GlobalCapital, now LifeStar, to focus on insurance market

GlobalCapital on Wednesday announced its new brand identity, LifeStar, in the presence of Finance Minister Edward Scicluna, as the Group focuses on the rapidly changing life and health insurance market.

LifeStar chairman Paolo Catalfamo said that since taking over GlobalCapital in 2015, the company had been transformed into an agile and innovative player in the insurance market.

“We went through a restructuring process in the run-up to rebranding by streamlining processes, introducing efficient working practices and reorganising the management structure to bring about better performance and improved corporate governance. Our new name reflects the positive changes we have made and our status as a trusted and respected player in this segment,” he said. “We also took a strategic decision to concentrate on what we do best: insurance. We have been a proud country representative of one of the world’s leading health insurance principals, Bupa, for many years and have established a solid reputation as a leading provider of insurance products in Malta.”

Finance Minister Edward Scicluna welcomed the company’s ambition, will and motivation to restructure and rebrand during these difficult times.

“GlobalCapital’s rebranding into LifeStar is a good sign and is more than meets the eye – this is not only good for the Group, but good for the industry and good for the country,” he said.

After unveiling the new company name and logo, Catalfamo explained that GlobalCapital Life Insurance Limited was now LifeStar Insurance Limited, GlobalCapital Health Insurance Agency Limited was now LifeStar Health Limited, and GlobalCapital plc was now LifeStar Holding plc.

Catalfamo said the company was privileged to have 34,000 policyholders who depend on it as well as 2,000 shareholders and bondholders.

“I would like to thank my colleagues for being part of this journey. We are very excited about the future and our new name embodies our desire for our clients to live their brightest life,” he said.