Malta has been recognised as the best EU domicile for captive insurance in the European & UK Captive Awards 2017.
The awards are organised by the Captive Review publication, which analyses financial services, particularly the insurance sector.
“The judges recognised Malta’s commitment to the captive sector and the motivation of its local infrastructure to innovate and provide solutions to Europe’s risk management community.
“With Gibraltar set to leave the EU, Malta will be the only jurisdiction offering a cell company solution with the EU, while the judges were also impressed by the regulator’s approach to Solvency II and its willingness to embrace the principle of proportionality for captives,” the jury said.
As of the end of September 2017, the MFSA had eight affiliated companies – the way captives are defined in Maltese law – and 14 protected cell companies with 34 cells.