MIB

What MIB does

MIB (legal name: Mediterranean Insurance Brokers (Malta) Ltd.) is Malta's largest insurance broker and risk management services firm, founded approximately in 1970 and operating as a privately owned independent intermediary regulated by the Malta Financial Services Authority (MFSA) under license C3540. The company distributes 50 distinct lines of insurance covers spanning Personal Lines (Health, Home, Travel, Motor, Boat, Personal Accident, Life, Small Business) and Commercial Lines (Property, Liability, Transit, Marine, Aviation, Professional Indemnity, Cyber/iGaming, Engineering, Employee Benefits, Construction, Motor Fleets), alongside a Risk Consultancy practice covering Risk Reviews, Insurance Program Audits, and Business Continuity/Crisis Planning. Its technology stack centers on a self-service online quote and claims intake platform (relaunched October 2020) integrated with the Truevo Payment Gateway for PCI-compliant card processing, supported by bank-payment rails through BOV and HSBC Internet Banking. The firm employs approximately 60 staff, of whom multiple senior figures hold ACII, MIRM, CMIRM, and CFIRM qualifications, organized into specialist Corporate, SME & Personal Lines, Business Development, Claims Management, Finance, and ICT divisions.

MIB's revenue model is primarily commission-based brokerage: as an intermediary, it places client risks with both Maltese and international insurers, earning placement and renewal commissions, supplemented by fees from its Risk Consultancy professional-services practice and bank-distribution add-on products (HSBC Travel Scheme, HSBC Purchase Protection, HSBC Home Loans Buildings Policy). Go-to-market is hybrid — direct sales via three physical offices (Qormi headquarters, Ta' Xbiex and Gozo branches) plus a self-serve online channel — supported by organic social media, a newsletter, blog, and event presence (SiGMA 2021 iGaming trade show). Customer segmentation is horizontal across individual consumers, SMEs, and major public/private corporate entities, with named relationships spanning government (Fgura Local Council), education (University of Malta Faculty of Health Sciences), construction trade bodies (Malta Chamber of Construction Management), and financial services distribution partners (HSBC). The business is single-geography (Malta) with no public revenue disclosure.

Name

MIB

Legal name

Mediterranean Insurance Brokers (Malta) Ltd.

Website

https://mib.com.mt

Company type

Private

Founded year

1970

Operating status

Operating

Headcount range

51–100 employees

Short description

MIB is Malta's largest independent insurance broker, distributing 50 personal and commercial insurance lines and risk consultancy services through 60 staff across three offices and an online platform.

Ownership category

akta.pro rank

Product category

Insurance Brokerage

NAICS

Insurance Agencies and Brokerages (52421), Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210)

SIC

Insurance Agents, Brokers & Service (6411), Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Commercial Lines Insurance Brokerage (FSAEADAB)

akta.pro secondary industries

Retail (Personal Lines) Insurance Brokerage (FSAEADAA), Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ), Marine Specialty (Hull/P&I/Cargo) (FSAJAGAJ), Protection & Indemnity (P&I) / Marine Liability Insurance (FSAJAHAH)

Keywords

• Insurance brokerage services
• Commercial insurance lines
• Personal insurance products
• Risk management consulting
• Claims management services

Headquarters

HQ city

Qormi

HQ country

Malta

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Insurance Brokerage Commissions: MIB acts as an intermediary between clients and insurance carriers, earning commissions from insurers for placing business. The company provides multiple quotations from Maltese and international insurance markets, assists in selecting the best proposal, and handles claims on behalf of clients.
2. Risk Consultancy Services: MIB provides risk management consultancy including Risk Reviews, Insurance Program Audits, Business Continuity and Crisis Planning. Three staff members hold qualifications with the Institute of Risk Management, UK, and are linked to international Risk Management specialists.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels8 records

Core offering

MIB is Malta's largest insurance brokerage firm, acting as an intermediary between clients and insurance carriers to provide personal and commercial insurance products. The company offers 50 lines of insurance covers across health, home, travel, motor, boat, life, personal accident, small business, transit, liability, marine, aviation, property, financial risks, professional indemnity, cyber, engineering, employee benefits, construction, and motor fleets. MIB also provides dedicated risk consultancy services including Risk Reviews, Insurance Program Audits, and Business Continuity and Crisis Planning.

