Life Insurance in Malta, Key Trends and Opportunities to 2019

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Growth in the Maltese life segment was fueled by a favorable regulatory framework, stable economic development, increases in employment, the aging population and life expectancy. It was also supported by Malta’s business-friendly environment, including a low tax regime and direct access to other EU markets. These indicators are expected to remain favorable over the forecast period and the segment is expected to increase at a strong CAGR.
In 2014, the Maltese population aged 65 years and over accounted for 17.7% of the total population; it is expected to rise to 23.4% by 2025. Average life expectancy grew from 79.6 years in 2010 to 80.1 years in 2014; it is expected to reach 80.7 years by 2019. Life expectancy is a primary factor used to calculate life cover costs, with a rise in life expectancy driving up premiums. Rises in the aging population and life expectancy are expected to increase demand for retirement and pension-related products. This is an encouraging factor for life insurers, as they are likely to sell more income-generated insurance such as unit-linked and pension products.

Scope

• An analysis of the various distribution channels in the Maltese life insurance segment

• An overview of the competitive landscape of the life insurance segment

• An examination of the key developments in the Maltese life insurance segment

• The highlighting of new products launched by life insurance participants

• The key trends, drivers and challenges for the life insurance segment

• An exhaustive list of parameters in the life insurance industry in Malta, including: written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions

• Profiles of the leading life insurance companies operating in the Maltese life insurance segment

• A comprehensive overview of Malta’s economy and associated demographics

• Historical values for the life insurance segment for the report’s 2010 to 2014 review period, and projected figures up to 2019

• A detailed analysis of the key categories in the Maltese life insurance segment, and market forecasts to 2019.

Key Highlights

What is considered a unique feature of the Maltese insurance industry?

What proportion of the total insurance gross written premium is accounted for by the Maltese life segment?

What remained the key category in the segment during the review period? What is the predominant share of the life insurance gross written premium accounted for by this category?

What is the key benefit of the implementation of the third pillar pension reforms for Maltese insurers?

Which factors were the key drivers of growth in investment income in the life segment during the review period?

Reasons to Buy

• Gain an in-depth understanding of the Maltese life insurance market

• Assess the market dynamics and seek to gain competitive advantage through the positioning of your products

• Identify the growth opportunities in key product categories and align your sales and marketing accordingly

• Investigate key regulations governing the Maltese life insurance industry to ensure your compliance to any legislative changes

• Evaluate the performance of key market drivers and current distribution channels to identify opportunities to increase your future participation

MSV Life Plc,HSBC Life Insurance (Malta) Ltd,Global Capital Plc,Citadel Insurance Plc
,

