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The Atlas Group has its roots very firmly set in the Maltese shipping industry of the 1920s. In keeping with the political and commercial climate of the period, agencies for various British insurance companies were established, dealing with mainly marine cargo business and following that, accident and fire business. Following the Second World War, motor business began to establish itself in Malta and local agencies began to flourish.
During the economic boom of the 80s, the various Atlas forerunners established themselves on the local market and grew their portfolios, specialising in diverse areas, which today form the pool of expertise that makes up the Atlas Group.
When, during the late 1990s, Malta followed the worldwide pattern of buyouts and mergers, four local agencies merged as agents for Guardian Insurance (later AXA Insurance) with a long term view to eventually forming a local company. Atlas had been one of the insurers represented during the 1950s, and the name was now revived as a way of acknowledging the significance of the group’s history during a period of focus on future growth and opportunities.
Atlas became a local insurance company, as opposed to an agency for an overseas insurer, with Malta’s accession to the EU on 1 May 2004, a momentous occasion for country and company.
In 2006, Atlas Insurance restructured to become a protected cell company, a development which takes advantage of new regulations under the Maltese Companies Act. This restructuring attracted foreign investment and facilitated Atlas’ emergence into international markets by enabling captive insurance companies to set up in Malta within the protected cell framework.