This month's edition of Reactions, a leading international
reinsurance magazine, looked at Malta's main selling points,
and discussed with MFSA Chairman Prof Joe Bannister the latest
development in the sector.
Reactions notes that Malta hosts around 60 licensed re-insurance
companies in Malta. Of these, 10 are captives and 11 protected cell
companies (PCCs) which may be used for reinsurance, insurance and
captive business. These PCCs between them host 27 cells.
Commenting on impending reforms in this sector, particularly in
association with Solvency II, Prof Bannister noted that the Malta
Financial Services Authority (MFSA) engages with licence holders on
an ongoing basis to assist in the preparation for the
implementation of Solvency II through workshops, ad-hoc compliance
visits or face to face meetings with directors and senior officials
of licensed entities: "Broadly speaking the insurance market
in Malta is on track to implement Solvency II by January 2016