Table of Contents

1 Key Facts and Highlights

2 Executive Summary

3 Economy and Demographics

4 Life Insurance Outlook

4.1 Key Drivers

4.2 Key Trends

4.3 Challenges

4.4 Life Insurance Growth Prospects by Category

4.5 Individual Life Insurance

4.5.1 Group whole life insurance

4.6 Life Insurance Growth Prospects by Product Type

4.6.1 Individual single-premium insurance

4.6.2 Individual non-single-premium insurance

4.6.3 Total linked insurance business

4.6.4 Total non-linked insurance business

5 Analysis by Distribution Channel

5.1 Direct Marketing

5.2 Bancassurance

5.3 Agencies

5.4 Brokers

6 Competitive Landscape and Strategic Insights

6.1 Overview

6.2 Leading Companies in the Maltese Life Insurance Segment

6.2.1 GlobalCapital Plc – company overview

6.2.2 MSV Life Plc – company overview

6.2.3 HSBC Life Insurance (Malta) Ltd – company overview

6.2.4 Citadel Insurance Plc – company overview

7 Governance, Risk and Compliance

7.1 Legislation Overview and Historical Evolution

7.2 Latest Changes in Regulations

7.3 Legislation and Market Practice by Type of Insurance

7.3.1 Life insurance

7.3.2 Property insurance

7.3.3 Motor insurance

7.3.4 Liability insurance

7.3.5 Marine, aviation and transit insurance regulations

7.3.6 Personal accident and health insurance regulations

7.4 Compulsory Insurance

7.4.1 Motor third-party liability insurance

7.4.2 Social Security System

7.4.3 Air carriers and aircraft operators insurance

7.4.4 Professional indemnity insurance for healthcare professionals

7.4.5 Professional indemnity insurance for alternative investment fund managers

7.5 Supervision and Control

7.5.1 International Association of Insurance Supervisors

7.5.2 European Insurance and Occupational Pensions Authority

7.5.3 Federation of European Risk Management Associations

7.5.4 Ministry of Finance

7.5.5 Malta Financial Services Authority

7.5.6 The Financial Services Tribunal

7.6 Non-Admitted Insurance Regulations

7.6.1 Overview

7.6.2 Intermediaries

7.6.3 Market practices

7.6.4 Fines and penalties

7.7 Company Registration and Operations

7.7.1 Types of insurance organization

7.7.2 Establishing a local company

7.7.3 Foreign ownership

7.7.4 Types of license

7.7.5 Capital requirements

7.7.6 Solvency margins

7.7.7 Reserve requirements

7.7.8 Investment regulations

7.7.9 Statutory return requirements

7.7.10 Fee structure

7.8 Taxation

7.8.1 Insurance premium or policy taxation

7.8.2 Withholding taxes on premium paid overseas

7.8.3 Corporate tax

7.8.4 VAT

7.8.5 Captives

7.9 Legal System

7.9.1 Introduction

7.9.2 Access to court

7.9.3 Alternative dispute resolution

8 Definitions and Methodology

8.1 Definitions

8.2 Methodology

9 About GlobalData

9.1 Contact GlobalData

9.2 About GlobalData

9.3 GlobalData’s Services

9.4 Disclaimer

Table

Table 1: Maltese Life Insurance – Key Facts, 2014

Table 2: Maltese Government Credit Ratings

Table 3: Maltese Life Insurance – Gross Written Premium by Category (EUR Million), 2010–2014

Table 4: Maltese Life Insurance – Gross Written Premium by Category (US$ Million), 2010–2014

Table 5: Maltese Life Insurance – Gross Written Premium by Category (EUR Million), 2014–2019

Table 6: Maltese Life Insurance – Gross Written Premium by Category (US$ Million), 2014–2019

Table 7: Maltese Life Insurance – New Business Direct Written Premium (EUR Million), 2010–2014

Table 8: Maltese Life Insurance – New Business Direct Written Premium (EUR Million), 2014–2019

Table 9: Maltese Life Insurance – Net Earned Premium (EUR Million), 2010–2014

Table 10: Maltese Life Insurance – Net Earned Premium (EUR Million), 2014–2019

Table 11: Maltese Life Insurance – Paid Claims (EUR Million), 2010–2014

Table 12: Maltese Life Insurance – Paid Claims (EUR Million), 2014–2019

Table 13: Maltese Life Insurance – Number of Policies per Capita, 2010–2014

Table 14: Maltese Life Insurance – Number of Policies per Capita, 2014–2019

Table 15: Maltese Life Insurance – Commissions and Expenses (EUR Million), 2010–2014

Table 16: Maltese Life Insurance – Commissions and Expenses (EUR Million), 2014–2019

Table 17: Maltese Life Insurance – Net Written Premium as a Percentage of Gross Written Premium (%), 2010–2014

Table 18: Maltese Life Insurance – Net Written Premium as a Percentage of Gross Written Premium (%), 2014–2019

Table 19: Maltese Life Insurance – Renewal Business Direct Written Premium (EUR Million), 2010–2014

Table 20: Maltese Life Insurance – Renewal Business Direct Written Premium (EUR Million), 2014–2019

Table 21: Maltese Life Insurance – Total Assets (EUR Billion), 2010–2014

Table 22: Maltese Life Insurance – Total Assets (EUR Billion), 2014–2019

Table 23: Maltese Life Insurance – Net Written Premium (EUR Million), 2010–2014

Table 24: Maltese Life Insurance – Net Written Premium (EUR Million), 2014–2019

Table 25: Maltese Individual Life Insurance – Gross Written Premium by Category (EUR Million), 2010–2014

Table 26: Maltese Individual Life Insurance – Gross Written Premium by Category (US$ Million), 2010–2014

Table 27: Maltese Individual Life Insurance – Gross Written Premium by Category (EUR Million), 2014–2019

Table 28: Maltese Individual Life Insurance – Gross Written Premium by Category (US$ Million), 2014–2019

Table 29: Maltese Individual Life Insurance – Direct Written Premium by Category (EUR Million), 2010–2014

Table 30: Maltese Individual Life Insurance – Direct Written Premium by Category (US$ Million), 2010–2014

