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Non-Life Insurance in Malta, Key Trends and Opportunities to 2019

Non-Life Insurance in Malta, Key Trends and Opportunities to 2019

Synopsis

Timetric’s 'Non-Life Insurance in Malta, Key Trends and Opportunities to 2019' report provides a detailed outlook by product category for the Maltese non-life insurance segment, and a comparison of the Maltese insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2010–2014) and forecast period (2014–2019).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Maltese economy and demographics, explains the various types of natural hazard and their impact on the Maltese insurance industry, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric’s 'Non-Life Insurance in Malta, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Maltese non-life insurance segment, including:

  • The Maltese non-life insurance segment’s detailed outlook by product category
  • A comprehensive overview of the Maltese economy and demographics
  • A comparison of the Maltese insurance industry with its regional counterparts
  • The various distribution channels in the Maltese non-life insurance segment
  • Detailed analysis of natural hazards and their impact on the Maltese insurance industry
  • Details of the competitive landscape in the non-life insurance segment in Malta
  • Details of regulatory policy applicable to the Maltese insurance industry
Scope

This report provides a comprehensive analysis of the non-life insurance segment in Malta:
  • It provides historical values for the Maltese non-life insurance segment for the report’s 2010–2014 review period, and projected figures for the 2014–2019 forecast period.
  • It offers a detailed analysis of the key categories in the Maltese non-life insurance segment, and market forecasts to 2019.
  • It profiles the top non-life insurance companies in Malta, and outlines the key regulations affecting them.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Maltese non-life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Maltese non-life insurance segment.
  • Assess the competitive dynamics in the non-life insurance segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the Maltese insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • A unique feature of the Maltese insurance industry is its emergence as a captive insurance and reinsurance domicile. As of 2014, 45 companies were licensed to conduct non-life insurance in the country.
  • The non-life segment accounted for 63.8% of the industry’s gross written premium in 2014. Property insurance was the largest category, and accounted for 65.3% of the non-life gross written premium in 2014.
  • Motor third-party liability insurance is mandatory. Insurers are rapidly adapting usage-based telematics motor insurance. Motor insurance products for different vehicles such as private, commercial, electric and hybrid, classic and vintage cars are available in Malta.
  • Malta’s economy is dominated by banks, financial services and the online gaming industry, and largely depends on technology and telecommunications. Cyber-risk is the second-largest risk to service sector businesses, and the demand for cyber-liability insurance in Malta is expected to rise over the forecast period.
  • The sale of general insurance has traditionally been conducted through direct channels in Malta and the continuation of this trend is reflected in the dominance it exhibits as the leading distribution channel.
  • Insurance companies domiciled outside Malta can be redomiciled in the form of a captive. Malta houses numerous licensed insurance management companies, which can advise on the formation and day-to-day operation of a PCC or ICC or captive company, to companies new to the captive insurance market.


