Developments In Malta's Insurance Industry

MFSA Chairman Prof Joe Bannister was interviewed by Captive Review for this month's edition of the insurance publication on the challenges facing international insurance programmes and about how Malta has developed as an attractive jurisdiction to operate in.

Questioned on the most significant challenges facing the industry, the MFSA Chairman highlighted the introduction of Solvency II in January II, explaining that the Solvency II framework promotes a strong risk culture which needs to become embedded in the insurers' organisation and nurtures strong risk management capabilities - two elements that are key for the effective operation of any global risk management programme. However, it is positive, Prof Bannister noted, that some captive managers have focused on turning these challenges into opportunities for the optimisation of global insurance programmes.