Solvency II - Subsidiary Legislation Issued Under The Insurance Business Act

The Act, as amended by Act XXXIII of 2015 (published in the Government Gazette, No.19,503, on the 20 November 2015), together with regulations and Insurance Rules issued the said Act provide the framework of Maltese insurance legislation.

On the 18th September 2015, the MFSA issued a consultation document on a number of proposed Legal Notices ( regulations) to be issued under the Insurance Business Act (Cap.403) as amended by Act No. XXXIII of 2015 as part of the transposition of the Solvency II Directive. A further consultation document was issued by the MFSA on the 13th October 2015 relating to the proposed Insurance Business (Supervision of Insurance and Reinsurance Undertakings in a Group) Regulations, 2015.