  • Key Facts and Highlights
    • Table Maltese Non-Life Insurance - Key Facts, 2014
  • Executive Summary
  • Economy and Demographics
    • Table Maltese Government Credit Ratings
  • Segment Outlook
    • Regional Comparison
    • Segment Indicators
      • Gross written premium and penetration
        • Table Maltese Non-Life Insurance - Gross Written Premium (EUR Million and US$ Million), 2010-2014
        • Table Maltese Non-Life Insurance - Penetration (%), 2010-2014
        • Table Maltese Non-Life Insurance - Gross Written Premium (EUR Million and US$ Million), 2014-2019
        • Table Maltese Non-Life Insurance - Penetration (%), 2014-2019
        • Table Maltese Non-Life Insurance - Premium per Capita (EUR and US$), 2010-2014
        • Table Maltese Non-Life Insurance - Premium per Capita (EUR and US$), 2014-2019
      • Claims
        • Table Maltese Non-Life Insurance - Paid Claims (EUR Million and US$ Million), 2010-2014
        • Table Maltese Non-Life Insurance - Paid Claims (EUR Million and US$ Million), 2014-2019
      • Profitability
        • Table Maltese Non-Life Insurance - Profitability Ratio (%), 2010-2014
        • Table Maltese Non-Life Insurance - Profitability Ratio (%), 2014-2019
      • Assets and investments
        • Table Maltese Non-Life Insurance - Total Assets (EUR Billion and US$ Billion), 2010-2014
        • Table Maltese Non-Life Insurance - Total Assets (EUR Billion and US$ Billion), 2014-2019
        • Table Maltese Non-Life Insurance - Investment Portfolio (EUR Million), 2010-2014
        • Table Maltese Non-Life Insurance - Investment Portfolio (EUR Million), 2014-2019
  • Outlook by Category
    • Table Maltese Non-Life Insurance - Gross Written Premium by Category (EUR Million), 2010-2014
    • Table Maltese Non-Life Insurance - Gross Written Premium by Category (EUR Million), 2014-2019
    • Property Insurance
      • Product overview
      • Premium
        • Table Maltese Property Insurance - Gross Written Premium by Sub-Category (EUR Million), 2010-2014
        • Table Maltese Property Insurance - Gross Written Premium by Sub-Category (EUR Million), 2014-2019
      • Claims
        • Table Maltese Property Insurance - Paid Claims (EUR Million and US$ Million), 2010-2014
        • Table Maltese Property Insurance - Paid Claims (EUR Million and US$ Million), 2014-2019
      • Profitability
        • Table Maltese Property Insurance - Loss Ratio (%), 2010-2014
        • Table Maltese Property Insurance - Loss Ratio (%), 2014-2019
    • Motor Insurance
      • Product overview
      • Premium
        • Table Maltese Motor Insurance - Gross Written Premium by Sub-Category (EUR Million), 2010-2014
        • Table Maltese Motor Insurance - Gross Written Premium by Sub-Category (EUR Million), 2014-2019
      • Claims
        • Table Maltese Motor Insurance - Paid Claims (EUR Million and US$ Million), 2010-2014
        • Table Maltese Motor Insurance - Paid Claims (EUR Million and US$ Million), 2014-2019
      • Profitability
        • Table Maltese Motor Insurance - Loss Ratio (%), 2010-2014
        • Table Maltese Motor Insurance - Loss Ratio (%), 2014-2019
    • Liability Insurance
      • Product overview
      • Premium
        • Table Maltese Liability Insurance - Gross Written Premium (EUR Million), 2010-2014
        • Table Maltese Liability Insurance - Gross Written Premium (EUR Million), 2014-2019
      • Claims
        • Table Maltese Liability Insurance - Paid Claims (EUR Million and US$ Million), 2010-2014
        • Table Maltese Liability Insurance - Paid Claims (EUR Million and US$ Million), 2014-2019
      • Profitability
        • Table Maltese Liability Insurance - Loss Ratio (%), 2010-2014
        • Table Maltese Liability Insurance - Loss Ratio (%), 2014-2019
    • Marine, Aviation and Transit Insurance
      • Product overview
        • Table Maltese Transport Network - Global Rankings
      • Premium
        • Table Maltese Marine, Aviation and Transit Insurance - Gross Written Premium (EUR Million), 2010-2014
        • Table Maltese Marine, Aviation and Transit Insurance - Gross Written Premium (EUR Million), 2014-2019
      • Claims
        • Table Maltese Marine, Aviation and Transit Insurance - Paid Claims (EUR Million and US$ Million), 2010-2014
        • Table Maltese Marine, Aviation and Transit Insurance - Paid Claims (EUR Million and US$ Million), 2014-2019
      • Profitability
        • Table Maltese Marine, Aviation and Transit Insurance - Loss Ratio (%), 2010-2014
        • Table Maltese Marine, Aviation and Transit Insurance - Loss Ratio (%), 2014-2019
  • Distribution Channel Outlook
    • Analysis by Distribution Channel
      • Table Maltese Non-Life Insurance - Direct Written Premium by Distribution Channel (EUR Million), 2010-2014
      • Table Maltese Non-Life Insurance - Direct Written Premium by Distribution Channel (EUR Million), 2014-2019
      • Table Maltese Non-Life Insurance - Direct Written Premium by Distribution Channel (%), 2010-2019
      • Agencies
      • Insurance brokers
      • Direct marketing
      • E-commerce
  • Natural Hazards
