Insurance Intermediaries


Insurance Agents, Insurance Managers, Insurance Brokers, Tied Insurance Intermediaries and Ancillary Insurance Intermediaries are regulated by the Insurance Distribution Act, regulations issued thereunder and the Insurance Distribution Rules and Conduct of Business Rules made by the MFSA.

The MFSA is mainly responsible for:

  • The prudential supervision of (re)insurance intermediaries, registered or enrolled in accordance with Insurance Distribution Act carrying on insurance distribution activities in or from Malta, including in EU/EEA Member States, through a branch (FOE) and/or under freedom of services (FOS);
  • Ensuring that insurance intermediaries registered or enrolled under the Act comply with the provisions of the insurance distribution legislation ;
  • Exercising its powers of intervention in the circumstances and as set out in the Insurance Distribution Act.

Supervision of insurance intermediaries is carried out in a proportionate manner and comprises an appropriate combination of off-site and on-site supervision. Duties are carried out in a transparent and accountable manner taking into account the protection of confidential information. In exercising its functions and duties under the Act, MFSA is required by Law to take into account a European Union dimension.

When carrying out its functions and duties the MFSA shall in particular:

  • Have regard to the protection of insured persons, policy-holders, beneficiaries and the general public;
  • Monitor the market relating to insurance and reinsurance distribution activities, including the market for ancillary insurance products which are marketed, distributed or sold in, or from, Malta.