Investors Trust has announced the opening of ITA International Insurer in the US territory of Puerto Rico, in the latest expansion of the wealth management group in the region.
In a statement issued this morning Investors Trust said, "Puerto Rico is an ideal location for insurers and re-insurers from Latin American, European and other international markets. As a United States commonwealth, Puerto Rico's free market economy is subject to both federal and state regulations designed to protect free-market competition; specifically, but not limited to, the insurance and banking industries.
"This position further stabilises Puerto Rico as an attractive domicile for international insurance business and provides legal peace of mind for companies and individuals."
To accommodate these changes, Investors Trust has also established an international financial entity in Puerto Rico to consolidate all banking and custody transactions for the group of insurance companies.
The need for greater diversity and new jurisdictions has led Investors Trust to reposition itself as a multi-jurisdictional insurance group.
In an exclusive interview with International Investment, Ariel Amigo (pictured), chief marketing and distribution officer at Investors Trust, explained the choice of Puerto Rico and the company's strategy for expanding in the region. View the full interview here or click below to watch.