    • Table Maltese Average Annual Loss by Hazard, 1990-2014
    • Earthquakes and Tornadoes
    • Exposure
  • Competitive Landscape
    • Leading Insurers in the Maltese Non-Life Segment
      • Table Key Insurers in the Maltese Non-Life Insurance Segment, 2014
    • Company Profiles
      • Mapfre Middlesea Plc - company overview
        • Table Mapfre Middlesea Plc - Key Facts
        • Table Mapfre Middlesea Plc - Key Financials (EUR Million), 2010-2014
      • Atlas Insurance PCC Ltd - company overview
        • Table Atlas Insurance PCC Ltd - Key Facts
        • Table Atlas Insurance PCC Ltd - Key Financials (EUR Million), 2010-2014
      • Elmo Insurance Ltd - company overview
        • Table Elmo Insurance Ltd - Key Facts
        • Table Elmo Insurance Ltd - Key Financials (EUR Million), 2010-2014
      • GasanMamo Insurance Ltd - company overview
        • Table GasanMamo Insurance Ltd - Key Facts
        • Table GasanMamo Insurance Ltd - Key Financials (EUR Million), 2010-2014
  • Governance, Risk and Compliance
    • Table Malta - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulations
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table Malta - Life Insurance Regulatory Framework
      • Property insurance
        • Table Malta - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Malta - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Malta - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance regulations
      • Personal accident and health insurance regulations
    • Compulsory Insurance
      • Motor third-party liability insurance
      • Social Security System
      • Air carriers and aircraft operators insurance
        • Table Malta - Minimum Cover for Aircraft Third-Party Liability per Accident per Aircraft
      • Professional indemnity insurance for healthcare professionals
      • Professional indemnity insurance for alternative investment fund managers
    • Supervision and Control
      • International Association of Insurance Supervisors
      • European Insurance and Occupational Pensions Authority
      • Federation of European Risk Management Associations
      • Ministry of Finance
      • Malta Financial Services Authority
      • The Financial Services Tribunal
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and penalties
    • Company Registration and Operations
      • Types of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margins
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
        • Table Malta - Authorization Fees for Insurers and Reinsurers
        • Table Malta - Annual Supervisory Fee for Insurance Companies Based on Premium Income
        • Table Malta - Authorization Fees for Auditor
        • Table Malta - Fees to Permit to Cease to Carry on Insurance and Reinsurance Businesses
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Malta - Corporate Tax Rates for the Financial Year 2015
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution
  • Databook
    • Policies and Premium
      • Table Maltese Insurance Industry - Policies and Premium, 2010-2014
      • Table Maltese Insurance Industry - Policies and Premium, 2014-2019
    • Claims and Expenses
      • Table Maltese Non-Life Insurance - Claims and Expenses, 2010-2014
      • Table Maltese Non-Life Insurance - Claims and Expenses, 2014-2019
    • Assets and Investments
      • Table Maltese Non-Life Insurance - Assets and Investments, 2010-2014
      • Table Maltese Non-Life Insurance - Assets and Investments, 2014-2019
    • Direct Marketing
      • Table Maltese Non-Life Insurance - Direct Marketing, 2010-2014
      • Table Maltese Non-Life Insurance - Direct Marketing, 2014-2019
    • Insurance Brokers and Agencies
      • Table Maltese Non-Life Insurance - Insurance Brokers and Agencies, 2010-2014
      • Table Maltese Non-Life Insurance - Insurance Brokers and Agencies, 2014-2019
    • Property Insurance
      • Table Maltese Non-Life Insurance - Property Insurance, 2010-2014
      • Table Maltese Non-Life Insurance - Property Insurance, 2014-2019
    • Property Insurance by Product
      • Table Maltese Non-Life Insurance - Property Insurance by Product, 2010-2014
      • Table Maltese Non-Life Insurance - Property Insurance by Product, 2014-2019
    • Motor Insurance
      • Table Maltese Non-Life Insurance - Motor Insurance, 2010-2014
      • Table Maltese Non-Life Insurance - Motor Insurance, 2014-2019
    • Motor Insurance by Product
      • Table Maltese Non-Life Insurance - Motor Insurance by Product, 2010-2014
      • Table Maltese Non-Life Insurance - Motor Insurance by Product, 2014-2019
    • Liability Insurance
      • Table Maltese Non-Life Insurance - Liability Insurance, 2010-2014
      • Table Maltese Non-Life Insurance - Liability Insurance, 2014-2019
    • Marine, Aviation and Transit Insurance
      • Table Maltese Non-Life Insurance - Marine, Aviation and Transit Insurance, 2010-2014
      • Table Maltese Non-Life Insurance - Marine, Aviation and Transit Insurance, 2014-2019
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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