Member Spotlight - Jatco Insurance Brokers PPC Ltd: With Lloyd’s Broker Status, Jatco Plots Expansion
The approval as registered Lloyd’s broker is a prestigious accreditation and an important milestone in Jatco’s company history, opening up exciting opportunities for Jatco and its clients, says Managing Director John Tortell.
For those that don’t know Jatco, can you provide some background on the company?
Jatco Insurance Brokers PCC Ltd is a company authorised under the Insurance Distribution Act Cap. 487 to carry out insurance intermediary activities, licensed to operate as a Protected Cell Company in terms of the Companies Act (Cell Companies Carrying on Business of Insurance) Regulations, 2010 and is regulated by the Malta Financial Services Authority.Jatco currently has eight licenced cells under its structure. The company employs 20 staff members, 10 of which are registered insurance brokers in the MFSA Insurance Brokers Register. They have an average commercial experience of over 15 years. Furthermore, Jatco has another four consultants, two of which are registered insurance brokers.Jatco has recently been appointed a broker at Lloyd’s. This was granted after an application process and stringent vetting. In order to facilitate broking business after Brexit, Jatco has also opened a branch in London, UK.
Can you share a little-known fact about Jatco?
Jatco Insurance Brokers PCC Ltd was the first insurance brokerage protected cell company with client cells, which obtained the licence for the first insurance brokerage cell worldwide in September 2013.
What are you currently working on and what are your company’s plans and strategic priorities for the coming years?
A priority is the set-up of more insurance brokerage cells, with a strong focus on offering UK brokers and Managing General Agents (MGAs) the possibility to continue their EU/EEA operations post-Brexit by setting up their insurance brokerage cell in Malta as part of the Jatco PCC structure. We equally aim to develop our core EU/EEA business and other business opportunities via the London Branch.
Are there any projects/achievements of your company that you are exceptionally proud of?
Yes, definitely achieving Lloyd’s broker status and our recent re-branding.
What in your opinion makes Malta an effective jurisdiction to set up a business?
It is the only EU/EEA domicile allowing the set-up of PCC structures for insurance intermediaries.
What kind of people/companies in the financial services community would you want to connect with?
Other insurance brokers and insurance undertakings.
Bio:
The operation of the company is managed by John Tortell, an Associate of the Chartered Insurance Institute of London and a Chartered Registered Insurance Broker who is also listed in the Brokers Register of the Malta Financial Services Authority. He is also the holder of the International Certificate for Financial Advisers and has been working in the local insurance industry for over 30 years.