LifeStar Holding plc - Divestment of Insurance Brokers Business

On 30 August, GlobalCapital plc announced that its subsidiary GlobalCapital Insurance Brokers Limited (GCIB) has entered into an agreement to divest the portfolio of its insurance broking business to Mediterranean Insurance Brokers (Malta) Limited. The transaction is effective 1 October 2013.

GCIB’s exit from the insurance broking market is in line with GlobalCapital’s stated objective to focus on the Group’s life and health insurance businesses and its complimentary investment services business. The Group also continues to dedicate its efforts to improving operational efficiencies, developing distribution channels and enhancing its product and service offerings across its core insurance business.