Foreword
Material growth is expected in the field of international
insurance business. Malta is witnessing an ever increasing number
of foreign players registering as insurance licencees, together
with an ongoing stream of enquiries on potential new applications.
This growth is consistent with Malta's development as a
reputable financial services centre, which has accelerated since
membership of the European Union in 2004. In the Competitiveness
Index 2011-2012, recently published by the World Economic Forum,
Malta ranked 15th out of 143 world economies surveyed in the
financial market development sub-index. The insurance industry is
an important pillar of the Maltese economy, taking advantage of a
number of key attributes that Malta offers, including a
highly-skilled workforce, excellent service, the appropriate
corporate infrastructure and robust legislative and regulatory
frameworks, including tax efficiency and innovative structures such
as PCCs and ICCs.
