Malta provides the opportunity for companies to locate their captive insurance business (referred to as “Affiliated Insurance Companies”) within an OECD-recognized tax environment that combines tax efficiency with controlled foreign company legislation requirements and comparatively low costs. Complementing an attractive fiscal and costs package is a comprehensive statutory regime, regulated by the Malta Financial Services Authority (MFSA) in terms of the Insurance Business Act, 1998. Affiliated Insurance Companies enjoy ‘regular insurer’ status in Malta, facilitating their access to the reinsurance market.
Malta’s insurance legislation provides opportunities for affiliated insurance business and related businesses such as:
- Protected Cell Companies
- Insurance Management Companies
- Regional operations for insurers
- Insurance Brokers
- Insurance Intermediaries
Malta’s re-domiciliation regulations enable Affiliated Insurance Companies operating in other jurisdictions to carry out any insurance business in Malta subject to the authorization of the MFSA.
Affiliated Insurance Companies are required to meet a number of statutory requirements which faithfully transpose EU Directives regulating companies carrying out insurance business.