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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
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Insurance & Reinsurance

Brexit and the Insurance Market – Destination Malta?

following the June 2016 decision of the UK voters to exit from the European Union, a number of players in the London insurance market started querying the possible long-term effects of Brexit. The main concern that is being flagged refers to the access to the EU single market. Undoubtedly, the single passport regime proved to be a successful story for the EU, which underpinned the continued growth and solidity of the EU's financial services industry. But, what if Brexit actually happens, the UK has to forfeit its right to access the EU single market and its firms will no longer be…
Edmond Zammit Laferla
12th January 2017
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Insurance & Reinsurance

Mamo TCV Obtains Favourable Decision for Plaintiffs in Insurance Proceedings

In a judgement dated 31st October 2016 presided by Mr. Justice Anthony Ellul, in the names Atlas Insurance PCC Ltd and Middlesea Insurance plc in their name and as subrogated in the rights of the insured Attard Bros Company Ltd vs Elmo Insurance Ltd, the Civil Court, First Hall held that the concept of double insurance in terms of English law was recognised in Malta and therefore the defendant company was obliged to contribute to the payment made by the plaintiff companies. This decision makes an important contribution to the body of Maltese insurance substantive law.This case focused on two…
Joseph Borg Bartolo
22nd December 2016