Product overview

MIB (Mediterranean Insurance Brokers Malta) is Malta's largest insurance broker offering a comprehensive portfolio of insurance products and risk management services. The company provides two main service categories: Personal Insurance products including Health, Home, Travel, Motor, Boat, Personal Accident, Life, and Small Business Insurance; and Business/Corporate Insurance covering Transit, Liability, Marine, Aviation, Property, Financial Risks, Professional Indemnity, Cyber Insurance, Engineering, Employee Benefits, Construction, and Motor Fleets. The firm also offers specialized bank partnership products (HSBC Travel Scheme, HSBC Purchase Protection, HSBC Home Loans Buildings) and Risk Consultancy services. As a broker, MIB acts as intermediary providing multiple quotations from local and international insurance markets and handles claims management on behalf of clients.

Differentiator

Problem solved

Functional benefit

Products and services

• Health Insurance Comprehensive health insurance plans individually tailored on a customer-by-customer basis, covering medical treatment both locally and abroad. For individuals and households.
• Home Insurance Protection against loss or damage to home buildings and contents, covering perils such as fire, explosion, storm, theft, and third-party liability arising from home ownership. For homeowners.
• Travel Insurance Protection during business or holiday trips including personal accident benefits, medical expenses, cancellation or curtailment coverage, and luggage protection. Available at Low, Intermediate, and Highest coverage levels. For travelers.
• Motor Insurance Coverage options including Comprehensive, Third Party Fire and Theft, and Third Party Only, covering vehicle damage and third-party liability. For vehicle owners.
• Boat Insurance Covers loss or damage to boats, engines, trailers, and equipment, including third-party liability. Options include Third Party Only and Comprehensive coverage. For boat owners.
• Personal Accident Insurance Payment of pre-agreed benefits for accidental death, permanent disability, and temporary disability, with options for 24-hour or occupational-only coverage. For individuals.
• Life Insurance Life assurance providing payment upon death of the insured, including Level Term, Whole Life, and Decreasing Term or Loan Protection products. For individuals.
• Small Business Insurance Wide range of cover for small businesses including fire, theft, storm and earthquake damage, with inbuilt liability coverage and multiple protection levels. For small business owners.
• Transit Insurance Covers movement of goods including Goods In Transit (domestic) and Marine Cargo Insurance (international), protecting against loading/unloading risks, theft, fire, and storm damage. For businesses shipping goods.
• Liability Insurance Coverage for legal liability arising from bodily injury, death, or property damage to others, including Public Liability, Products Liability, Employers Liability, and Directors & Officers Liability. For businesses.
• Marine Insurance Covers damage to waterborne craft and installations, including Pleasure Craft, Hull & Machinery, Protection & Indemnity, and Aquaculture Insurance. For marine operators and aquaculture businesses.
• Aviation Insurance Covers aircraft for loss/damage, crew and passenger injuries, cargo, baggage, and liability, including General Aviation, Airlines, and Aerospace Insurance. For aviation operators.
• Property Insurance Coverage for physical assets including buildings, contents, equipment, with options for Accidental Damage, Fire & Special Perils, Electronic Equipment, and All Risks policies. For businesses.
• Financial Risks Insurance Insurance for financial losses including Business Interruption, Money, Fidelity, Increase in Cost of Working, and Advance Profits coverage. For businesses.
• Professional Indemnity Insurance Protects against legal liability to pay damages to third parties for errors or omissions committed in the course of business, covering negligence, intellectual property, and loss of documents. For professional services firms.
• Cyber Insurance and iGaming Exposures Coverage for cyber risks including data breaches, network security failures, and regulatory proceedings, plus Prize Indemnity for contingent prizes. For businesses with cyber and iGaming exposures.
• Engineering Insurance Protection against accidental loss or damage from construction projects, machines, and equipment, including Machinery Insurance, Boiler Explosion, and Contractors Plant coverage. For engineering and construction businesses.
• Employee Benefits Employer compensation packages including Group Personal Accident, Group Health, Group Life Assurance, Group Travel, and Income Protection. For employers.
• Construction Insurance Coverage for material damage and third-party liability in the construction industry, available as Contractors All Risks or Erection All Risks policies. For construction companies.
• Motor Fleets & Tool of Trade Insurance Fleet insurance for businesses with multiple vehicles, covering comprehensive, third party fire and theft, or third-party basis, plus Tool of Trade coverage for vehicles like cranes. For fleet operators.
• Risk Consultancy Risk management services including Risk Reviews, Insurance Program Audits, Business Continuity and Crisis Planning consultancy. Three staff members hold qualifications with the Institute of Risk Management, UK. For corporate clients.

