INSURANCE RULES ISSUED UNDER THE INSURANCE BUSINESS ACT (CAP. 403)

Introduction

Table of Contents

Glossary

Part A – Authorisation Requirements Applicable under the Insurance Business Act

Chapter 1: The Application Process

• First Schedule
• Second Schedule
• Third Schedule
• Fourth Schedule
• Fifth Schedule
• Sixth Schedule

Chapter 2: Fit and Proper Criteria, Notification and Assessment

• ANNEX I - Personal Questionnaire
• ANNEX II - Assessment Form
• ANNEX III - Competency Form
• ANNEX IV - Professional Qualifications, Knowledge and Experience of individuals  responsible for a branch of an authorised undertaking

Chapter 3: Prudential assessment of acquisitions and increase of holdings in authorised undertakings

• SCHEDULE - List of information required for the assessment of an acquisition 
• ANNEX - Questionnaire for Qualifying Shareholders other than Individuals

Chapter 4: Authorisation to Act as Approved Auditor

• FIRST SCHEDULE - The Approved Auditors Register
• SECOND SCHEDULE – The Approved Auditors List
• THIRD SCHEDULE - Application by holders of a warrant to act as accountant and auditor for an authorisation to act as approved auditor under the Insurance Business Act
• FOURTH SCHEDULE - Application by audit firms for an authorisation to act as approved auditor under the Insurance Business Act

Part B – Conditions for carrying on Business of Insurance

Chapter 5: Valuation of assets and liabilities, technical provisions, own funds, Solvency Capital Requirement, Minimum Capital Requirement and investment rules

• Annex - Intra-Group Loans

Chapter 6: System of Governance

• ANNEX I - Guidelines on System of Governance and on Own Risk and Solvency Assessment
• ANNEX II - Audit Committee

Chapter 7: Separate Management of Long Term Business and General Business

Chapter 8: Financial Statements and Supervisory Reporting Requirements

• ANNEX I -  Guidelines on reporting and public disclosure
• ANNEX II -  Annual National Specific Templates
• ANNEX III - Quarterly National Specific Templates
• ANNEX IV - Declaration Form
• ANNEX V - External audit of the Solvency II regulatory returns

Chapter 9: Freedom of Establishment and Freedom to provide Services by a European Insurance Undertaking and a European Reinsurance Undertaking

• ANNEX I - Information for Policyholders
• ANNEX II - Forms

Chapter 10: Freedom of Establishment and Freedom to provide Services by a Maltese Insurance Undertaking and a Maltese Reinsurance Undertaking

Chapter 11: Provisions applicable to specific classes of general business of insurance

• ANNEX – Specimen Agreement

Chapter 12: Conduct of Business Rules

• SCHEDULE - Best Practices by Undertakings Concerned in Handling Complaints
• ANNEX - Complaints Reported by Insurance Undertakings

Chapter 13: General Principles of Supervision Rules

Part C - Other Provisions

• First Schedule  - Application for authorisation of a RSPV
• Second Schedule -Application for authorisation of a RSPV SCC
• Third Schedule - Application for approval of a cell of a RSPV SCC

Chapter 15:  Phasing-in measures for Solvency II Implementation