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UK insurance firm moves to Malta ahead of Brexit

Another UK financial services company its moving to Malta ahead of Brexit.

Independent insurance firm Robus Group has opened its new office in San Gwann in preparation for Britain leaving the EU in March next year.

The new base will allow Robus to offer British customers uninterrupted access to the European Single Market.

Licensed by the Malta Financial Services Authority, the company already has operations in Guernsey and Gibraltar.

Robus Group Malta manager Jonathan Abela: ‘We don’t exist for Brexit but we exist because some of our clients require the capability to be able to write risk in the EU beyond March 2019.

‘That’s why we are resourcing Robus in Malta.’

Robus Group chief executive Richard Le Tocq said: ‘Obtaining our Malta licence at this pivotal time for business in Europe is extremely timely.

‘It will mean that we can offer genuinely independent advice to our clients whether they need to be in a European jurisdiction or otherwise.’

Meanwhile, Malta’s prime minister has said he will lose his most important ally when the UK quits the EU next year.

He told reporters: ‘Malta is set to lose a powerful friend once Britain leaves the EU. We’re urging Britons to back Prime Minister Theresa May’s package, which ill have to be approved by the British Parliament.

‘That being said, Malta will be losing an important ally in the EU which has the same priorities and policies on a number of issues.’