Table 31: Maltese Individual Life Insurance – Direct Written Premium by Category (EUR Million), 2014–2019

Table 32: Maltese Individual Life Insurance – Direct Written Premium by Category (US$ Million), 2014–2019

Table 33: Maltese Individual Whole Life Insurance – Direct Written Premium (EUR Million), 2010–2014

Table 34: Maltese Individual Whole Life Insurance – Direct Written Premium (EUR Million), 2014–2019

Table 35: Maltese Other Individual Life Insurance – Direct Written Premium (EUR Million), 2010–2014

Table 36: Maltese Other Individual Life Insurance – Direct Written Premium (EUR Million), 2014–2019

Table 37: Maltese Group Whole Life Insurance – Direct Written Premium (EUR Million), 2010–2014

Table 38: Maltese Group Whole Life Insurance – Direct Written Premium (EUR Million), 2014–2019

Table 39: Maltese Individual Single-Premium Insurance – Gross Written Premium (EUR Million), 2010–2014

Table 40: Maltese Individual Single-Premium Insurance – Gross Written Premium (EUR Million), 2014–2019

Table 41: Maltese Individual Single-Premium Insurance – Direct Written Premium (EUR Million), 2010–2014

Table 42: Maltese Individual Single-Premium Insurance – Direct Written Premium (EUR Million), 2014–2019

Table 43: Maltese Individual Non-Single-Premium Insurance – Gross Written Premium (EUR Million), 2010–2014

Table 44: Maltese Individual Non-Single-Premium Insurance – Gross Written Premium (EUR Million), 2014–2019

Table 45: Maltese Individual Non-Single-Premium Insurance – Direct Written Premium (EUR Million), 2010–2014

Table 46: Maltese Individual Non-Single-Premium Insurance – Direct Written Premium (EUR Million), 2014–2019

Table 47: Maltese Linked Insurance Business – Gross Written Premium (EUR Million), 2010–2014

Table 48: Maltese Linked Insurance Business – Gross Written Premium (EUR Million), 2014–2019

Table 49: Maltese Linked Insurance Business – Direct Written Premium (EUR Million), 2010–2014

Table 50: Maltese Linked Insurance Business – Direct Written Premium (EUR Million), 2014–2019

Table 51: Maltese Non-Linked Insurance Business – Gross Written Premium (EUR Million), 2010–2014

Table 52: Maltese Non-Linked Insurance Business – Gross Written Premium (EUR Million), 2014–2019

Table 53: Maltese Non-Linked Insurance Business – Direct Written Premium (EUR Million), 2010–2014

Table 54: Maltese Non-Linked Insurance Business – Direct Written Premium (EUR Million), 2014–2019

Table 55: Maltese Life Insurance – Direct Marketing Value of Commissions (EUR Million), 2010–2014

Table 56: Maltese Life Insurance – Direct Marketing Value of Commissions (EUR Million), 2014–2019

Table 57: Maltese Life Insurance – Direct Marketing New Business Direct Written Premium (EUR Million), 2010–2014

Table 58: Maltese Life Insurance – Direct Marketing New Business Direct Written Premium (EUR Million), 2014–2019

Table 59: Maltese Life Insurance – New Policies Sold Through Direct Marketing (Thousand), 2010–2014

Table 60: Maltese Life Insurance – New Policies Sold Through Direct Marketing (Thousand), 2014–2019

Table 61: Maltese Life Insurance – Bancassurance Value of Commissions (EUR Million), 2010–2014

Table 62: Maltese Life Insurance – Bancassurance Value of Commissions (EUR Million), 2014–2019

Table 63: Maltese Life Insurance – Bancassurance New Business Direct Written Premium (EUR Million), 2010–2014

Table 64: Maltese Life Insurance – Bancassurance New Business Direct Written Premium (EUR Million), 2014–2019

Table 65: Maltese Life Insurance – New Policies Sold Through Bancassurance (Thousand), 2010–2014

Table 66: Maltese Life Insurance – New Policies Sold Through Bancassurance (Thousand), 2014–2019

Table 67: Maltese Life Insurance – Number of Banking Entities, 2010–2014

Table 68: Maltese Life Insurance – Number of Banking Entities, 2014–2019

Table 69: Maltese Life Insurance – Agencies’ Value of Commissions (EUR Million), 2010–2014

Table 70: Maltese Life Insurance – Agencies’ Value of Commissions (EUR Million), 2014–2019

