MFSA newsletter - New insurance licences for international operators
On October 24, the MFSA authorised White Rock Insurance (Europe) PCC Ltd to carry on business of insurance in a number of general classes of business. AON has redomiciled the Gibraltar-based White Rock PCC to Malta. White Rock is a unique group of...
On October 24, the MFSA authorised White Rock Insurance (Europe) PCC Ltd to carry on business of insurance in a number of general classes of business.
AON has redomiciled the Gibraltar-based White Rock PCC to Malta.
White Rock is a unique group of insurance and reinsurance vehicles with operations in key domiciles including Bermuda, Gibraltar, Guernsey and Luxembourg. Chris Le Conte of White Rock Global was reported on Captive Review as saying that: "The move to Malta allows us to offer clients a greater choice in the options available to them when considering a captive solution."
On October 27 the MFSA licensed the reinsurance company Munich Re. The global reinsurer has set up an operation in Malta, initially to provide retrocession for internal group business but also with the possibility of servicing local captives.
Konstantin von Jagow, the new CEO of Munich Re of Malta, was reported as saying that: "We will be the retrocessionaire for entities Munich Re has all over the world."
The third protective cell company in Malta was authorised on November 18 - Axeria Life International PCC Ltd.
Income Protection Cell has been approved as a cell of Axeria Life International PCC to carry on business in two classes of general business and two classes of long-term business.
AON has redomiciled the Gibraltar-based White Rock PCC to Malta.
White Rock is a unique group of insurance and reinsurance vehicles with operations in key domiciles including Bermuda, Gibraltar, Guernsey and Luxembourg. Chris Le Conte of White Rock Global was reported on Captive Review as saying that: "The move to Malta allows us to offer clients a greater choice in the options available to them when considering a captive solution."
On October 27 the MFSA licensed the reinsurance company Munich Re. The global reinsurer has set up an operation in Malta, initially to provide retrocession for internal group business but also with the possibility of servicing local captives.
Konstantin von Jagow, the new CEO of Munich Re of Malta, was reported as saying that: "We will be the retrocessionaire for entities Munich Re has all over the world."
The third protective cell company in Malta was authorised on November 18 - Axeria Life International PCC Ltd.
Income Protection Cell has been approved as a cell of Axeria Life International PCC to carry on business in two classes of general business and two classes of long-term business.