Insurance
Malta’s pro-business regulatory environment coupled with a wide network of Double Taxation Agreements and European passport rights, introduced with Malta’s accession to the EU, has led to a huge growth in Malta’s insurance sector. The latter is mainly regulated by two main pieces of legislation, these being the Insurance Business Act (Chapter 403 of the Laws of Malta) and the Insurance Intermediaries Act (Chapter 487 of the Laws of Malta). These are complemented by a number of Insurance Directives, Rules and Regulations issued by the MFSA, such as the Reinsurance Special Purpose Vehicles Regulations implemented in 2013. The latter provides for the establishment and supervision of catastrophe bond issuers and sidecars, both of which may be set up as Maltese tax neutral vehicles. Malta also ensures a stable and consistent regulatory approach when providing insurance licenses, owing to the fact that they are governed by the MFSA; the Maltese single regulator responsible for the entire financial market.
 
Furthermore, Malta is the only full European Member State regulating Protected Cell Companies. PCCs are particularly useful for those medium-sized companies seeking to establish their own insurance vehicles, provided that PCCs allow the spreading of risks, without jeopardizing the assets of any other individual cell owner.
 
The firm offers the following services in relation to Insurance:
  • Advice as to the raising of capital and the spreading of risks;
  • Incorporation, licensing and support of insurance and reinsurance companies;
  • Taxation;
  • Regulatory Compliance;
  • Advice to Insurance Intermediaries;
  • Securitisation vehicles;
  • Sourcing of funding;
  • Drafting of insurance policies, reinsurance treaties, and related documentation;
  • Dispute resolution on insurance and reinsurance related matters; and 
  • The restructuring, reorganisation or insolvency of local insurance companies.
LAWYERS SPECIALISING IN THIS FIELD
Malcolm qualified as a lawyer in 1995 and was engaged as an associate in one of Malta’s largest law firms. He branched out on his own in 1998 and participated in partnerships that developed into to Mifsud & Mifsud Advocates, which he co-founded with his brother Cedric in 2007. Malcolm has a vast experience in Civil and Commercial litigation and as a result has advised on a large range of legal issues to individuals, corporate structures and public institutions, whether in Malta or abroad.
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