Table 71: Maltese Life Insurance – Agencies’ New Business Direct Written Premium (EUR Million), 2010–2014

Table 72: Maltese Life Insurance – Agencies’ New Business Direct Written Premium (EUR Million), 2014–2019

Table 73: Maltese Life Insurance – New Policies Sold Through Agencies (Thousand), 2010–2014

Table 74: Maltese Life Insurance – New Policies Sold Through Agencies (Thousand), 2014–2019

Table 75: Maltese Life Insurance – Number of Insurance Agents, 2010–2014

Table 76: Maltese Life Insurance – Number of Insurance Agents, 2014–2019

Table 77: Maltese Life Insurance – Brokers’ Value of Commissions (EUR Million), 2010–2014

Table 78: Maltese Life Insurance – Brokers’ Value of Commissions (EUR Million), 2014–2019

Table 79: Maltese Life Insurance – Brokers’ New Business Direct Written Premium (EUR Million), 2010–2014

Table 80: Maltese Life Insurance – Brokers’ New Business Direct Written Premium (EUR Million), 2014–2019

Table 81: Maltese Life Insurance – New Policies Sold Through Brokers (Thousand), 2010–2014

Table 82: Maltese Life Insurance – New Policies Sold Through Brokers (Thousand), 2014–2019

Table 83: Maltese Life Insurance – Number of Insurance Brokers, 2010–2014

Table 84: Maltese Life Insurance – Number of Insurance Brokers, 2014–2019

Table 85: Total Number of Insurance and Reinsurance Companies In The Maltese Insurance Industry, 2010 – 2014

Table 86: Maltese Life Insurance – Segment Shares (%), 2014

Table 87: GlobalCapital Plc, Key Facts

Table 88: GlobalCapital Plc, Key Financials (EUR Million), 2010–2014

Table 89: MSV Life Plc, Key Facts

Table 90: MSV Life Plc, Key Financials (EUR Million), 2009–2013

Table 91: HSBC Life Insurance (Malta) Ltd, Key Facts

Table 92: HSBC Life Insurance (Malta) Ltd, Key Financials (EUR Million), 2010–2014

Table 93: Citadel Insurance Plc, Key Facts

Table 94: Malta – Insurance Regulatory Framework Key Features

Table 95: Malta – Life Insurance Regulatory Framework

Table 96: Malta – Property Insurance Regulatory Framework

Table 97: Malta – Motor Insurance Regulatory Framework

Table 98: Malta – Liability Insurance Regulatory Framework

Table 99: Malta – Minimum Cover for Aircraft Third-Party Liability per Accident per Aircraft

Table 100: Malta – Authorization Fees for Insurers and Reinsurers

Table 101: Malta – Annual Supervisory Fee for Insurance Companies Based on Premium Income

Table 102: Malta – Authorization Fees for Auditor

Table 103: Malta – Fees to Permit to Cease to Carry on Insurance and Reinsurance Businesses

Table 104: Malta – Corporate Tax Rates for the Financial Year 2015

Table 105: Insurance Industry Definitions

Figures

Figure 1: Maltese Real GDP (EUR Billion), 2010–2019

Figure 2: EUR–US$ Exchange Rate, 2010–2019

Figure 3: Maltese Consumer Price Inflation (%), 2010–2019

Figure 4: Maltese Current Account Balance as Percentage of GDP (%), 2010–2014

Figure 5: Maltese Unemployment Rate (%), 2010–2019

Figure 6: Maltese Population by Age Group, 1996–2025

Figure 7: Maltese Life Insurance – Gross Written Premium by Category (EUR Million), 2010–2019

Figure 8: Maltese Life Insurance – Gross Written Premium by Category (% Share), 2014 and 2019

Figure 9: Maltese Life Insurance – Gross Written Premium Dynamics by Category (2010–2019)

Figure 10: Maltese Life Insurance – New Business Direct Written Premium (EUR Million), 2010–2014

Figure 11: Maltese Life Insurance – New Business Direct Written Premium (EUR Million), 2014–2019

Figure 12: Maltese Life Insurance – Net Earned Premium (EUR Million), 2010–2014

Figure 13: Maltese Life Insurance – Net Earned Premium (EUR Million), 2014–2019

Figure 14: Maltese Life Insurance – Paid Claims (EUR Million), 2010–2014

Figure 15: Maltese Life Insurance – Paid Claims (EUR Million), 2014–2019

Figure 16: Maltese Life Insurance – Number of Policies per Capita, 2010–2014

Figure 17: Maltese Life Insurance – Number of Policies per Capita, 2014–2019

Figure 18: Maltese Life Insurance – Commissions and Expenses (EUR Million), 2010–2014

