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.… Continue reading Doing Business in Malta
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Improving insurability of business interruption risk vs. pandemics
EIOPA Measures | News Piece: 12th February 2021 https://www.eiopa.europa.eu/content/eiopa-addresses-measures-improve-insurability-of-business-interruption-risk-light-of The European Insurance and Occupational Pensions Authority (EIOPA) published today its staff paper on measures to improve the insurability of business interruption in light of pandemics. Building on the Issues paper on shared resilience solutions for pandemics published in July, EIOPA analyses options relating to prevention measures to… Continue reading Improving insurability of business interruption risk vs. pandemics
IoM launches digital marketing campaign for its captives sector
Source: Captive International https://www.captiveinternational.com/news/iom-launches-digital-marketing-campaign-for-its-captives-sector-3956 Finance Isle of Man, the agency dedicated to developing the island’s financial services sector, has launched a digital marketing campaign to promote its captive insurance offering. The campaign highlights the benefits of establishing a captive on the Isle of Man (IoM), emphasising its regulatory and legal infrastructure, which has specifically designed governance… Continue reading IoM launches digital marketing campaign for its captives sector
A.M. Best examines EIOPA’s Solvency II Review Advice
Source: Captive Insurance Times https://www.captiveinsurancetimes.com/captiveinsurancenews/industryarticle.php?article_id=7343&navigationaction=latestnews&page=1&newssection=industry If the European Insurance and Occupational Pensions Authority’s (EIOPA) response to the Solvency II review is implemented, A.M. Best says it would expect to see increases to best-estimate liabilities (as measured under Solvency II), mostly offset by decreases in the risk margin and the effect of a larger volatility adjustment… Continue reading A.M. Best examines EIOPA’s Solvency II Review Advice
How Brexit could affect you
https://www.fca.org.uk/consumers/how-brexit-could-affect-you Latest Update: 25th January 2021 If you’re a consumer or small business and you’re concerned about how Brexit may have affected your financial products and services, read our information on living, travelling and making payments in the UK and Europe. The UK has left the European Union (EU), with the transition period ending on… Continue reading How Brexit could affect you
MFSA Document on ICT Risk & Cyber Supervision
JANUARY 28, 2021Share On 28 January 2021, the Malta Financial Services Authority issued the third volume of ‘The Nature and Art of Financial Supervision’ series, focusing on ICT Risk and Cybersecurity Supervision. This document provides background on ICT risk and cybersecurity, including the applicable legal and regulatory framework, and the work of the MFSA’s Supervisory… Continue reading MFSA Document on ICT Risk & Cyber Supervision
MFSA Stakeholder Outreach
MFSA Webinar for Tied Insurance Intermediaries FEBRUARY 05, 2021 Over 300 Tied Insurance Intermediaries participated in a webinar on the regulatory requirements that they are subject to. The webinar is part of the MFSA’s ongoing stakeholder outreach, which has gone unabated, despite the ongoing pandemic. Upon introducing the webinar, Emily Benson, Head of Conduct Supervision… Continue reading MFSA Stakeholder Outreach
IFRS17: Rendering Credit Rating Agencies Obsolete?
Introduction A recent piece by Insurance Europe highlighted that The Solvency II risk margin currently ties up around €190bn of EU insurers’ capital asserting that, “This is unnecessarily high and reduces insurers’ capacity to take on risks and to invest in the economy.” There are always two sides to a coin and arguments in favour… Continue reading IFRS17: Rendering Credit Rating Agencies Obsolete?