Quantifiable outcome

• MIB provides quotes valid for maximum 30 days from release date unless otherwise specified.
• +1 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature3 records

Partnerships

Five partnerships are on record, tiered minor and core.

• Hospice MaltaminorOthers · 23 October 2024MIB hosted an informative breast cancer awareness session by Hospice Malta as part of Pink October 2024. The session highlighted the significance of early detection, prevention, and support available for those affected by breast cancer.
• Europa Donna MaltaminorOthers · 23 October 2023Europa Donna Malta was invited as a special guest to deliver a Breast Cancer Awareness talk to MIB's female workforce during Pink October 2023. The organization is dedicated to raising awareness about breast cancer and supporting those affected.
• Malta Chamber of Construction Management (MCCM)coreChannel Partner/ Reseller/ Distributor · 5 August 2021MIB partnered with the Malta Chamber of Construction Management (MCCM) to provide discounted insurance rates on Home, Motor, Travel, Boat, Pet, Landlord, Block of Flats and Common Areas Only policies for active MCCM members. Members purchasing more than one new policy are eligible for multiple discounts and gain access to multiple quotations from local and international markets along with full claims assistance.
• Faculty of Health Sciences, University of MaltaminorOthers · 26 July 2021MIB provided financial sponsorship for the Faculty of Health Sciences at the University of Malta to fund events throughout the year including seminars, workshops, conferences, team building activities, and the Annual Dean's Awards ceremony.
• Inspire FoundationminorOthers · 5 March 2021During Employee Appreciation Day 2021, MIB purchased seasonal goodies for the team with a percentage of proceeds going towards the Inspire Foundation.

Scale indicators5 records

Recent moves7 records

Expansion highlights4 records

Broad incumbents

• Howden Group Holdings: Howden is a global insurance broker with growing specialty lines capabilities, including marine, aviation, and cyber. It is comparable to MIB on the specialty commercial side and a competitor for larger Maltese commercial placements.
• Ardonagh Group: Ardonagh is a major international insurance distribution and brokerage group. As a broad incumbent, it overlaps with MIB in commercial broking and risk advisory services and is a competitor for placement of Maltese commercial risks.
• Aon plc: Aon is a global insurance and reinsurance brokerage and advisory firm. As a broad incumbent, it competes with MIB for Maltese corporate risk management mandates and provides an alternative placement channel for complex or large commercial programs.
• Marsh Limited: Marsh is one of the world's largest insurance brokers and risk advisors. It is a broad incumbent competing for large Maltese corporate and multinational accounts that MIB also serves, particularly for cross-border placements where scale and global carrier access matter.

Emerging players

• BFL CANO Insurance Brokers: BFL CANO is a specialty insurance broker with particular focus on iGaming and emerging-tech risks, headquartered in Malta. It competes with MIB on specialty commercial lines — particularly cyber and iGaming exposures — but with a narrower overall product portfolio.

Direct peers

• Elmo Insurance Ltd: Elmo Insurance is a Maltese insurer offering general insurance products including motor, home, and commercial cover. It operates in the same Maltese market as MIB, frequently as a carrier-counterparty and at times as a competing distribution intermediary.
• MAPFRE Middlesea plc: Middlesea is a major Maltese insurer (part of MAPFRE Group) offering motor, home, marine, travel, and commercial insurance in Malta. It is one of MIB's principal carrier-counterparties and a competing distribution channel, particularly for personal lines.
• Alan Bobb Insurance Brokers: Alan Bobb Insurance Brokers is a Malta-based independent insurance brokerage serving both personal and commercial clients. It is a direct competitor in the Maltese intermediary market with similar product breadth and customer segments to MIB.
• Atlas Insurance PCC Limited: Atlas Insurance is one of Malta's largest domestic insurance companies and a direct competitor to MIB on both personal and commercial lines. It is a Malta-based carrier/broker hybrid offering motor, home, marine, travel, and commercial products, sharing MIB's Maltese market focus and target customer segments.
• GasanMamo Insurance: GasanMamo is a long-standing Maltese insurance provider offering motor, home, travel, marine, and commercial cover. Like MIB, it serves Maltese consumers and corporates with a broad multi-line portfolio and a comparable Malta-only geographic footprint.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/MIBMalta
• LinkedInlinkedin.com/company/mediterranean-insurance-brokers-malta-ltd---mib
• Instagraminstagram.com/mibinsurancebrokers

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MIB