FinanceMalta and the University of Malta’s Department of Insurance and Risk Management organised a panel session titled ‘Malta as an Insurance Hub‘. Here is what was being discussed.

In July, FinanceMalta teamed up with the University of Malta to organise the “Malta as an Insurance Hub” event at St. James Cavalier in Valletta. This event aimed to provide an overview of the peculiarities of the Maltese insurance sector.

It was an integral part of the “Advanced Studies on Insurance Regulation: An International Course” promoted by the University of Malta, Department of Insurance and Risk Management, which was held at the UM Valletta Campus from the 17 until the 22 July 2022.

The numerous and qualified audience attending the event included the course participants and lecturers from many European countries.

News- Malta as an Insurance Hub

Photo 1 – Malta as an Insurance Hub Panel Session

A panel comprising Matthew Bianchi – Deputy Chairman, FinanceMalta, Alfred Parnis – Deputy Head at the Insurance & Pensions Supervision, MFSA, Ramon Mizzi – Chairman of the Association of Insurance Brokers, and Dominique Sizes – Chairman of BIPAR, answered the questions posed by Pierpaolo Marano, Associate Professor at the Department of Insurance and Risk Management.

Matthew Bianchi and Ramon Mizzi illustrated the dimensions and lines of activity of the (re) insurance companies and intermediaries based in Malta, highlighting the niches of activity provided all over the EU and peculiarities such as captives and PCCs that distinguish Malta, albeit within the framework of European Union rules.

Finally, Alfred Parnis gave an overview of the trends observed in the applications to the MFSA for establishing insurance entities in Malta and from Maltese-based entities to carry out business in other countries.

Lastly, Dominique Sizes indicated the characteristics of a successful insurance hub, highlighting how the rules – not only for insurance and the bodies responsible for their application – must guarantee the existence of a stable and confident regulatory and economic framework.

News - Malta as an Insurance Hub

Photo 2 – Pre-Panel Session Discussion

In this regard, the use of the proportionality principle sanctioned by the European legislator facilitates this objective if appropriately used by national policy-makers.

The discussion also highlighted how an insurance hub must also have the ability to attract and retain talented people because product and process innovation plays an essential role in the European and international competitive scenario.

Course participants provided exciting insights by highlighting what makes insurance attractive to them compared to other sectors of activity.

Reflection on these ideas concluded the event. A networking event followed.

The world’s first advanced intensive course on insurance regulation was indeed a success and the UM is aiming to turn this into an annual appointment.

FinanceMalta is pleased to have supported such an important initiative which will ensure that Malta strengthens its proposition of being an insurance hub and have the talent pool it requires to fulfill such purpose.

News - Malta as an Insurance Hub

Photo 3 – Networking Session

'Insurance & Reinsurance' Related News Articles

01
BOV OFFERS MAPFRE MSV Life CAPITAL GUARANTEED AND INCOME PLANS
Bank of Valletta

by Bank of Valletta

5th March 2024

Insurance update: The Nature and Art of Financial Supervision (Volume IX)
Ganado Advocates

by Ganado Advocates

4th March 2024

Strengthening Cyber Resilience: ICT Third-Party Risk for Insurers under DORA
Ganado Advocates

by Ganado Advocates

29th February 2024

GRC in Malta: The role of regulatory governance codes in strengthening governance structures of regulated entities
Ganado Advocates

by Ganado Advocates

23rd February 2024

EIOPA’s 2nd Report on the Application of the Insurance Distribution Directive (the “IDD”)
Ganado Advocates

by Ganado Advocates

19th February 2024

Atlas Insurance PCC Expands Reach with UK Branch Authorization and Life Reinsurance License
Atlas Insurance PCC Ltd

by Atlas Insurance PCC Ltd

25th January 2024

MFSA Circular on the Newly Published Accountancy Profession Regulations, 2023 (Legal Notice 299 of 2023)
Ganado Advocates

by Ganado Advocates

22nd January 2024

Insurtech and PCCs: Transforming insurance in Malta
Ganado Advocates

by Ganado Advocates

6th December 2023

MFSA issues Circular making the appointment of Independent Non-Executive Directors mandatory for Insurance Agents, Insurance Brokers and Retirement Scheme Administrators
Ganado Advocates

by Ganado Advocates

6th December 2023

The Guaranteed Capital & Income Plan 2026 II now available from all BOV Branches, Investment Centres and Private Banking
Bank of Valletta

by Bank of Valletta

6th September 2023

BOV announces limited-time offer on the MAPFRE MSV Life Unit Linked Personal Pension Plans
Bank of Valletta

by Bank of Valletta

23rd August 2023

Juridical interest in the context of insurance claims
Ganado Advocates

by Ganado Advocates

27th February 2023

Proposed amendments to the MFSA Insurance Distribution Rules
Ganado Advocates

by Ganado Advocates

24th February 2023

The Development of the Principle of Uberrima Fides over the years
Ganado Advocates

by Ganado Advocates

4th January 2023

Corporate Governance Code: How will your company apply the Code to ensure a sound governance structure?
Ganado Advocates

by Ganado Advocates

4th January 2023

High calibre international speakers for FinanceMalta’s 15th Annual Conference
FinanceMalta

by FinanceMalta

28th October 2022

The sinking of an oil tanker, recognition of judgements, arbitration proceedings and insurance contracts
Ganado Advocates

by Ganado Advocates

27th October 2022

EIOPA issues supervisory statement on the management of non-affirmative cyber risk exposures
Ganado Advocates

by Ganado Advocates

12th October 2022

The Corporate Governance Code provides core principles to be adopted by insurance entities to strengthen its good corporate governance
Ganado Advocates

by Ganado Advocates

12th October 2022

Talent Feature: How education can keep up with finance transformation
FinanceMalta

by FinanceMalta

5th August 2022

Member Spotlight – Jatco Insurance Brokers PPC Ltd: With Lloyd’s Broker Status, Jatco Plots Expansion
FinanceMalta

by FinanceMalta

22nd September 2021

Reinsurers’ Financial Communication: 2019-2020 Benchmark study
Mazars in Malta

by Mazars in Malta

4th June 2020