Malta Posts Another Decent Year And Ready For Brexit - Commerical Risk Review

In the first of a three part in depth look of the Maltese economy Commercial Risk Europe (CRE)'s latest edition focused on the insurance sector and the island's readiness for Brexit.

In view of the decision taken by UK voters to leave the European Union, the article also considers the potential benefits for Malta following such vote. CRE argues that this vote may trigger the relocation to Malta by UK companies first as a protective measure and then possibly on a long-term basis. In this regard, MFSA Chairman Prof Bannister noted that firms in the fund industry "could remain based in other domiciles but could establish equivalent funds here to sell into Europe. If other domiciles do receive passporting rights, then this would not be necessary, but it is an option to consider".