ARTICLE · 06 OCTOBER 2020

MFSA Issues Amendments To Insurance Business Rules

GTG Legal

Contributor

GTG Legal

Since its founding in 1997, GTG has been at the forefront of Malta’s legal profession, blending...

View firm profile

Explore more from GTG Legal

The MFSA has issued a circular to insurance market participants on amendments to Chapter 1 and Chapter 2 of the Insurance Business Rules issued under the Insurance Business Act...

MaltaInsurance

Ivan Gatt

Cherise Abela Grech

The MFSA has issued a circular to insurance market participants on amendments to Chapter 1 and Chapter 2 of the Insurance Business Rules issued under the Insurance Business Act (Chapter 403 of the Laws of Malta). These amendments are being made effective immediately.

Chapter 1 of the Insurance Business Rules provides for the requirements to by complied with by applicants seeking authorisation to establish an insurance undertaking; or a reinsurance undertaking; or a cell of a protected cell company; or a branch of a third country insurance undertaking or reinsurance undertaking in Malta; or intending to apply for an extension of authorisation.

Chapter 2 of the Insurance Business Rules on the Fit and Proper Criteria, Notification and Assessment is also being amended in order to integrate the competency form in the personal questionnaire and the assessment.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

MFSA Issues Amendments To Insurance Business Rules

Related Articles

European Commission Adopts New Solvency II Technical Standards On Group Identification And Cross-Border Supervision

Malta’s Captive Insurance Sector Sees 200% Growth As It Prepares For Next Regulatory Phase

A European Approach To Natural Catastrophe Risk Management

Court Of Appeal Upholds Insurers’ Freedom To Select Their Risks

SNCUs: A Solution To Enhance Proportionality

Read more about

Related Comparative Guides

Insurance & Reinsurance

See more popular content from

European Commission Adopts New Solvency II Technical Standards On Group Identification And Cross-Border Supervision

The Principle Of Insurable Interest

Newly Revised Legal Grounds For The Processing Of Personal Health Data For Insurance Purposes

The Development Of The Principle Of Uberrima Fides Over The Years

Insurtech And PCCs: Transforming Insurance In Malta

A European Approach To Natural Catastrophe Risk Management

Insurance Update: The Nature And Art Of Financial Supervision (Volume IX)

EIOPA Issues A Warning To Insurers And Banks On Credit Protection Insurance (CPI) Products

Solvency II - Subsidiary Legislation Issued Under The Insurance Business Act

Court Of Appeal Upholds Insurers’ Freedom To Select Their Risks

The General Court Upholds The EU–US Data Privacy Framework

Inteligo Case: Direct Marketing, Free Accounts, EPrivacy And The GDPR

The European Data Protection Board Adopts New Guidelines On Consent

The KNLTB Case: Legitimate Interests & AI

AI And The Redefinition Of Law In Code: The Future Of Legal Intention Under Article 4 DSM

AMLA Publishes Draft RTSs: Strengthening EU AML/CFT Supervision

ECJ Rules On Restrictions To Lawyers Bar Admission

Reflections On Stablecoins In 2026

DORA: Drafting And Reviewing ICT Services Agreements

The Digital Fairness Act: Europe's Next Big Test