Pictured above:Chief Executive Dr Vanessa Borg together with Mr Albert Cardona, Senior Commercial Manager & Director at AIAL and loyal customer Mr Edwin Mamo 

Argus Group, the parent organisation of Argus Insurance Agencies Limited (AIAL), recently announced a net profit of $10.6 million for the six months to 30 September 2014, declaring a dividend of seven cents per share. The Group’s total assets increased to $2.1 billion.

AIAL Chief Executive Dr Vanessa Borg said, “This latest set of positive results further strengthens the ability of Argus in Malta to leverage the skills and resources of the Group to continue developing our product portfolio and service offering to customers. This will remain a central pillar of our strategy as we continue to build on our heritage of providing insurance in Malta for half a century.”

AIAL’s focus on preserving its Maltese heritage whilst looking to the future was one of the main themes at a recent lunch organised by Argus to honour the company’s longest standing customer, Edwin Mamo, and longest serving Executive, Albert Cardona. Mr Mamo said, “I have been privileged to be a client of Argus Insurance Agencies Limited, formerly Fogg Insurance Agencies Ltd, for nearly fifty years. The management and staff have always been efficient, innovative and responsive to my needs and I would like to thank them for their service.”

Mr Cardona, a Senior Commercial Manager & Director at AIAL, who has been with the Company for 41 years, said, “Being part of the company for more than four decades, I’ve obviously seen a lot of changes but one thing which has been constant has been our respect towards the clients, building and sustaining a rapport with them. It’s this approach which has kept us as the forefront of the insurance business and secured the loyalty of customers like Mr Mamo.”

The latest set of Argus Group results also revealed an increase in net premiums earned of 18 per cent, or $11.3 million, compared with the previous year. Shareholders’ equity attributable to shareholders of the company also increased to $115.2 million, substantially in excess of the statutory capital required to conduct the Group’s insurance and financial services businesses by the regulatory bodies to whom the Argus Group reports. More information can be found at www.argus.com.mt