Figure 19: Maltese Life Insurance – Commissions and Expenses (EUR Million), 2014–2019

Figure 20: Maltese Life Insurance – Net Written Premium as a Percentage of Gross Written Premium (%), 2010–2014

Figure 21: Maltese Life Insurance – Net Written Premium as a Percentage of Gross Written Premium (%), 2014–2019

Figure 22: Maltese Life Insurance – Renewal Business Direct Written Premium (EUR Million), 2010–2014

Figure 23: Maltese Life Insurance – Renewal Business Direct Written Premium (EUR Million), 2014–2019

Figure 24: Maltese Life Insurance – Total Assets (EUR Million), 2010–2014

Figure 25: Maltese Life Insurance – Total Assets (EUR Million), 2014–2019

Figure 26: Maltese Life Insurance – Net Written Premium (EUR Million), 2010–2014

Figure 27: Maltese Life Insurance – Net Written Premium (EUR Million), 2014–2019

Figure 28: Maltese Life Insurance – Investment Portfolio (EUR Million), 2010–2014

Figure 29: Maltese Life Insurance – Investment Portfolio (%), 2010 and 2014

Figure 30: Maltese Life Insurance – Penetration (%), 2010–2014

Figure 31: Maltese Life Insurance – Direct Premium per Capita (EUR), 2010–2014

Figure 32: Maltese Life Insurance – Number of Active Policies (Thousand), 2010–2014

Figure 33: Maltese Life Insurance – Number of Active Policies (Thousand), 2014–2019

Figure 34: Maltese Life Insurance – Number of New Policies Sold (Thousand), 2010–2014

Figure 35: Maltese Life Insurance – Number of New Policies Sold (Thousand), 2014–2019

Figure 36: Maltese Life Insurance – Total Investments (EUR Million), 2010–2014

Figure 37: Maltese Individual Life Insurance – Gross Written Premium by Category (EUR Million), 2010–2019

Figure 38: Maltese Individual Life Insurance – Gross Written Premium by Category (Percentage Share), 2014 and 2019

Figure 39: Maltese Individual Life Insurance – Gross Written Premium Dynamics by Category, 2010–2019

Figure 40: Maltese Individual Life Insurance – Direct Written Premium by Category (EUR Million), 2010–2019

Figure 41: Maltese Individual Life Insurance – Direct Written Premium by Category (Percentage Share), 2014 and 2019

Figure 42: Maltese Individual Life Insurance – Direct Written Premium Dynamics by Category, 2010–2019

Figure 43: Maltese Individual Whole Life Insurance – Direct Written Premium (EUR Million), 2010–2014

Figure 44: Maltese Individual Whole Life Insurance – Direct Written Premium (EUR Million), 2014–2019

Figure 45: Maltese Other Individual Life Insurance – Direct Written Premium (EUR Million), 2010–2014

Figure 46: Maltese Other Individual Life Insurance – Direct Written Premium (EUR Million), 2014–2019

Figure 47: Maltese Group Whole Life Insurance – Direct Written Premium (EUR Million), 2010–2014

Figure 48: Maltese Group Whole Life Insurance – Direct Written Premium (EUR Million), 2014–2019

Figure 49: Maltese Individual Single-Premium Insurance – Gross Written Premium (EUR Million), 2010–2014

Figure 50: Maltese Individual Single-Premium Insurance – Gross Written Premium (EUR Million), 2014–2019

Figure 51: Maltese Individual Single-Premium Insurance – Direct Written Premium (EUR Million), 2010–2014

Figure 52: Maltese Individual Single-Premium Insurance – Direct Written Premium (EUR Million), 2014–2019

Figure 53: Maltese Individual Non-Single-Premium Insurance – Gross Written Premium (EUR Million), 2010–2014

Figure 54: Maltese Individual Non-Single-Premium Insurance – Gross Written Premium (EUR Million), 2014–2019

Figure 55: Maltese Individual Non-Single-Premium Insurance – Direct Written Premium (EUR Million), 2010–2014

Figure 56: Maltese Individual Non-Single-Premium Insurance – Direct Written Premium (EUR Million), 2014–2019

Figure 57: Maltese Linked Insurance Business – Gross Written Premium (EUR Million), 2010–2014

