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ARTICLE · 06 JANUARY 2016

The Maltese Solvency II Regulatory Framework

On the 22nd December 2015 the MFSA published the new single rulebook which will replace all the existing 33 Insurance Rules under Solvency I.

MaltaInsurance

On the 22nd December 2015 the MFSA published the new single rulebook which will replace all the existing 33 Insurance Rules under Solvency I.  These Insurance Rules were repealed by Insurance Rule 34.  This completes the transposition of Solvency II into national legislation.

The new Solvency II regulatory framework which will come into force on the 1st January 2016 has been transposed into local legislation through the amended Insurance Business Act which was published on the 20th November 2015, subsidiary legislation in the form of amended and new Regulations which were consulted in two sets between September and November 2015 and this new consolidated Rulebook made up of 15 Chapters covering the areas shown in the table below:

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