Foreword
Insurers are grappling with the tough new business, regulatory,
and investment environments that are emerging from the financial
crisis. The insurance industry also faces broader challenges
– demographic shifts, the rise in power of the emerging
markets, and changing customer behaviour." (A quote from
PwC's publication Insurance 2020 – Turning Change into
Opportunity).
Against this backdrop, Malta continues to witness an 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 2012- 2013, recently published by the World
Economic Forum, Malta ranked 15th out of 144 world economies
surveyed in the financial market development sub-index.
