The MIB Group has been formed to address the demands of the full spectrum of insurance consumers including related support and consultancy services. The foundations, structure and resources of the various member companies of the Group are instrumental in the provision of a professional and comprehensive range of services driven by a philosophy and culture developed throughout our history.
MIB Management Services Limited is the holding company of the Broking and Underwriting arms of the Group. It was formed in 2005 with the objective of managing the Group’s owned and leased properties and to support both operating companies with their non-technical back office requirements as well as front line claims management operations.
The Broking arm of the Group is Mediterranean Insurance Brokers (Malta) Limited. MIB had its origins in 1976, then as Malta Insurance Brokers Limited. It was the first professional and independent insurance broking firm set up in the Maltese Islands. Benefiting from the experience and knowledge brought about by foreign investors in the company since its early days, the broking operation grew stronger and always maintained its leading position in the Maltese market. It eventually evolved to become Bain Hogg Malta, then Aon Malta and now Mediterranean Insurance Brokers. The latest change came about in 2005 when the current executive directors became the stakeholders in the company.
Appreciating that some sectors of the market are better reached and served through an underwriting arm, the Group created MIB Insurance Agency in 2007. Designed to operate on a wholesale concept, the Agency is today catering for the demands of brokers, tied insurance intermediaries and introducers. It acts as coverholder for certain Lloyd’s underwriters and represents a major local insurance player, Citadel Insurance plc. The fact that the Agency is addressing the demands of a different target market allows it to function independently from, but at the same time at Group level complements, the broking operation.