Global Capital plc grew its asset base by €16 million in 2019, to reach €154m, during a year in which it focused on the provision of life and health insurance services. 

The company also registered a pre-tax profit of €2m, doubling the figure for the previous year, while total equity also increased to €20m. 

Global Capital chairman Paolo Catalfamo said: “These extremely positive results are down to restructuring the business and taking the strategic decision to grow our insurance business. We also achieved a positive return on our investments.

Global Capital has also appointed a major international consulting firm to assist in the preparation of a holistic strategic plan with the aim of addressing certain legacy issues and support the consolidation and future growth of the business.  A draft high-level proposal has been prepared and is currently being discussed with the Malta Financial Services Authority given the various regulatory approvals that will likely be required for its implementation.

Meanwhile, the company said it has been extremely agile in adapting to the situation created by the COVID-19 pandemic. All functions were reconfigured in remote mode and staff will resume office operations this week after they were tested for the virus by a medical profession using a rapid testing kit. 

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