27 February 2023Analysis

Atlas Insurance joins Malta’s CICA delegation

Atlas Insurance is joining FinanceMalta as the first delegation from Malta to attend & sponsor this year’s Captive Insurance Companies Association (CICA) conference.

Atlas said that: “As the go-to destination for international companies seeking more efficient EU risk coverage, we are eager to share our experience and expertise with American captive insurance, #insurance managers, #riskmanagement professionals, and the global CICA conference. This is a unique opportunity to meet in person.”

The company stressed that the Republic of Malta is a full member of the European Union (EU), strategically located in the middle of the Mediterranean Sea, with English as its business language.

The rapid 40% rise in gross written premium to €7.8bn in 2021 by insurance companies, captives and protected cells domiciled in Malta for risks situated outside Malta demonstrates their success.

Malta’s cell growth continues to outpace standalone companies. In 2022 the number of cells in Malta grew by 5% to 77, whilst non-domestic insurance companies and captives reduced by 5% to 58.

Malta has tailored its regulation and insurance market to understand better and proportionally enable captives while adhering to EU standards and requirements.