Malta
Malta's strengths lie in its EU-based regulatory regime,
combined with the approachability of the Malta Financial Services
Authority (MFSA), which engages with the industry and prospective
applicants and seeks to establish communication and dialogue with
stakeholders.
The domicile has also developed an innovative product
structuring framework, such as protected cell companies,
reinsurance special purpose vehicles and insurance securitisation
cell legislation, which it manages within strong regulatory
parameters.
Captive insurance and captive reinsurance undertakings, as
defined in Articles 13(2) and 13(5) of Solvency II, have been
transposed into Malta's Insurance Business Act, meaning they
are authorised undertakings in the domicile. Captive insurers and
captive reinsurers must also adhere to the Insurance Business
(Captive Insurance Undertakings and Captive Reinsurance
Undertakings) Regulations of 2003 (LN 334 of 2003).
