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The Atlas Group has its roots very firmly set in the Maltese shipping industry of the 1920s. Through the political and commercial climate of the period, agencies for various British insurance companies were established, dealing with mainly marine cargo business and following that, accident and fire business. Following the Second World War, motor business began to establish itself in Malta and local agencies began to flourish.

When, during the late 1990s, Malta followed the worldwide pattern of buyouts and mergers, four local agencies merged with a long term view to eventually forming a local company. The name Atlas was revived as a way of acknowledging the significance of the group’s history during a period of focus on future growth and opportunities. Atlas became a local insurance company, as opposed to an agency for an overseas insurer, just after Malta’s accession to the EU, on 1 May 2004.

In 2006 Atlas Insurance restructured to become a protected cell company, a development which takes advantage of new regulations under the Maltese Companies Act. This restructuring attracts foreign investments and facilitate Atlas’ emergence into international markets by enabling captive insurance companies to set up in Malta.

In 2023 the company successfully obtained authorization for its UK branch.