Figure 58: Maltese Linked Insurance Business – Gross Written Premium (EUR Million), 2014–2019

Figure 59: Maltese Linked Insurance Business – Direct Written Premium (EUR Million), 2010–2014

Figure 60: Maltese Linked Insurance Business – Direct Written Premium (EUR Million), 2014–2019

Figure 61: Maltese Non-Linked Insurance Business – Gross Written Premium (EUR Million), 2010–2014

Figure 62: Maltese Non-Linked Insurance Business – Gross Written Premium (EUR Million), 2014–2019

Figure 63: Maltese Non-Linked Insurance Business – Direct Written Premium (EUR Million), 2010–2014

Figure 64: Maltese Non-Linked Insurance Business – Direct Written Premium (EUR Million), 2014–2019

Figure 65: Maltese Life Insurance – New Business Direct Written Premium by Distribution Channel (Percentage Share), 2014 and 2019

Figure 66: Maltese Life Insurance – Direct Marketing Value of Commissions (EUR Million), 2010–2014

Figure 67: Maltese Life Insurance – Direct Marketing Value of Commissions (EUR Million), 2014–2019

Figure 68: Maltese Life Insurance – Direct Marketing New Business Direct Written Premium (EUR Million), 2010–2014

Figure 69: Maltese Life Insurance – Direct Marketing New Business Direct Written Premium (EUR Million), 2014–2019

Figure 70: Maltese Life Insurance – New Policies Sold Through Direct Marketing (Thousand), 2010–2014

Figure 71: Maltese Life Insurance – New Policies Sold Through Direct Marketing (Thousand), 2014–2019

Figure 72: Maltese Life Insurance – Bancassurance Value of Commissions (EUR Million), 2010–2014

Figure 73: Maltese Life Insurance – Bancassurance Value of Commissions (EUR Million), 2014–2019

Figure 74: Maltese Life Insurance – Bancassurance New Business Direct Written Premium (EUR Million), 2010–2014

Figure 75: Maltese Life Insurance – Bancassurance New Business Direct Written Premium (EUR Million), 2014–2019

Figure 76: Maltese Life Insurance – New Policies Sold Through Bancassurance (Thousand), 2010–2014

Figure 77: Maltese Life Insurance – New Policies Sold Through Bancassurance (Thousand), 2014–2019

Figure 78: Maltese Life Insurance – Number of Banking Entities, 2010–2014

Figure 79: Maltese Life Insurance – Number of Banking Entities, 2014–2019

Figure 80: Maltese Life Insurance – Agencies’ Value of Commissions (EUR Million), 2010–2014

Figure 81: Maltese Life Insurance – Agencies’ Value of Commissions (EUR Million), 2014–2019

Figure 82: Maltese Life Insurance – Agencies’ New Business Direct Written Premium (EUR Million), 2010–2014

Figure 83: Maltese Life Insurance – Agencies’ New Business Direct Written Premium (EUR million), 2014–2019

Figure 84: Maltese Life Insurance – New Policies Sold Through Agencies (Thousand), 2010–2014

Figure 85: Maltese Life Insurance – New Policies Sold Through Agencies (Thousand), 2014–2019

Figure 86: Maltese Life Insurance – Number of Insurance Agents, 2010–2014

Figure 87: Maltese Life Insurance – Number of Insurance Agents, 2014–2019

Figure 88: Maltese Life Insurance – Brokers’ Value of Commissions (EUR Million), 2010–2014

Figure 89: Maltese Life Insurance – Brokers’ Value of Commissions (EUR Million), 2014–2019

Figure 90: Maltese Life Insurance – Brokers’ New Business Direct Written Premium (EUR Million), 2010–2014

Figure 91: Maltese Life Insurance – Brokers’ New Business Direct Written Premium (EUR Million), 2014–2019

Figure 92: Maltese Life Insurance – New Policies Sold Through Brokers (Thousand), 2010–2014

Figure 93: Maltese Life Insurance – New Policies Sold Through Brokers (Thousand), 2014–2019

Figure 94: Maltese Life Insurance – Number of Insurance Brokers, 2010–2014

Figure 95: Maltese Life Insurance – Number of Insurance Brokers, 2014–2019

Figure 96: Malta – The Three Pillars of Solvency II

Figure 97: Malta – Insurance Supervision and Control at Various Levels

Figure 98: Malta – Insurance Regulatory Frameworks for Company Registration and Operation

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