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Malta promoted as an insurance centre in NY

The benefits of insurers and reinsurers moving their business to Malta was recently explained to a number of New York-based financial services executives.

This was the first US event organised by FinanceMalta during 2015 aided by the increase in the government subvention received for this calendar year. The government increased funding for Finance Malta by €100,000 to €550,000 in the last Budget, which is being deployed towards initiatives that will be organised beyond the European borders in an effort for FinanceMalta to widen its reach to new markets.

“The US is clearly an important market for Malta to tap into,” said Ivan Grech, head of business development at FinanceMalta.

“There was considerable interest in Malta as an alternative domicile for insurance and risk linked securities.”

The initiative which was spearheaded through the collaboration of EY Malta, Ganado Advocates and Marsh Management Services was supported by FinanceMalta and attended by senior executives from Morgan Stanley, HSBC Bank USA, ISE Listing Services and UBS among others.

The meeting was held back-to-back with the main SIFMA insurance and risk-linked securities conference which was attended by over 400 delegates from across the globe. During this event, FinanceMalta was present with an information stand.

Source: Times of Malta

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