Source: FinanceMalta
https://financemalta.org/app/uploads/2019/10/FM-2018-sector-Insurance-compressed.pdf
https://financemalta.org/finance-sectors/insurance-reinsurance/
Dynamic Growth | Solid Regulatory Framework | EU Membership
Companies licensed in Malta can write business in any other member state, and the country has already attracted several Fortune 100 companies to set up insurance companies in Malta, among them multinationals such as BMW, Peugeot, Citroen, Nissan, Munich Re, and Vodafone.
EU passporting rights and competitive operating costs are key attractions of locating in Malta. The country also championed the introduction of innovative structures such as Protected and Incorporated Cell Companies. Both structures allow firms to write risks through cells within a core company and provide businesses with a cost-effective and a ring-fencing mechanism as an alternative to setting up a stand-alone insurance company. The cell model is also applicable to insurance managers and brokers.
Several insurance and reinsurance companies, intermediaries and cells are today registered in Malta, with the large majority being international players and only a handful of companies being active in the local market. The international insurance business now accounts for a substantial part of the total gross written premiums. With new legislation on reinsurance special purpose vehicles, Malta has also positioned itself to tap new markets. The island has recognized the growing importance of insurance-linked securities and catastrophe bonds, as well as the convergence of reinsurance and capital markets.
Permitted Business Models
- Standalone Insurance/ Reinsurance Company
- Affiliated Insurance/ Reinsurance Company
- Captive Insurance/Reinsurance Company
- A cell in a Protected Cell Company
- A cell in an Incorporated Cell Company