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MFSA Issues Note for Information on the General Good Provisions Applicable to European Insurance Undertakings Passporting in Malta Insurance & Reinsurance

MFSA Issues Note for Information on the General Good Provisions Applicable to European Insurance Undertakings Passporting in Malta

Following the application of the Conduct of Business Rulebook to the insurance sector on the 1st October 2018, there was a lacuna in terms of the rules which European insurance undertakings are required to observe when carrying on cross-border business in Malta on a freedom of services basis. To address this lacuna, on the 16th April 2019, MFSA issued amendments to Chapter 9 of the Insurance Rules on Freedom of Establishment and Freedom to provide Services by a European Insurance Undertaking and a European Reinsurance Undertaking. These amendments identify the rules (also referred to as the general good provisions) in…
Edmond Zammit Laferla
22nd April 2019
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Captive Review: Malta Focus Insurance & Reinsurance

Captive Review: Malta Focus

The captive continues to be considered as an important alternative risk transfer tool for an increasing number of companies including SMEs. Despite the fact that the captive insurance market continues to attract more interest, it requires to adapt itself to the new challenges of the 21st century. Increased compliance costs and higher capital requirements seem to be shifting the interest of captive owners from stand-alone captive to cell captives forming part of a Protected Cell Company structure. Malta provides the right regulatory environment and a diverse selection of corporate structures which have propelled this EU member state to become a…
Edmond Zammit Laferla
3rd March 2017