FinanceMalta is the public-private initiative set up to promote Malta as an International Financial Centre. It harnesses together the resources of the industry and government to ensure Malta maintains a modern and effective legal, regulatory and fiscal framework for the financial sector to continue to grow and prosper.
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FinanceMalta, a non-profit public-private initiative, was set up to promote Malta as an international business and financial centre, both within as well as outside Malta. It brings together and harnesses the resources of the industry and government to ensure Malta maintains a modern and effective legal, regulatory and fiscal framework in which the financial services sector can continue to grow and prosper.
Malta is internationally recognised as a brand denoting excellence in financial services. It offers an attractive cost- and tax-efficient base for financial services operators looking for a European Union-compliant, yet flexible, domicile.
Malta has made significant strides to the international insurance market in attracting world-class companies to its shores. EU passporting rights and competitive operating costs are key attractions of locating in Malta. The country also championed the introduction of innovative structures such as Protected and Incorporated Cell Companies. Both structures allow firms to write risks through cells within a core company and provide businesses with a cost-effective alternative to setting up a stand-alone insurance company. The cell model is also applicable to insurance managers and brokers. Some 60 insurance companies are today registered in Malta, with the large majority being international players and only a handful of companies being active in the local market. International insurance business now accounts for more than 80 per cent of the total gross written premiums. With new legislation on reinsurance special purpose vehicles, Malta is positioning itself to tap new markets. The island has recognised the growing importance of insurance linked securities and catastrophe bonds, as well as the convergence of reinsurance and capital markets.
FinanceMalta came on the scene at a critical time just as Malta entered the eurozone. The financial services sector is now a major force in the country’s economy. Malta has some significant strengths to offer the industry such as a well-trained, motivated workforce; a low-cost environment; and an advantageous tax regime backed up by more than 70 double taxation agreements. To these, FinanceMalta can add a world-class information and communications technology infrastructure, English as an official language, an enviable climate and its strategic location.
The Board of Governors, together with the founding associations – The Malta Funds Industry Association (now MASA), the College of Stockbrokers, the Malta Bankers Association, the Malta Insurance Association, the Association of Insurance Brokers, the Malta Insurance Managers Association and the Institute of Financial Services Practitioners – its corporate and affiliate members, and staff are committed to promoting Malta as a centre of excellence in financial services and international business.
Areas of specialisation:
- Asset Management
- Insurance & Re-Insurance
- Private Wealth
Ivan Grech Chief Operations Officer
Ivan Grech is the Chief Operations Officer of FinanceMalta, the Public-Private Partnership responsible for the promotion of Malta as an international financial services centre. He joined FinanceMalta as Head of Business Development in 2015 after having held various marketing management roles for more than 20 years within the private sector, gaining experience in diverse industry sectors ranging from the automotive business, private healthcare and the FMCG sector.
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