- • MultiBank Group is the first offshore derivatives entity to offer excess loss insurance
- • Excess loss insurance policy is underwritten by Lloyds of London
- • Protects clients funds up to $1,000,000 per account
- • Existing clients have the option to migrate to MEX Atlantic and benefit from the insurance policy
Dubai, UAE, 12 October 2021: MultiBank Group, one of the largest financial derivatives providers worldwide announced that it will offer excess loss insurance from Lloyd’s of London to the customers of its subsidiary MEX Atlantic.
The insurance is included in all MultiBank Group’s products and marks an innovative first in the offshore derivatives industry.
MultiBank Group is now the only offshore derivatives entity to offer excess loss insurance and clients can now trade with high leverage of 500:1 with the security of excess loss insurance.
The policy will protect accounts with funds up to $1,000,000, and clients who wish to take advantage of the policy will be automatically migrated to the Group’s new subsidiary MEX Atlantic.
Naser Taher, Chairman of MultiBank Group commented, “We are the world’s most heavily regulated broker, registered with over 11 regulators worldwide. Since our inception in 2005, the security of our clients’ funds has been a core value that we carry on to this day. I am pleased to announce we are the first offshore derivatives broker in the world to enlist a $1,000,000 excess loss insurance policy underwritten by Lloyd’s of London. This year has been a strong one for us and we look forward to many more years of growth and success with our customers.”
MultiBank Group reported record financial results for 2020, announcing gross profit of over $139 million for the year, a 62% increase from 2019. The Group’s annual turnover for 2020 was over $5 trillion, another record figure.
Earlier this year, MultiBank Group announced the launch of a global cryptocurrency exchange.