Insurance and Reinsurance
Malta’s insurance and reinsurance sector continues to grow and attract major foreign players to its shores. Underpinned by a robust regulatory framework, a forward-looking, modern and approachable regulator, and an attractive business and working environment, the local (re)insurance sector continues to grow at a fast rate and today includes captives, direct underwriters, reinsurers, brokers, and insurance managers. These players have assumed a number of corporate forms ranging from stand-alone limited liability companies, to protected or incorporated cell companies or cells thereof, and European companies (SE). The recent introduction of specific legislation has also led to the creation of reinsurance special purpose vehicles (RSPVs).
In addition, since Malta is a full member of the European Union, (re)insurance companies based in Malta can benefit from the EU passporting regime which gives them the ability to carry on their business into other EU member states from Malta. This is of particular advantage to multinational group of companies looking to establish a presence in Malta with a view to penetrating the EU market to underwrite the group’s risks or third party risks.
Indeed, Malta has become a mature and competitive international (re)insurance market with a total gross written premium income always on the increase.
Mamo TCV continues to be one of the front-runners in this sector. We regularly assist clients in setting-up reinsurance and insurance corporate structures in Malta. We also provide various legal services with respect to the day-to-day operations of the local structure. We are also very active on the domestic market and provide regular advice on corporate and compliance issues.
Here’s what we can do for you:
- Assist you to identify the right corporate structure to be set up in Malta;
- Liaise on your behalf with the local competent authorities with respect to the licensing/authorisation requirements;
- Provide the necessary legal/logistic support during the application for license/authorisation;
- Drafting of the memorandum and articles of association of the local company;
- Drafting of agreements related to the operations of the company such as outsourcing, back office, employment, lease of office space and so forth;
- Review of policy documentation;
- Provide support in relation to the compliance obligations of the company;
- Assistance in cases of litigation or other disputes;
- Guidance in relation to corporate governance matters.