In Financial Services


Malta is a prime jurisdiction for obtaining an insurance license in the EU through its implementation of European Union legislation, such as the Insurance Distribution Directive transposed through the Insurance Distribution Act. The sector is also regulated by the Insurance Business Act, along with the Insurance Mediation Directive and the Reinsurance Directive. The Malta Financial Services Authority (MFSA) is the sole regulator of the insurance sector, which grants licenses and supervises licensed insurance entities. The MFSA provides a stable approach whereby it encourages communication with potential and licensed insurances businesses to ensure the growth of the market while upkeeping the law. A key benefit of obtaining a license in Malta is that the insurance license can be passported to other jurisdictions with the European Union and the European Economic Area.

Key Features:

The Insurance Business Act classifies insurance business into long term business and general business.

Long term business consists of the following classes:

  • Life and annuity;
  • Marriage and birth;
  • Linked long term;
  • Permanent health;
  • Tontines;
  • Capital redemption;
  • Pension fund management;
  • Collective insurance; and
  • Social insurance.

General business includes:

  • Accident;
  • Sickness;
  • Land vehicles;
  • Railway rolling stock;
  • Aircraft;
  • Ships;
  • Goods in transit;
  • Fire and natural forces;
  • Other damage to property;
  • Motor vehicle liability;
  • Aircraft liability;
  • Liability for ships;
  • General liability;
  • Credit;
  • Suretyship;
  • Miscellaneous financial loss;
  • Legal expenses; and
  • Assistance.

Composition of Insurance Companies can be structured as a Limited liability company, a Protected Cell Company or an Incorporated Cell Company, through a flexible regulatory regime. The application procedure for a license takes around six months, with the application fee structure being as follows:

  Long term business General business
Minimum fee €5,000 €500
Fee per class €3,500 €300
Minimum own funds €3.7 million €2.5 million / €3.7 million (depending on the class of business)

We're here to help

Our team will help you deliver results whilst working to the highest professional standards. Nexia BT your reliable partner in Malta.

Get in touch