ITA International Insurer has become the latest member of the Investors Trust group of companies (ITA Group) after the insurance business opened in Puerto Rico.
The firm said Puerto Rico’s US territorial status is “ideal” for insurers and re-insurers from Latin America, Europe and other international markets. Due to its free market economy, it will be an “attractive domicile for international insurance business”.
Investors Trust said this operation is part of its global expansion to provide international financial advisers (IFAs) and potential clients with “more options” and “great flexibility”.
In a bid to reach out to these clients, Investors Trust has also established an International Financial Entity (IFE) in Puerto Rico to “consolidate all banking and custody transactions” for the group of insurance companies.
The company is regulated in Puerto Rico under the International Financial Center Regulatory Act and will provide a variety of financial services.
Investors Trust expects “further growth in 2019 to support its multi-jurisdictional structure”. It now has bases in Cayman Islands, Malaysia and Puerto Rico.
