT development policy designed to deliver greater services and benefits to clients."

The new company's chairman will be Salvino Mifsud Bonnici, while Peter Grima and Kevin Galea Pace will be the managing director and sales and marketing director, respectively.

FirstUnited will operate from their head office at Villa Eden, 25, Princess Elizabeth Street, Ta' Xbiex, with a branch office at J.F. Kennedy Square, Victoria, Gozo.
The merger of the insurance broking operations of the two companies has been approved by the Malta Financial Services Authority.

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