Atlas Group launches new financial unit
Grand Baie, Mauritius, October 1, 2012
Atlas Group, a leading global provider of fund administration services, has launched a financial group, offering a selection of offshore financial products and advisory services tailored towards professional intermediaries.
Atlas Financial Group (AFG) sits under the Atlas umbrella and is fully licensed and regulated by the Financial Services Commission of Mauritius.
The team will be led by directors Andrew Pletzer and Stephen Coulson and will work closely with the Atlas Corporate Services Group in Mauritius.
Atlas Financial Group offers a portfolio of services that includes International Life Assurance, titled ‘Atlas Life’ and Structured Investment Products together with Offshore Banking Services, Company and Trust Services and Corporate Risk solutions.
The selection has been put together by AFG to meet the needs of overseas residents, expatriates and internationally mobile clients, with an especial focus on the African market.
Most significantly, the new company will have exclusive distribution rights to two products in the African marketplace, Atlas Life and IDAD. Unlike local life insurance plans, Atlas Life will cover corporate or private clients across a wide range of international locations, whether for business or pleasure ensuring they are protected against a range of outcomes.
Established in 2002, IDAD is a successful, highly experienced provider of structured products, an investment vehicle that offers clearly defined, market-beating returns with no ongoing fees or charges.
Africa has been identified by the Atlas directors as a strategic location for expansion of its global network, with a largely new corporate services and insurance market.
Lucan Toh, director of Atlas Group said, "We are excited to announce the growth of our service portfolio through AFG and our move into a new territory, especially one in which we have identified huge opportunity. We are confident in our choice of directors for the new company and the experience and professionalism they will bring to the team.”
“There is a vast gap in the marketplace for hard currency life insurance and structured products in Africa,” Coulson said.
“We believe that under the Atlas Group umbrella, we have created a compelling package for the marketplace that will fill a much-needed gap. There is huge media and corporate interest in Africa at present, but this interest needs to be converted to action. We believe that we are one of the first to respond.” – TradeArabia News Service
More Finance & Capital Market Stories
- Gulf stocks surge as Fed tapering adds fuel to fire
- SABB launches graduates programme
- NBAD names key official for Hong Kong
- Commercial Bank of Dubai obtains $450m loan
- EFG Hermes names group co-chief
- Islamic bond issuance in GCC picking up
- Kuwait budget surplus likely to hit $42.4bn
- Bahrain banking sector on road to recovery
- GCC banks' outlook stable, says report
- GBSA panel names new chairperson