Vital statistics:

Cell captive structures licensed in domicile (PCC, ICC, SAC etc):

PCCs

Date cell captive legislation was passed:

2004

Name of cell captive law:

Companies Act (Cell Companies Carrying on Business of Insurance) Regulations

Total number of cell companies:

4

Total number of individual active cells:

10

Capitalisation requirements:

(Own Funds): General Insurance €2.2 to 3.2million; Long Term Business €3.2 million; Pure Reinsurer €3 million (affiliated Reinsurer €1 million)

Licensing Fees:

PCC : €2,500 upon application and €2,500 upon approval of licence. Per Cell : €1,000 upon application and €1,000 upon approval of licence. (Fees vary if the PCC intends to write contracts at the core)

Tax regime for cell companies/cells:

35% on company profits (shareholders entitled to 6/7ths refund upon distribution of profits)

Regulatory contact details:

Information Office, Malta Financial Services Authority (tel+356 21441155), fax: +356 21441189; email: communications@mfsa.com.mt

PCCs in Malta:

View manager contact details