Gibraltar-based Sovereign Insurance Services marked the beginning of the New Year by expanding its business in Ocean Village. The company has acquired the general insurance book of Eurolinx Limited and as a result, well-known local insurance personality Alan Montegriffo has joined the expanding team.

Commenting on the acquisition, Sovereign Insurance Services Managing Director Geoff Trew said that although organic growth was positive, the Eurolinx general insurance book would allow the business to grow exponentially over the coming year. He added that the company is delighted that Mr Montegriffo is joining the team. Mr Trew pointed out that Neil Entwistle has also recently joined the company, and that he will concentrate on working with the Sovereign Group offices world-wide to generate international insurance business opportunities for their Gibraltar, London and international insurance markets.

Sovereign Insurance Services is a subsidiary of the wider Sovereign Group whose global Head Office is located in Main Street. Now boasting a total staff complement of almost 80 locally, Sovereign has offices in a further 23 locations worldwide.

Group Finance Director Gerry Kelly, himself based in Gibraltar, welcomed the acquisition adding that Sovereign Group remains interested in any further suitable opportunities, both locally and abroad. He commented that two further deals were being considered at present.

Sovereign Insurance Services is a fully licensed insurance broking intermediary and is based at new state of the art premises at Ocean Village’s Promenade. They arrange all types of Insurance cover for both personal and corporate clients worldwide where coverages include such specialist lines as healthcare, construction, corporate liability, contingency and kidnap & ransom. Benefitting from their location at the Ocean Village marina, a full range of marine and aviation based insurance services are also available.