Four Decades of Business Evolution
An article written by Mark Laferla Jr, Joint Managing Director of Laferla Insurance Group for the IM Yearbook 2025.
As Laferla Insurance Group celebrates its 40th anniversary, Joint Managing Director Mark Laferla Jr. speaks about how the company has grown ove the years, and its foray into the investment migration industry.
Laferla started out as an agency representing various Lloyds of London underwriters back in the 1980s, initially focusing primarily on motor insurance in Malta. Gradually the areas of business widened to commercial and industrial property, and, in 1987, Laferla became one of the first health insurance providers on the island.
How would you describe the company’s key milestones?
A key milestone along company’s journey was in 2014, when we got involved with the investment migration industry, which was still in its infancy in Malta.
We quickly established ourselves as the go to insurance partner of choice for all leading immigration firms, onboarding over 85% of the applicants under the Maltese CBI and RBI programmes as clients of the group. A position we are proud to maintain 10 years on.
In 2024, the group was proud to launch a state-of-the-art telemedicine platform called Digimed along with two prominent local partners. The group also announced the upcoming launch of Laferla Money, in Q1 of 2025.
What measures is Laferla taking to ensure compliance and maintain the trust of its clients?
We strive to maintain ease of doing business and invest heavily in technological tools to streamline internal processes and keep our turnaround times quick and our processes simple.
In this way, we keep our clients and partners happy while ensuring full compliance with the rules regulating our industry. We have worked hard for the past four decades to build a strong reputation of reliability, and we make sure that we maintain this trust in everything we do.
How does Laferla leverage its family-run business model to foster a unique corporate culture and ensure exceptional service standards?
We are truly a family business. My brothers and I run the business, and our father, who founded the company, remains Chairman of the board.
We are proud to say that our entire team shares our vision and corporate values – Family, Loyalty, Credibility, Stability and Quality. This is what allows us to maintain the highest level of service in all areas of operation within the group and what ensures that every person in the team is doing things the Laferla way.
What are Laferla’s strategic priorities for the next decade?
Apart from our launch of Laferla Money and Digimed, internationalisation is another key priority for the group, and we are actively working on developing our proprietary technologies to position ourselves as a leading European Insurtech brand.
